ON (NYSE:ONON) Price Target Raised to $64.00

ON (NYSE:ONON - Get Free Report) had its price objective lifted by analysts at Barclays from $63.00 to $64.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Barclays's price objective would suggest a potential upside of 37.04% from the company's previous close.

ONON has been the subject of a number of other reports. Bank of America began coverage on ON in a report on Tuesday, January 7th. They set a "buy" rating and a $73.00 target price for the company. Robert W. Baird raised their target price on ON from $55.00 to $63.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. Needham & Company LLC restated a "buy" rating and set a $64.00 target price on shares of ON in a report on Tuesday, March 4th. BTIG Research upgraded ON from a "neutral" rating to a "buy" rating and set a $64.00 target price for the company in a report on Wednesday, November 13th. Finally, UBS Group reissued a "buy" rating and set a $63.00 target price on shares of ON in a research report on Friday, December 27th. Four investment 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 stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $61.62.

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ON Trading Down 5.7 %

NYSE:ONON traded down $2.83 during trading hours on Wednesday, hitting $46.70. The company had a trading volume of 6,559,942 shares, compared to its average volume of 4,544,731. The company has a 50-day moving average of $54.90 and a 200 day moving average of $52.51. The company has a market cap of $29.40 billion, a P/E ratio of 108.61, a P/E/G ratio of 1.02 and a beta of 2.35. ON has a 1 year low of $27.37 and a 1 year high of $64.05.

Institutional Trading of ON

Several large investors have recently added to or reduced their stakes in the business. Park Square Financial Group LLC acquired a new position in shares of ON during the 4th quarter valued at $32,000. Azzad Asset Management Inc. ADV lifted its position in shares of ON by 0.4% in the fourth quarter. Azzad Asset Management Inc. ADV now owns 146,393 shares of the company's stock worth $8,018,000 after buying an additional 608 shares during the last quarter. Bernard Wealth Management Corp. acquired a new stake in shares of ON in the fourth quarter worth about $44,000. B. Riley Wealth Advisors Inc. lifted its position in shares of ON by 9.8% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 8,105 shares of the company's stock worth $444,000 after buying an additional 726 shares during the last quarter. Finally, Mackenzie Financial Corp bought a new position in shares of ON in the fourth quarter worth about $425,000. 36.39% of the stock is currently owned by institutional investors and hedge funds.

ON Company Profile

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.