Brokerages Set On Holding AG (NYSE:ONON) Price Target at $61.90

On Holding AG (NYSE:ONON) has received an average rating of “Buy” from the twenty-three ratings firms that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $61.90.

ONON has been the topic of a number of recent analyst reports. TD Cowen increased their price objective on shares of ON from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. UBS Group increased their price objective on shares of ON from $65.00 to $73.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $67.00 target price on shares of ON in a research report on Tuesday, March 4th. Citigroup began coverage on shares of ON in a research report on Wednesday, December 18th. They set a “neutral” rating and a $65.00 target price on the stock. Finally, KeyCorp reaffirmed an “overweight” rating and set a $68.00 target price on shares of ON in a research report on Wednesday, March 5th.

Institutional Investors Weigh In On ON

Several institutional investors have recently bought and sold shares of the company. Wealthedge Investment Advisors LLC acquired a new stake in ON in the fourth quarter valued at approximately $1,556,000. Park Square Financial Group LLC acquired a new stake in ON in the fourth quarter valued at approximately $32,000. Azzad Asset Management Inc. ADV boosted its stake in ON by 0.4% in the fourth quarter. Azzad Asset Management Inc. ADV now owns 146,393 shares of the company’s stock valued at $8,018,000 after acquiring an additional 608 shares in the last quarter. Bernard Wealth Management Corp. acquired a new stake in ON in the fourth quarter valued at approximately $44,000. Finally, B. Riley Wealth Advisors Inc. boosted its stake in ON by 9.8% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 8,105 shares of the company’s stock valued at $444,000 after acquiring an additional 726 shares in the last quarter. 36.39% of the stock is currently owned by institutional investors and hedge funds.

ON Price Performance

ON stock opened at $46.41 on Friday. ON has a 1-year low of $29.84 and a 1-year high of $64.05. The firm has a market capitalization of $29.22 billion, a P/E ratio of 107.93, a price-to-earnings-growth ratio of 1.02 and a beta of 2.35. The company’s 50-day moving average is $53.94 and its 200 day moving average is $52.66.

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.