ON (NYSE:ONON) Earns Buy Rating from Analysts at Needham & Company LLC

Stock analysts at Needham & Company LLC started coverage on shares of ON (NYSE:ONON - Get Free Report) in a report released on Friday, Marketbeat.com reports. The firm set a "buy" rating and a $64.00 price target on the stock. Needham & Company LLC's target price indicates a potential upside of 9.80% from the company's current price.

Other research analysts also recently issued reports about the company. Truist Financial lifted their target price on ON from $58.00 to $61.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Barclays increased their price target on ON from $47.00 to $63.00 and gave the stock an "overweight" rating in a report on Wednesday, November 13th. Stifel Nicolaus boosted their price objective on shares of ON from $45.00 to $59.00 and gave the company a "buy" rating in a research note on Wednesday, September 18th. Piper Sandler raised their target price on shares of ON from $52.00 to $56.00 and gave the stock an "overweight" rating in a research note on Thursday, October 3rd. Finally, TD Cowen boosted their price target on shares of ON from $58.00 to $60.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. Four equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $56.05.

ON Trading Up 3.7 %

Shares of ONON traded up $2.10 during mid-day trading on Friday, hitting $58.29. 3,339,268 shares of the company's stock were exchanged, compared to its average volume of 4,938,353. ON has a fifty-two week low of $25.78 and a fifty-two week high of $58.51. The business's 50 day moving average is $50.15 and its two-hundred day moving average is $43.77. The firm has a market capitalization of $36.70 billion, a P/E ratio of 132.75 and a beta of 2.25.

Hedge Funds Weigh In On ON

Several hedge funds have recently added to or reduced their stakes in the business. Private Trust Co. NA acquired a new position in shares of ON in the third quarter worth $26,000. Blue Trust Inc. boosted its holdings in shares of ON by 319.8% during the third quarter. Blue Trust Inc. now owns 529 shares of the company's stock worth $27,000 after purchasing an additional 403 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in shares of ON in the third quarter valued at $29,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in shares of ON by 210.5% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company's stock valued at $28,000 after acquiring an additional 400 shares during the last quarter. Finally, Quarry LP acquired a new position in ON during the second quarter worth approximately $32,000. 33.11% of the stock is currently owned by hedge funds and other institutional investors.

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.