ON (NYSE:ONON) Price Target Raised to $62.00

ON (NYSE:ONON) had its target price boosted by Williams Trading from $60.00 to $62.00 in a research note released on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

ONON has been the subject of a number of other research reports. Stifel Nicolaus increased their price objective on shares of ON from $60.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. TD Cowen increased their price objective on shares of ON from $65.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Citigroup began coverage on shares of ON in a report on Wednesday, December 18th. They issued a “neutral” rating and a $65.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and issued a $64.00 price objective on shares of ON in a report on Tuesday. Finally, Bank of America initiated coverage on shares of ON in a research note on Tuesday, January 7th. They issued a “buy” rating and a $73.00 price target for the company. 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 company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $60.36.

ON Trading Down 5.4 %

ONON stock opened at $49.63 on Tuesday. The company has a market cap of $31.25 billion, a price-to-earnings ratio of 115.42, a PEG ratio of 1.02 and a beta of 2.35. ON has a 12 month low of $27.37 and a 12 month high of $64.05. The firm has a 50-day moving average of $55.21 and a two-hundred day moving average of $52.50.

Hedge Funds Weigh In On ON

A number of hedge funds have recently made changes to their positions in ONON. Capital Advisors Inc. OK boosted its position in ON by 3.2% in the 4th quarter. Capital Advisors Inc. OK now owns 6,386 shares of the company’s stock valued at $350,000 after buying an additional 200 shares during the period. Keystone Investors PTE Ltd. boosted its position in ON by 0.8% in the 4th quarter. Keystone Investors PTE Ltd. now owns 29,918 shares of the company’s stock valued at $1,639,000 after buying an additional 228 shares during the period. Concurrent Investment Advisors LLC boosted its position in ON by 2.8% in the 4th quarter. Concurrent Investment Advisors LLC now owns 9,413 shares of the company’s stock valued at $516,000 after buying an additional 259 shares during the period. CreativeOne Wealth LLC boosted its position in ON by 2.4% in the 4th quarter. CreativeOne Wealth LLC now owns 13,574 shares of the company’s stock valued at $743,000 after buying an additional 323 shares during the period. Finally, Atria Investments Inc boosted its position in ON by 6.6% in the 4th quarter. Atria Investments Inc now owns 5,515 shares of the company’s stock valued at $302,000 after buying an additional 341 shares during the period. Hedge funds and other institutional investors 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.