ON (NYSE:ONON) Earns Buy Rating from UBS Group

UBS Group reaffirmed their buy rating on shares of ON (NYSE:ONON - Free Report) in a research note published on Friday morning,Benzinga reports. They currently have a $63.00 price target on the stock.

Several other research analysts have also issued reports on ONON. BTIG Research raised shares of ON from a "neutral" rating to a "buy" rating and set a $64.00 price target for the company in a research report on Wednesday, November 13th. Robert W. Baird increased their target price on ON from $55.00 to $63.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. Barclays boosted their price target on ON from $47.00 to $63.00 and gave the company an "overweight" rating in a research note on Wednesday, November 13th. Piper Sandler increased their price objective on ON from $52.00 to $56.00 and gave the stock an "overweight" rating in a research note on Thursday, October 3rd. Finally, Raymond James raised ON from an "outperform" rating to a "strong-buy" rating and lifted their price objective for the company from $58.00 to $63.00 in a report on Thursday, November 21st. Five 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 data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $56.77.

ON Trading Down 1.3 %

ONON traded down $0.76 on Friday, hitting $55.63. 1,527,824 shares of the stock traded hands, compared to its average volume of 4,732,592. The business has a fifty day moving average price of $53.79 and a two-hundred day moving average price of $47.12. ON has a 52 week low of $25.78 and a 52 week high of $60.12. The firm has a market capitalization of $35.03 billion, a PE ratio of 129.38 and a beta of 2.30.

Hedge Funds Weigh In On ON

Several large investors have recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. grew its position in shares of ON by 23.7% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 44,247 shares of the company's stock worth $1,717,000 after buying an additional 8,491 shares during the period. Principal Financial Group Inc. bought a new stake in ON in the second quarter valued at approximately $2,009,000. Crossmark Global Holdings Inc. raised its holdings in ON by 3.2% in the second quarter. Crossmark Global Holdings Inc. now owns 10,423 shares of the company's stock worth $404,000 after purchasing an additional 325 shares during the period. Baltimore Washington Financial Advisors Inc. boosted its position in shares of ON by 1.5% during the second quarter. Baltimore Washington Financial Advisors Inc. now owns 303,351 shares of the company's stock worth $11,770,000 after purchasing an additional 4,431 shares in the last quarter. Finally, Van ECK Associates Corp acquired a new position in shares of ON in the 2nd quarter valued at $257,000. 36.39% of the stock is currently owned by institutional investors and hedge funds.

About ON

On Holding AG engages in the development and distribution of sports products worldwide. The company offers athletic footwear, apparel, and accessories for high-performance running, outdoor, training, all-day activities, and tennis. It offers its products through independent retailers and distributors, online, and stores.