ON (NYSE:ONON) Research Coverage Started at Citigroup

Citigroup initiated coverage on shares of ON (NYSE:ONON) in a report issued on Wednesday, MarketBeat.com reports. The brokerage issued a neutral rating and a $65.00 price target on the stock.

Several other equities research analysts also recently weighed in on the company. BTIG Research raised ON from a “neutral” rating to a “buy” rating and set a $64.00 price target on the stock in a research report on Wednesday, November 13th. Piper Sandler raised their target price on ON from $52.00 to $56.00 and gave the stock an “overweight” rating in a report on Thursday, October 3rd. The Goldman Sachs Group boosted their price target on ON from $50.00 to $57.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Needham & Company LLC initiated coverage on shares of ON in a research note on Friday, November 22nd. They set a “buy” rating and a $64.00 price objective on the stock. Finally, KeyCorp boosted their target price on shares of ON from $47.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, September 26th. Five investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, ON presently has an average rating of “Moderate Buy” and a consensus price target of $56.77.

ON Price Performance

ONON stock opened at $57.14 on Wednesday. The firm’s fifty day simple moving average is $53.20 and its 200-day simple moving average is $46.71. ON has a 12 month low of $25.78 and a 12 month high of $60.12. The company has a market capitalization of $35.98 billion, a P/E ratio of 132.89 and a beta of 2.30.

Hedge Funds Weigh In On ON

Hedge funds and other institutional investors have recently modified their holdings of the business. Private Trust Co. NA acquired a new stake in ON in the 3rd quarter valued at about $26,000. Blue Trust Inc. increased its holdings in shares of ON by 319.8% in the third quarter. Blue Trust Inc. now owns 529 shares of the company’s stock valued at $27,000 after purchasing an additional 403 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in ON by 210.5% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock worth $28,000 after buying an additional 400 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in ON in the 3rd quarter valued at $29,000. Finally, Quarry LP acquired a new stake in shares of ON in the 2nd quarter worth $32,000. 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 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.