ON (NYSE:ONON) Price Target Raised to $66.00 at Stifel Nicolaus

ON (NYSE:ONON) had its target price boosted by Stifel Nicolaus from $57.00 to $66.00 in a report issued on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

ONON has been the topic of several other reports. Needham & Company LLC lifted their price objective on ON from $55.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday. UBS Group boosted their price target on ON from $56.00 to $59.00 and gave the company a “buy” rating in a report on Monday, April 28th. Williams Trading boosted their price objective on ON from $60.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Citigroup upgraded ON from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $65.00 to $60.00 in a research report on Monday, April 28th. Finally, KeyCorp upped their price objective on ON from $60.00 to $68.00 and gave the company an “overweight” rating in a report on Wednesday. Two analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $61.73.

ON Stock Performance

ON stock opened at $57.36 on Wednesday. The stock’s 50 day moving average price is $45.55 and its 200 day moving average price is $51.56. The firm has a market capitalization of $36.12 billion, a PE ratio of 133.40, a price-to-earnings-growth ratio of 1.02 and a beta of 2.30. ON has a one year low of $34.59 and a one year high of $64.05.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. FMR LLC boosted its stake in shares of ON by 1.6% during the 4th quarter. FMR LLC now owns 28,875,965 shares of the company’s stock worth $1,581,537,000 after acquiring an additional 462,738 shares in the last quarter. Alliancebernstein L.P. boosted its stake in ON by 2.8% during the 4th quarter. Alliancebernstein L.P. now owns 17,378,277 shares of the company’s stock valued at $951,808,000 after purchasing an additional 471,805 shares during the period. Jennison Associates LLC lifted its position in shares of ON by 136.6% in the 1st quarter. Jennison Associates LLC now owns 4,848,438 shares of the company’s stock worth $212,943,000 after acquiring an additional 2,798,794 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in shares of ON by 1.0% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,395,611 shares of the company’s stock worth $149,136,000 after buying an additional 34,120 shares during the period. Finally, Norges Bank bought a new position in shares of ON during the 4th quarter worth approximately $164,574,000. 36.39% of the stock is 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, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.