Evercore ISI Cuts ON (NYSE:ONON) Price Target to $50.00

by · The Cerbat Gem

ON (NYSE:ONON – Get Free Report) had its target price dropped by analysts at Evercore ISI from $68.00 to $50.00 in a report issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Evercore ISI’s target price would indicate a potential upside of 43.77% from the company’s current price.

Several other research firms have also recently weighed in on ONON. Morgan Stanley upped their price objective on shares of ON from $62.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 13th. Citigroup lowered shares of ON from a “buy” rating to a “mixed” rating in a research report on Tuesday, October 28th. TD Cowen cut their target price on ON from $63.00 to $55.00 and set a “buy” rating for the company in a research note on Tuesday, October 14th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of ON in a research note on Wednesday, October 8th. Finally, UBS Group boosted their target price on ON from $75.00 to $79.00 and gave the stock a “buy” rating in a research note on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $62.05.

Get Our Latest Stock Analysis on ONON

ON Stock Performance

ON stock traded down $0.22 during midday trading on Monday, reaching $34.78. 1,694,059 shares of the company’s stock were exchanged, compared to its average volume of 5,484,720. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.00 and a current ratio of 2.53. The stock’s 50-day simple moving average is $42.23 and its 200 day simple moving average is $48.44. The firm has a market cap of $21.90 billion, a price-to-earnings ratio of 77.14, a P/E/G ratio of 4.35 and a beta of 2.18. ON has a 52 week low of $34.38 and a 52 week high of $64.05.

ON (NYSE:ONON – Get Free Report) last issued its earnings results on Tuesday, August 12th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.24 by ($0.35). The business had revenue of $944.29 million for the quarter, compared to the consensus estimate of $707.74 million. ON had a return on equity of 8.75% and a net margin of 4.45%.The business’s revenue was up 32.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.14 earnings per share. ON has set its FY 2025 guidance at EPS. On average, analysts expect that ON will post 0.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ON

A number of hedge funds have recently added to or reduced their stakes in the company. Montag A & Associates Inc. bought a new position in shares of ON in the 1st quarter worth $26,000. TCTC Holdings LLC lifted its position in ON by 118.4% in the 1st quarter. TCTC Holdings LLC now owns 581 shares of the company’s stock valued at $26,000 after acquiring an additional 315 shares in the last quarter. Washington Trust Advisors Inc. acquired a new position in ON during the 2nd quarter valued at about $29,000. Smartleaf Asset Management LLC boosted its position in shares of ON by 3,392.6% during the first quarter. Smartleaf Asset Management LLC now owns 943 shares of the company’s stock valued at $42,000 after buying an additional 916 shares during the last quarter. Finally, Ramirez Asset Management Inc. bought a new position in ON during the 1st quarter valued at $44,000. Institutional investors and hedge funds own 36.39% of the company’s stock.

ON Company Profile

(Get Free Report)

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.

Featured Stories