ON (NYSE:ONON) Now Covered by Bank of America

Equities research analysts at Bank of America started coverage on shares of ON (NYSE:ONON - Get Free Report) in a research note issued to investors on Tuesday, Marketbeat.com reports. The brokerage set a "buy" rating and a $73.00 price target on the stock. Bank of America's price objective indicates a potential upside of 32.22% from the stock's previous close.

A number of other research firms also recently commented on ONON. TD Cowen lifted their price objective on shares of ON from $58.00 to $60.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. The Goldman Sachs Group lifted their target price on ON from $50.00 to $57.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Stifel Nicolaus upped their target price on ON from $60.00 to $66.00 and gave the company a "buy" rating in a report on Wednesday, December 11th. Truist Financial raised their price target on ON from $58.00 to $61.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Finally, UBS Group restated a "buy" rating and set a $63.00 price objective on shares of ON in a research note on Friday, December 27th. Four 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.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $57.59.

ON Price Performance

NYSE:ONON traded up $0.59 during mid-day trading on Tuesday, reaching $55.21. The stock had a trading volume of 2,920,707 shares, compared to its average volume of 2,729,649. ON has a 1-year low of $26.03 and a 1-year high of $60.12. The company has a market capitalization of $34.76 billion, a price-to-earnings ratio of 128.40 and a beta of 2.30. The stock's 50 day simple moving average is $54.80 and its two-hundred day simple moving average is $47.92.

Institutional Trading of ON

Hedge funds and other institutional investors have recently modified their holdings of the company. Private Trust Co. NA bought a new position in shares of ON in the third quarter valued at $26,000. Blue Trust Inc. grew its holdings in shares of ON by 319.8% in the 3rd quarter. Blue Trust Inc. now owns 529 shares of the company's stock worth $27,000 after acquiring an additional 403 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in shares of ON by 210.5% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company's stock worth $28,000 after purchasing an additional 400 shares during the period. MidAtlantic Capital Management Inc. acquired a new position in shares of ON in the 3rd quarter valued at $29,000. Finally, Quarry LP acquired a new position in shares of ON in the 2nd quarter valued at $32,000. Institutional investors own 36.39% of the company's stock.

About ON

On Holding AG engages in the development and distribution of sports products 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.