ON (NYSE:ONON) Given New $68.00 Price Target at KeyCorp

ON (NYSE:ONON - Free Report) had its target price raised by KeyCorp from $60.00 to $68.00 in a research note released on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts have also weighed in on ONON. Raymond James raised shares of ON from an "outperform" rating to a "strong-buy" rating and raised their price objective for the stock from $58.00 to $63.00 in a report on Thursday, November 21st. Citigroup initiated coverage on ON in a research report on Wednesday, December 18th. They issued a "neutral" rating and a $65.00 price objective for the company. Piper Sandler increased their target price on ON from $52.00 to $56.00 and gave the stock an "overweight" rating in a report on Thursday, October 3rd. UBS Group reaffirmed a "buy" rating and issued a $63.00 price target on shares of ON in a report on Friday, December 27th. Finally, Barclays increased their price objective on shares of ON from $47.00 to $63.00 and gave the stock an "overweight" rating in a report on Wednesday, November 13th. Four research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $59.73.

ON Trading Down 0.4 %

NYSE:ONON traded down $0.24 during mid-day trading on Thursday, hitting $60.21. The company's stock had a trading volume of 2,709,278 shares, compared to its average volume of 3,027,191. The stock has a fifty day moving average of $56.68 and a 200-day moving average of $49.52. The company has a market capitalization of $37.91 billion, a price-to-earnings ratio of 140.02, a P/E/G ratio of 1.19 and a beta of 2.30. ON has a fifty-two week low of $26.10 and a fifty-two week high of $60.99.

Institutional Trading of ON

Several hedge funds have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. lifted its stake in ON by 66.0% in the second quarter. Envestnet Asset Management Inc. now owns 222,955 shares of the company's stock valued at $8,651,000 after buying an additional 88,656 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in shares of ON by 27.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 7,317 shares of the company's stock worth $273,000 after acquiring an additional 1,581 shares during the period. Hsbc Holdings PLC lifted its position in ON by 183.6% in the 2nd quarter. Hsbc Holdings PLC now owns 71,944 shares of the company's stock valued at $2,822,000 after acquiring an additional 46,576 shares in the last quarter. Sei Investments Co. boosted its stake in 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 purchasing an additional 18,666 shares during the period. Finally, Gabelli Funds LLC increased its holdings in ON by 70.6% during the 2nd quarter. Gabelli Funds LLC now owns 37,721 shares of the company's stock worth $1,464,000 after purchasing an additional 15,608 shares in the last quarter. Institutional investors and hedge funds 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.