ON (NYSE:ONON) Price Target Raised to $63.00

ON (NYSE:ONON) had its target price upped by Robert W. Baird from $55.00 to $63.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

Other equities research analysts also recently issued research reports about the company. Morgan Stanley raised their target price on ON from $44.00 to $46.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Stifel Nicolaus raised their target price on ON from $45.00 to $59.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. UBS Group raised their target price on ON from $55.00 to $61.00 and gave the company a “buy” rating in a report on Monday, November 4th. HSBC initiated coverage on ON in a report on Thursday, September 5th. They issued a “hold” rating and a $52.00 target price on the stock. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $53.00 price objective on shares of ON in a report on Tuesday, November 12th. Four research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.33.

ON Stock Performance

Shares of ONON stock opened at $51.92 on Wednesday. The stock’s fifty day moving average price is $49.56 and its two-hundred day moving average price is $43.25. The company has a market cap of $32.69 billion, a PE ratio of 120.74 and a beta of 2.25. ON has a fifty-two week low of $25.78 and a fifty-two week high of $56.44.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ONON. Private Trust Co. NA bought a new position in shares of ON in the 3rd quarter worth about $26,000. Blue Trust Inc. raised its position in shares of 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 in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in shares of 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 in the last quarter. MidAtlantic Capital Management Inc. bought a new position in shares of ON in the 3rd quarter worth about $29,000. Finally, Quarry LP bought a new position in shares of ON in the 2nd quarter worth about $32,000. 33.11% of the stock is owned by institutional investors.

ON Company Profile

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.