ON (NYSE:ONON) Price Target Raised to $66.00

ON (NYSE:ONON) had its target price raised by equities researchers at TD Cowen from $65.00 to $66.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s price target indicates a potential upside of 18.83% from the stock’s previous close.

A number of other brokerages have also recently commented on ONON. UBS Group reiterated a “buy” rating and set a $63.00 target price on shares of ON in a report on Friday, December 27th. Barclays boosted their target price on shares of ON from $47.00 to $63.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Citigroup started coverage on shares of ON in a research note on Wednesday, December 18th. They set a “neutral” rating and a $65.00 price objective on the stock. Stifel Nicolaus boosted their price target on ON from $60.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Finally, Needham & Company LLC assumed coverage on ON in a report on Friday, November 22nd. They issued a “buy” rating and a $64.00 price target for the company. Four research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $57.86.

ON Trading Up 0.5 %

Shares of ONON opened at $55.54 on Wednesday. The company has a 50-day moving average of $54.94 and a two-hundred day moving average of $47.97. The stock has a market cap of $34.97 billion, a P/E ratio of 129.17 and a beta of 2.30. ON has a 12-month low of $26.03 and a 12-month high of $60.12.

Institutional Trading of ON

A number of hedge funds have recently made changes to their positions in the company. Private Trust Co. NA purchased a new position in shares of ON in the third quarter valued at $26,000. Blue Trust Inc. boosted its position in ON by 319.8% in the 3rd quarter. Blue Trust Inc. now owns 529 shares of the company’s stock valued at $27,000 after buying an additional 403 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in shares of ON by 210.5% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock valued at $28,000 after acquiring an additional 400 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new position in shares of ON in the third quarter worth about $29,000. Finally, Quarry LP purchased a new position in ON in the second quarter valued at about $32,000. 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 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.