ON (NYSE:ONON) Earns "Buy" Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of ON (NYSE:ONON - Free Report) in a report published on Tuesday,Benzinga reports. They currently have a $64.00 price objective on the stock.

A number of other research firms also recently weighed in on ONON. Stifel Nicolaus upped their price target on shares of ON from $60.00 to $66.00 and gave the stock a "buy" rating in a research note on Wednesday, December 11th. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $67.00 target price on shares of ON in a research report on Tuesday. TD Cowen lifted their price target on ON from $65.00 to $66.00 and gave the company a "buy" rating in a report on Wednesday, January 8th. Williams Trading upgraded ON from a "hold" rating to a "buy" rating and increased their price objective for the stock from $40.00 to $60.00 in a report on Wednesday, November 13th. Finally, Morgan Stanley lifted their target price on shares of ON from $62.00 to $65.00 and gave the company an "overweight" rating in a research note on Tuesday, January 21st. Four equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $61.62.

ON Stock Performance

Shares of ONON stock traded down $2.83 on Tuesday, reaching $46.70. 6,559,942 shares of the company's stock traded hands, compared to its average volume of 4,552,856. The company has a market capitalization of $29.40 billion, a P/E ratio of 108.61, a price-to-earnings-growth ratio of 1.02 and a beta of 2.35. ON has a 12-month low of $27.37 and a 12-month high of $64.05. The business's 50 day moving average price is $54.90 and its two-hundred day moving average price is $52.51.

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Hedge Funds Weigh In On ON

Several hedge funds and other institutional investors have recently modified their holdings of ONON. International Assets Investment Management LLC acquired a new stake in shares of ON during the 3rd quarter valued at $699,000. Wealth Enhancement Advisory Services LLC raised its position in ON by 11.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 18,002 shares of the company's stock valued at $903,000 after purchasing an additional 1,899 shares during the last quarter. US Bancorp DE boosted its stake in shares of ON by 207.7% during the third quarter. US Bancorp DE now owns 17,649 shares of the company's stock valued at $885,000 after purchasing an additional 11,914 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of ON by 20.4% during the third quarter. Farther Finance Advisors LLC now owns 4,255 shares of the company's stock worth $213,000 after purchasing an additional 722 shares during the last quarter. Finally, KG&L Capital Management LLC acquired a new position in shares of ON in the third quarter valued at approximately $275,000. Institutional investors 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.