Jefferies Financial Group Begins Coverage on ON (NYSE:ONON)

Jefferies Financial Group assumed coverage on shares of ON (NYSE:ONON) in a research note published on Tuesday, Marketbeat Ratings reports. The firm issued a hold rating and a $44.00 price objective on the stock.

Other analysts have also issued reports about the stock. TD Cowen lifted their target price on shares of ON from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. HSBC raised ON from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a report on Tuesday, March 11th. Telsey Advisory Group reissued an “outperform” rating and issued a $67.00 target price on shares of ON in a report on Tuesday, March 4th. Barclays raised their target price on ON from $63.00 to $64.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $64.00 price objective on shares of ON in a research note on Tuesday, March 4th. Three equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, ON currently has an average rating of “Moderate Buy” and a consensus price target of $60.45.

ON Price Performance

Shares of ONON stock opened at $42.69 on Tuesday. The stock has a market cap of $26.88 billion, a P/E ratio of 99.28, a price-to-earnings-growth ratio of 1.02 and a beta of 2.35. The stock has a fifty day moving average price of $51.85 and a 200 day moving average price of $52.68. ON has a one year low of $29.84 and a one year high of $64.05.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. FMR LLC grew its holdings in ON by 1.6% during the 4th quarter. FMR LLC now owns 28,875,965 shares of the company’s stock worth $1,581,537,000 after acquiring an additional 462,738 shares during the period. Alliancebernstein L.P. raised its position in ON by 2.8% in the 4th quarter. Alliancebernstein L.P. now owns 17,378,277 shares of the company’s stock valued at $951,808,000 after buying an additional 471,805 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of ON by 0.6% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,361,491 shares of the company’s stock valued at $184,109,000 after purchasing an additional 18,752 shares during the last quarter. Norges Bank acquired a new stake in ON in the 4th quarter valued at $164,574,000. Finally, Jennison Associates LLC raised its holdings in ON by 27.4% during the fourth quarter. Jennison Associates LLC now owns 2,049,644 shares of the company’s stock worth $112,259,000 after acquiring an additional 440,685 shares in the last quarter. Institutional investors and hedge funds 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.