ON (NYSE:ONON) Price Target Raised to $65.00

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

A number of other research analysts also recently weighed in on ONON. Needham & Company LLC restated a “buy” rating and set a $64.00 price objective on shares of ON in a research report on Wednesday, January 15th. Williams Trading upgraded shares of ON from a “hold” rating to a “buy” rating and boosted their target price for the company from $40.00 to $60.00 in a research note on Wednesday, November 13th. BTIG Research upgraded ON from a “neutral” rating to a “buy” rating and set a $64.00 price target on the stock in a research note on Wednesday, November 13th. Truist Financial upped their price objective on ON from $58.00 to $61.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, KeyCorp increased their target price on ON from $47.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, September 26th. Four research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.73.

ON Price Performance

Shares of ON stock opened at $60.50 on Tuesday. ON has a 1 year low of $26.03 and a 1 year high of $60.69. The company has a 50-day moving average of $56.37 and a 200 day moving average of $49.28. The firm has a market cap of $38.09 billion, a price-to-earnings ratio of 140.69, a PEG ratio of 1.23 and a beta of 2.30.

Institutional Trading of ON

A number of institutional investors and hedge funds have recently made changes to their positions in ONON. Private Trust Co. NA bought a new position in shares of ON in the third quarter valued at approximately $26,000. Blue Trust Inc. boosted its stake in ON by 319.8% during the 3rd quarter. Blue Trust Inc. now owns 529 shares of the company’s stock valued at $27,000 after purchasing an additional 403 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new position in shares of ON during the 3rd quarter valued at $29,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake 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 buying an additional 400 shares in the last quarter. Finally, Legacy Bridge LLC acquired a new stake in shares of ON in the fourth quarter valued at $43,000. 36.39% of the stock is currently owned by institutional investors and hedge funds.

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.