ON (NYSE:ONON) Price Target Raised to $66.00

ON (NYSE:ONON) had its price target boosted by TD Cowen from $65.00 to $66.00 in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other brokerages have also recently issued reports on ONON. Piper Sandler boosted their price target on ON from $52.00 to $56.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. Barclays boosted their price target on ON from $47.00 to $63.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. The Goldman Sachs Group boosted their price target on ON from $50.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Bank of America assumed coverage on ON in a research note on Tuesday. They issued a “buy” rating and a $73.00 price target for the company. Finally, BTIG Research upgraded ON from a “neutral” rating to a “buy” rating and set a $64.00 price target for the company in a research note on Wednesday, November 13th. Four research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $57.86.

ON Trading Up 2.0 %

ON stock opened at $56.65 on Wednesday. ON has a 12 month low of $26.03 and a 12 month high of $60.12. The stock’s 50 day moving average is $55.10 and its 200-day moving average is $48.02. The company has a market capitalization of $35.67 billion, a price-to-earnings ratio of 131.75 and a beta of 2.30.

Institutional Investors Weigh In On ON

Several large investors have recently added to or reduced their stakes in the company. Capital Advisors Inc. OK increased its holdings in ON by 5.1% in the 3rd quarter. Capital Advisors Inc. OK now owns 6,186 shares of the company’s stock worth $310,000 after acquiring an additional 301 shares during the last quarter. Sage Capital Advisors llc increased its holdings in ON by 0.3% in the 3rd quarter. Sage Capital Advisors llc now owns 99,859 shares of the company’s stock worth $5,008,000 after acquiring an additional 328 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in ON by 210.5% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock worth $28,000 after acquiring an additional 400 shares during the last quarter. Blue Trust Inc. increased its holdings in ON by 319.8% in the 3rd quarter. Blue Trust Inc. now owns 529 shares of the company’s stock worth $27,000 after acquiring an additional 403 shares during the last quarter. Finally, King Luther Capital Management Corp increased its holdings in ON by 0.7% in the 2nd quarter. King Luther Capital Management Corp now owns 56,021 shares of the company’s stock worth $2,174,000 after acquiring an additional 405 shares during the last quarter. Hedge funds and other institutional investors own 36.39% of the company’s stock.

About ON

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