KeyCorp Issues Positive Forecast for ON (NYSE:ONON) Stock Price

ON (NYSE:ONON - Free Report) had its price target upped by KeyCorp from $60.00 to $68.00 in a report issued on Thursday,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

Several other research firms also recently issued reports on ONON. Truist Financial upped their price objective on ON from $58.00 to $61.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Morgan Stanley raised their price target on shares of ON from $62.00 to $65.00 and gave the company an "overweight" rating in a research note on Tuesday. Citigroup assumed coverage on shares of ON in a research note on Wednesday, December 18th. They issued a "neutral" rating and a $65.00 price objective on the stock. UBS Group reaffirmed a "buy" rating and set a $63.00 target price on shares of ON in a research report on Friday, December 27th. Finally, Stifel Nicolaus increased their price target on ON from $60.00 to $66.00 and gave the company a "buy" rating in a research note on Wednesday, December 11th. Four analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $59.73.

ON Stock Up 3.3 %

Shares of NYSE ONON traded up $1.94 during midday trading on Thursday, reaching $60.50. 3,570,052 shares of the company were exchanged, compared to its average volume of 3,049,422. ON has a one year low of $26.03 and a one year high of $60.69. The stock has a market cap of $38.09 billion, a P/E ratio of 140.69, a PEG ratio of 1.23 and a beta of 2.30. The stock's 50-day moving average price is $56.37 and its 200-day moving average price is $49.28.

Institutional Investors Weigh In On ON

Institutional investors and hedge funds have recently made changes to their positions in the business. Cerity Partners LLC raised its holdings in shares of ON by 189.9% in the third quarter. Cerity Partners LLC now owns 719,493 shares of the company's stock valued at $36,083,000 after purchasing an additional 471,323 shares during the last quarter. AXA S.A. increased its stake in ON by 0.4% in the 2nd quarter. AXA S.A. now owns 605,081 shares of the company's stock valued at $23,477,000 after buying an additional 2,259 shares during the last quarter. Lord Abbett & CO. LLC lifted its position in shares of ON by 338.3% during the 3rd quarter. Lord Abbett & CO. LLC now owns 594,901 shares of the company's stock worth $29,834,000 after buying an additional 459,157 shares in the last quarter. Sei Investments Co. boosted its stake in shares of ON by 3.6% in the 2nd quarter. Sei Investments Co. now owns 544,144 shares of the company's stock worth $21,113,000 after buying an additional 18,666 shares during the last quarter. Finally, Wasatch Advisors LP grew its holdings in shares of ON by 4.3% in the third quarter. Wasatch Advisors LP now owns 419,536 shares of the company's stock valued at $21,040,000 after acquiring an additional 17,362 shares in the last quarter. Institutional investors and hedge funds own 36.39% of the company's stock.

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.