ON (NYSE:ONON) Price Target Raised to $73.00

ON (NYSE:ONON) had its price target increased by equities researchers at UBS Group from $65.00 to $73.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s price target would indicate a potential upside of 38.73% from the stock’s previous close.

Several other equities analysts have also commented on ONON. Telsey Advisory Group restated an “outperform” rating and set a $67.00 price target on shares of ON in a research note on Tuesday. Needham & Company LLC restated a “buy” rating and issued a $64.00 price target on shares of ON in a report on Tuesday. Truist Financial upped their price target on shares of ON from $58.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Bank of America began coverage on shares of ON in a report on Tuesday, January 7th. They set a “buy” rating and a $73.00 price objective on the stock. Finally, Morgan Stanley upped their target price on ON from $62.00 to $66.00 and gave the stock an “overweight” rating in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $60.36.

ON Trading Up 3.9 %

Shares of NYSE ONON traded up $1.99 during trading hours on Wednesday, reaching $52.62. The stock had a trading volume of 7,194,974 shares, compared to its average volume of 4,557,430. The business’s fifty day moving average price is $55.29 and its two-hundred day moving average price is $52.50. The firm has a market cap of $33.13 billion, a price-to-earnings ratio of 122.37, a P/E/G ratio of 1.02 and a beta of 2.30. ON has a 52-week low of $27.37 and a 52-week high of $64.05.

Institutional Investors Weigh In On ON

Several hedge funds have recently added to or reduced their stakes in the business. Private Trust Co. NA acquired a new position in shares of ON in the 3rd quarter valued at about $26,000. MidAtlantic Capital Management Inc. purchased a new position in ON during the third quarter valued at approximately $29,000. Strategic Financial Concepts LLC acquired a new position in ON in the fourth quarter valued at approximately $30,000. Park Square Financial Group LLC acquired a new stake in shares of ON during the 4th quarter worth approximately $32,000. Finally, Legacy Bridge LLC purchased a new position in shares of ON during the 4th quarter valued at approximately $43,000. 36.39% of the stock is owned by hedge funds and other institutional investors.

ON Company Profile

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.