Truist Financial Lowers ON (NYSE:ONON) Price Target to $60.00

by · The Cerbat Gem

ON (NYSE:ONON – Get Free Report) had its target price dropped by analysts at Truist Financial from $69.00 to $60.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price objective suggests a potential upside of 72.53% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. Morgan Stanley raised their price target on ON from $62.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, August 13th. Evercore ISI dropped their target price on ON from $68.00 to $50.00 and set an “outperform” rating for the company in a research report on Monday. Zacks Research lowered ON from a “hold” rating to a “strong sell” rating in a research note on Monday, October 13th. TD Cowen decreased their price target on shares of ON from $63.00 to $55.00 and set a “buy” rating on the stock in a research note on Tuesday, October 14th. Finally, UBS Group increased their target price on shares of ON from $75.00 to $79.00 and gave the company a “buy” rating in a report on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $61.60.

Check Out Our Latest Stock Analysis on ONON

ON Price Performance

NYSE ONON traded down $0.22 during trading on Monday, reaching $34.78. The company’s stock had a trading volume of 3,395,023 shares, compared to its average volume of 5,494,380. The firm has a fifty day moving average of $42.23 and a 200 day moving average of $48.44. ON has a one year low of $34.38 and a one year high of $64.05. The stock has a market capitalization of $21.90 billion, a PE ratio of 77.28, a P/E/G ratio of 4.35 and a beta of 2.18. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.53 and a quick ratio of 2.00.

ON (NYSE:ONON – Get Free Report) last posted its quarterly earnings data on Tuesday, August 12th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.35). The company had revenue of $944.29 million during 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 firm’s revenue for the quarter was up 32.0% on a year-over-year basis. During the same quarter last year, the company posted $0.14 earnings per share. ON has set its FY 2025 guidance at EPS. Analysts expect that ON will post 0.66 EPS for the current fiscal year.

Institutional Investors Weigh In On ON

Several institutional investors and hedge funds have recently bought and sold shares of the business. Citigroup Inc. increased its stake in shares of ON by 3,643.7% during the third quarter. Citigroup Inc. now owns 607,720 shares of the company’s stock valued at $25,737,000 after buying an additional 591,487 shares during the period. Stevens Capital Management LP boosted its holdings in ON by 21.2% in the third quarter. Stevens Capital Management LP now owns 5,475 shares of the company’s stock valued at $232,000 after acquiring an additional 959 shares in the last quarter. Y.D. More Investments Ltd boosted its holdings in ON by 20.5% in the third quarter. Y.D. More Investments Ltd now owns 62,550 shares of the company’s stock valued at $2,649,000 after acquiring an additional 10,650 shares in the last quarter. Calton & Associates Inc. purchased a new position in ON during the 3rd quarter valued at $394,000. Finally, Aberdeen Group plc boosted its stake in shares of ON by 1.5% during the 3rd quarter. Aberdeen Group plc now owns 768,053 shares of the company’s stock valued at $33,479,000 after purchasing an additional 11,178 shares in the last quarter. Hedge funds and other institutional investors 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.

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