Barclays Issues Positive Forecast for ON (NYSE:ONON) Stock Price

ON (NYSE:ONON) had its target price boosted by Barclays from $47.00 to $63.00 in a research note issued to investors on Wednesday,Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other brokerages have also weighed in on ONON. Bank of America upgraded shares of ON from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $21.00 to $55.00 in a research report on Monday, September 23rd. Raymond James began coverage on shares of ON in a report on Wednesday, July 31st. They set an “outperform” rating and a $46.00 price objective for the company. Truist Financial lifted their target price on ON from $51.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Williams Trading raised ON from a “hold” rating to a “buy” rating and increased their price target for the company from $40.00 to $60.00 in a research note on Wednesday. Finally, Hsbc Global Res raised ON to a “hold” rating in a research note on Thursday, September 5th. Four research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $54.33.

ON Trading Down 2.7 %

NYSE ONON opened at $51.92 on Wednesday. ON has a 12 month low of $25.78 and a 12 month high of $56.44. The stock’s 50 day moving average is $49.56 and its 200 day moving average is $43.25. The stock has a market cap of $32.69 billion, a PE ratio of 120.75 and a beta of 2.25.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ONON. Private Trust Co. NA purchased a new position in ON during the 3rd quarter valued at $26,000. Blue Trust Inc. boosted its stake in shares of ON by 319.8% during 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 period. MidAtlantic Capital Management Inc. bought a new position in shares of ON in the third quarter worth about $29,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in ON by 210.5% in the 3rd 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 period. Finally, Quarry LP bought a new stake in ON during the 2nd quarter valued at about $32,000. Institutional investors own 33.11% 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.