ON (NYSE:ONON) Coverage Initiated by Analysts at Citigroup

Citigroup began coverage on shares of ON (NYSE:ONON) in a research note issued to investors on Wednesday, MarketBeat.com reports. The brokerage issued a neutral rating and a $65.00 price target on the stock.

Several other research firms also recently weighed in on ONON. The Goldman Sachs Group lifted their target price on ON from $50.00 to $57.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Piper Sandler lifted their price objective on shares of ON from $52.00 to $56.00 and gave the company an “overweight” rating in a report on Thursday, October 3rd. UBS Group increased their target price on shares of ON from $61.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Telsey Advisory Group restated an “outperform” rating and issued a $53.00 price target on shares of ON in a research note on Tuesday, November 12th. Finally, Barclays increased their price objective on ON from $47.00 to $63.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Five 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $56.77.

ON Stock Performance

Shares of ONON traded up $0.42 during midday trading on Wednesday, hitting $55.18. 300,810 shares of the stock were exchanged, compared to its average volume of 4,786,063. The firm has a market cap of $34.74 billion, a P/E ratio of 128.33 and a beta of 2.30. ON has a 52-week low of $25.78 and a 52-week high of $60.12. The stock has a fifty day simple moving average of $52.95 and a 200 day simple moving average of $46.54.

Institutional Trading of ON

Institutional investors have recently modified their holdings of the stock. Private Trust Co. NA acquired a new stake in shares of ON in the 3rd quarter valued at about $26,000. Blue Trust Inc. lifted its stake in ON by 319.8% in the third quarter. Blue Trust Inc. now owns 529 shares of the company’s stock valued at $27,000 after buying an additional 403 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in shares of ON in the third quarter valued at approximately $29,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its holdings in shares of ON by 210.5% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock valued at $28,000 after acquiring an additional 400 shares during the period. Finally, Quarry LP purchased a new position in shares of ON during the second quarter worth approximately $32,000. 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 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.