ON (NYSE:ONON) Given “Buy” Rating at Truist Financial

Truist Financial reissued their buy rating on shares of ON (NYSE:ONONFree Report) in a report published on Tuesday, Benzinga reports. The firm currently has a $46.00 price target on the stock.

Several other equities analysts also recently weighed in on ONON. UBS Group lifted their price target on shares of ON from $53.00 to $55.00 and gave the company a buy rating in a report on Wednesday, May 15th. Sanford C. Bernstein started coverage on shares of ON in a report on Tuesday, June 11th. They issued an outperform rating and a $50.00 target price on the stock. Telsey Advisory Group boosted their target price on shares of ON from $40.00 to $47.00 and gave the stock an outperform rating in a report on Friday, June 7th. TD Cowen boosted their target price on shares of ON from $36.00 to $38.00 and gave the stock a buy rating in a report on Thursday, May 2nd. Finally, Evercore ISI boosted their target price on shares of ON from $40.00 to $43.00 and gave the stock an outperform rating in a report on Wednesday, May 15th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $42.00.

Get Our Latest Stock Analysis on ON

ON Trading Down 1.2 %

Shares of NYSE ONON opened at $41.73 on Tuesday. ON has a 12 month low of $23.41 and a 12 month high of $44.30. The firm has a market capitalization of $26.28 billion, a PE ratio of 94.84, a price-to-earnings-growth ratio of 1.25 and a beta of 2.27. The firm has a fifty day simple moving average of $37.06 and a two-hundred day simple moving average of $32.74.

ON (NYSE:ONONGet Free Report) last announced its quarterly earnings data on Tuesday, May 14th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.12 by $0.20. The company had revenue of $581.41 million for the quarter, compared to the consensus estimate of $555.52 million. ON had a net margin of 6.46% and a return on equity of 11.13%. On average, sell-side analysts predict that ON will post 0.77 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. American Century Companies Inc. grew its holdings in shares of ON by 109.3% in the third quarter. American Century Companies Inc. now owns 6,566,787 shares of the company’s stock worth $182,688,000 after purchasing an additional 3,428,794 shares during the last quarter. William Blair Investment Management LLC bought a new position in shares of ON in the first quarter worth about $121,712,000. 1832 Asset Management L.P. grew its holdings in shares of ON by 36.2% in the fourth quarter. 1832 Asset Management L.P. now owns 3,160,000 shares of the company’s stock worth $85,225,000 after purchasing an additional 840,600 shares during the last quarter. Bamco Inc. NY grew its holdings in shares of ON by 243.0% in the third quarter. Bamco Inc. NY now owns 3,028,002 shares of the company’s stock worth $84,239,000 after purchasing an additional 2,145,318 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in ON by 2.7% in the third quarter. Invesco Ltd. now owns 2,908,297 shares of the company’s stock worth $80,909,000 after acquiring an additional 76,518 shares during the period. Institutional investors own 33.11% of the company’s stock.

ON Company Profile

(Get Free Report)

On Holding AG engages in the development and distribution of sports products worldwide. The company offers athletic footwear, apparel, and accessories for high-performance running, outdoor, training, all-day activities, and tennis. It offers its products through independent retailers and distributors, online, and stores.

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