ON (NYSE:ONON) Coverage Initiated by Analysts at Jefferies Financial Group

Jefferies Financial Group assumed coverage on shares of ON (NYSE:ONON - Free Report) in a research note published on Tuesday, Marketbeat reports. The firm issued a hold rating and a $44.00 price target on the stock.

A number of other research firms also recently commented on ONON. Citigroup initiated coverage on shares of ON in a research report on Wednesday, December 18th. They issued a "neutral" rating and a $65.00 target price for the company. Bank of America began coverage on ON in a research report on Tuesday, January 7th. They set a "buy" rating and a $73.00 price objective for the company. TD Cowen raised their target price on ON from $65.00 to $66.00 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. Hsbc Global Res upgraded ON from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 11th. Finally, UBS Group increased their price objective on shares of ON from $65.00 to $73.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. Three investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, ON has an average rating of "Moderate Buy" and a consensus price target of $60.45.

ON Stock Up 5.1 %

Shares of NYSE ONON traded up $1.91 during trading on Tuesday, reaching $39.56. 20,419,446 shares of the company traded hands, compared to its average volume of 4,529,077. The firm has a 50 day simple moving average of $50.77 and a 200-day simple moving average of $52.48. ON has a 52-week low of $29.84 and a 52-week high of $64.05. The stock has a market capitalization of $24.91 billion, a PE ratio of 92.00, a P/E/G ratio of 1.02 and a beta of 2.35.

Remove Ads

Hedge Funds Weigh In On ON

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Bank of Montreal Can increased its stake in ON by 27.2% during the third quarter. Bank of Montreal Can now owns 46,320 shares of the company's stock worth $2,368,000 after acquiring an additional 9,895 shares during the last quarter. Townsquare Capital LLC bought a new stake in ON in the third quarter worth $609,000. Rockefeller Capital Management L.P. boosted its stake in ON by 5.0% during the third quarter. Rockefeller Capital Management L.P. now owns 58,339 shares of the company's stock worth $2,926,000 after buying an additional 2,755 shares during the period. Verition Fund Management LLC increased its position in ON by 94.0% during the third quarter. Verition Fund Management LLC now owns 125,878 shares of the company's stock valued at $6,313,000 after acquiring an additional 60,976 shares during the last quarter. Finally, Paloma Partners Management Co purchased a new stake in shares of ON in the third quarter valued at $336,000. 36.39% of the stock is owned by hedge funds and other institutional investors.

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.