ON (NYSE:ONON) Stock Price Expected to Rise, UBS Group Analyst Says

ON (NYSE:ONON) had its price target increased by equities researchers at UBS Group from $65.00 to $73.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s price objective would suggest a potential upside of 38.73% from the stock’s current price.

ONON has been the subject of several other reports. KeyCorp reaffirmed an “overweight” rating and issued a $68.00 target price on shares of ON in a report on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $64.00 price objective on shares of ON in a research report on Tuesday. Citigroup started coverage on ON in a report on Wednesday, December 18th. They issued a “neutral” rating and a $65.00 target price for the company. Bank of America began coverage on ON in a report on Tuesday, January 7th. They set a “buy” rating and a $73.00 price target on the stock. Finally, Truist Financial lifted their price objective on ON from $58.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Five equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $60.36.

ON Stock Up 3.9 %

Shares of NYSE ONON traded up $1.99 during trading on Wednesday, reaching $52.62. The company had a trading volume of 7,194,974 shares, compared to its average volume of 4,557,430. The business’s 50-day moving average is $55.29 and its 200 day moving average is $52.50. The stock has a market cap of $33.13 billion, a PE ratio of 122.37, a P/E/G ratio of 1.02 and a beta of 2.30. ON has a 12-month low of $27.37 and a 12-month high of $64.05.

Institutional Trading of ON

A number of large investors have recently made changes to their positions in ONON. International Assets Investment Management LLC purchased a new position in ON in the third quarter worth about $699,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of ON by 11.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 18,002 shares of the company’s stock worth $903,000 after purchasing an additional 1,899 shares during the period. US Bancorp DE increased its position in shares of ON by 207.7% during the 3rd quarter. US Bancorp DE now owns 17,649 shares of the company’s stock valued at $885,000 after purchasing an additional 11,914 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in ON by 20.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,255 shares of the company’s stock valued at $213,000 after buying an additional 722 shares during the period. Finally, Asset Management One Co. Ltd. lifted its position in ON by 34.1% in the third quarter. Asset Management One Co. Ltd. now owns 25,031 shares of the company’s stock worth $1,255,000 after buying an additional 6,365 shares during the last quarter. 36.39% of the stock is currently owned by institutional investors.

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.