ON's (ONON) Buy Rating Reaffirmed at Needham & Company LLC

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

Several other equities analysts also recently issued reports on ONON. KeyCorp lifted their price objective on ON from $47.00 to $60.00 and gave the company an "overweight" rating in a research report on Thursday, September 26th. Robert W. Baird lifted their price objective on ON from $55.00 to $63.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. Truist Financial lifted 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. Piper Sandler lifted their price objective on ON from $52.00 to $56.00 and gave the company an "overweight" rating in a research report on Thursday, October 3rd. Finally, Bank of America assumed coverage on ON in a research report on Tuesday, January 7th. They set a "buy" rating and a $73.00 target price for the company. Four investment 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 stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $58.50.

ON Trading Up 2.8 %

ONON stock traded up $1.55 during trading on Wednesday, hitting $56.27. The company had a trading volume of 2,405,489 shares, compared to its average volume of 2,660,863. The company has a fifty day moving average price of $55.75 and a two-hundred day moving average price of $48.55. The company has a market cap of $35.43 billion, a P/E ratio of 130.87, a P/E/G ratio of 1.16 and a beta of 2.30. ON has a fifty-two week low of $26.03 and a fifty-two week high of $60.12.

Institutional Investors Weigh In On ON

A number of institutional investors have recently made changes to their positions in ONON. Merit Financial Group LLC acquired a new position in ON in the fourth quarter valued at about $653,000. Park Avenue Securities LLC grew its stake in ON by 19.1% in the fourth quarter. Park Avenue Securities LLC now owns 16,006 shares of the company's stock valued at $877,000 after acquiring an additional 2,565 shares during the period. Tsfg LLC grew its stake in ON by 143.6% in the fourth quarter. Tsfg LLC now owns 3,338 shares of the company's stock valued at $183,000 after acquiring an additional 1,968 shares during the period. Watts Gwilliam & Co. LLC grew its stake in ON by 3.7% in the fourth quarter. Watts Gwilliam & Co. LLC now owns 64,830 shares of the company's stock valued at $3,584,000 after acquiring an additional 2,330 shares during the period. Finally, Diversified Trust Co acquired a new position in ON in the fourth quarter valued at about $995,000. 36.39% of the stock is owned by institutional investors and hedge funds.

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.