ON (NYSE:ONON) Now Covered by Needham & Company LLC

Needham & Company LLC assumed coverage on shares of ON (NYSE:ONON) in a research note published on Friday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $64.00 price target on the stock.

A number of other brokerages have also issued reports on ONON. Stifel Nicolaus boosted their target price on ON from $45.00 to $59.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. HSBC assumed coverage on ON in a research note on Thursday, September 5th. They issued a “hold” rating and a $52.00 target price on the stock. Bank of America upgraded ON from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $21.00 to $55.00 in a research note on Monday, September 23rd. Robert W. Baird boosted their target price on ON from $55.00 to $63.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Finally, Morgan Stanley upped their price target on ON from $44.00 to $46.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Four research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.05.

ON Stock Performance

ONON opened at $58.51 on Friday. ON has a one year low of $25.78 and a one year high of $59.19. The stock’s fifty day moving average is $50.34 and its 200-day moving average is $44.08. The company has a market capitalization of $36.84 billion, a PE ratio of 135.96 and a beta of 2.25.

Institutional Investors Weigh In On ON

Several large investors have recently modified their holdings of ONON. Vanguard Group Inc. grew its stake in shares of ON by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 203,025 shares of the company’s stock valued at $7,183,000 after purchasing an additional 7,874 shares during the period. BOKF NA bought a new stake in ON during the 1st quarter worth approximately $4,721,000. Price T Rowe Associates Inc. MD grew its position in ON by 0.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,787,871 shares of the company’s stock worth $98,636,000 after acquiring an additional 14,674 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in ON during the 1st quarter worth approximately $486,000. Finally, Ogborne Capital Management LLC grew its position in ON by 31.0% during the 1st quarter. Ogborne Capital Management LLC now owns 658,365 shares of the company’s stock worth $23,293,000 after acquiring an additional 155,949 shares during the last quarter. 33.11% of the stock is currently owned by institutional investors.

About ON

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.