ON (NYSE:ONON) Price Target Raised to $62.00

ON (NYSE:ONON) had its price objective raised by Williams Trading from $60.00 to $62.00 in a report released on Tuesday morning,Benzinga reports. Williams Trading currently has a buy rating on the stock.

Other equities research analysts have also issued reports about the stock. Robert W. Baird raised their price objective on shares of ON from $55.00 to $63.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Truist Financial raised their price objective on shares of ON from $58.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Barclays raised their price objective on shares of ON from $47.00 to $63.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Bank of America assumed coverage on shares of ON in a research note on Tuesday, January 7th. They set a “buy” rating and a $73.00 price target on the stock. Finally, Stifel Nicolaus lifted their price target on shares of ON from $60.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Five analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $60.36.

ON Trading Down 5.4 %

Shares of ONON opened at $49.63 on Tuesday. ON has a twelve month low of $27.37 and a twelve month high of $64.05. The firm’s fifty day simple moving average is $55.21 and its 200-day simple moving average is $52.50. The firm has a market capitalization of $31.25 billion, a price-to-earnings ratio of 115.42, a PEG ratio of 1.02 and a beta of 2.35.

Institutional Trading of ON

Several hedge funds and other institutional investors have recently made changes to their positions in ONON. Private Trust Co. NA purchased a new stake in shares of ON in the third quarter valued at about $26,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of ON in the third quarter valued at about $29,000. Strategic Financial Concepts LLC purchased a new stake in ON during the fourth quarter worth about $30,000. Park Square Financial Group LLC acquired a new position in ON during the fourth quarter worth about $32,000. Finally, Legacy Bridge LLC acquired a new position in ON during the fourth quarter worth about $43,000. Hedge funds and other institutional investors own 36.39% of the company’s stock.

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.