ON (NYSE:ONON) Stock Price Expected to Rise, Morgan Stanley Analyst Says

ON (NYSE:ONON) had its price objective hoisted by Morgan Stanley from $62.00 to $65.00 in a report issued on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts also recently commented on ONON. Bank of America started coverage on ON in a research report on Tuesday, January 7th. They issued a “buy” rating and a $73.00 price target on the stock. Stifel Nicolaus boosted their target price on shares of ON from $60.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. The Goldman Sachs Group increased their price target on shares of ON from $50.00 to $57.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Truist Financial boosted their price objective on shares of ON from $58.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Raymond James upgraded shares of ON from an “outperform” rating to a “strong-buy” rating and increased their target price for the company from $58.00 to $63.00 in a research note on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $59.73.

ON Stock Up 3.3 %

NYSE ONON opened at $60.50 on Tuesday. The company has a 50 day moving average price of $56.37 and a two-hundred day moving average price of $49.28. ON has a 12-month low of $26.03 and a 12-month high of $60.69. The stock has a market capitalization of $38.09 billion, a PE ratio of 140.69, a price-to-earnings-growth ratio of 1.23 and a beta of 2.30.

Hedge Funds Weigh In On ON

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capital Advisors Inc. OK raised its stake in ON by 5.1% during the third quarter. Capital Advisors Inc. OK now owns 6,186 shares of the company’s stock valued at $310,000 after buying an additional 301 shares during the last quarter. Sage Capital Advisors llc increased its holdings in shares of ON by 0.3% during the third quarter. Sage Capital Advisors llc now owns 99,859 shares of the company’s stock valued at $5,008,000 after acquiring an additional 328 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in shares of 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 purchasing an additional 400 shares during the last quarter. Blue Trust Inc. boosted its stake in ON by 319.8% in the 3rd quarter. Blue Trust Inc. now owns 529 shares of the company’s stock worth $27,000 after purchasing an additional 403 shares in the last quarter. Finally, Private Trust Co. NA purchased a new stake in ON during the 3rd quarter valued at about $26,000. 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.