Morgan Stanley Raises ON (NYSE:ONON) Price Target to $65.00

ON (NYSE:ONON - Free Report) had its price objective upped by Morgan Stanley from $62.00 to $65.00 in a report issued on Tuesday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

Other research analysts have also recently issued reports about the stock. Williams Trading upgraded shares of ON from a "hold" rating to a "buy" rating and increased their price objective for the company from $40.00 to $60.00 in a report on Wednesday, November 13th. Bank of America began coverage on ON in a research report on Tuesday, January 7th. They set a "buy" rating and a $73.00 price target on the stock. Needham & Company LLC reissued a "buy" rating and set a $64.00 price objective on shares of ON in a research note on Wednesday, January 15th. BTIG Research raised ON from a "neutral" rating to a "buy" rating and set a $64.00 target price on the stock in a research report on Wednesday, November 13th. Finally, TD Cowen lifted their price target on ON from $65.00 to $66.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Four investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, ON has a consensus rating of "Moderate Buy" and an average price target of $59.36.

ON Stock Up 3.5 %

Shares of ONON traded up $2.03 during mid-day trading on Tuesday, hitting $60.01. The stock had a trading volume of 4,656,339 shares, compared to its average volume of 3,026,935. ON has a fifty-two week low of $26.03 and a fifty-two week high of $60.60. The company's fifty day simple moving average is $56.11 and its two-hundred day simple moving average is $49.06. The company has a market cap of $37.78 billion, a PE ratio of 139.56, a PEG ratio of 1.19 and a beta of 2.30.

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Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Capital Advisors Inc. OK boosted its stake in ON by 5.1% in the 3rd quarter. Capital Advisors Inc. OK now owns 6,186 shares of the company's stock worth $310,000 after purchasing an additional 301 shares during the period. Sage Capital Advisors llc boosted its position in ON by 0.3% during the 3rd quarter. Sage Capital Advisors llc now owns 99,859 shares of the company's stock worth $5,008,000 after acquiring an additional 328 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in shares of ON by 210.5% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company's stock worth $28,000 after acquiring an additional 400 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of 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 purchasing an additional 403 shares during the last quarter. Finally, Private Trust Co. NA acquired a new position in ON during the third quarter worth $26,000. Institutional investors own 36.39% of the company's stock.

About ON

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.