ON (NYSE:ONON - Free Report) had its price objective reduced by Piper Sandler from $62.00 to $55.00 in a research note released on Friday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.
Several other brokerages also recently weighed in on ONON. Needham & Company LLC lowered their target price on shares of ON from $64.00 to $50.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. Hsbc Global Res raised ON from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 11th. Stifel Nicolaus lowered their price target on ON from $66.00 to $57.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Jefferies Financial Group initiated coverage on shares of ON in a research report on Tuesday, April 1st. They issued a "hold" rating and a $44.00 price objective for the company. Finally, KeyCorp reissued an "overweight" rating and set a $68.00 target price on shares of ON in a research report on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, ON has an average rating of "Moderate Buy" and a consensus price target of $60.00.
Check Out Our Latest Research Report on ONON
ON Stock Performance
ONON stock traded down $1.17 during trading on Friday, reaching $41.50. 1,723,185 shares of the company traded hands, compared to its average volume of 4,636,710. The company has a market capitalization of $26.13 billion, a price-to-earnings ratio of 96.51, a price-to-earnings-growth ratio of 1.02 and a beta of 2.32. The business has a 50 day simple moving average of $47.07 and a 200 day simple moving average of $51.89. ON has a 12 month low of $29.84 and a 12 month high of $64.05.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the company. Park Square Financial Group LLC purchased a new position in shares of ON in the fourth quarter worth about $32,000. MassMutual Private Wealth & Trust FSB purchased a new position in ON in the 1st quarter worth approximately $32,000. Legacy Bridge LLC acquired a new position in shares of ON during the 4th quarter worth approximately $43,000. Bernard Wealth Management Corp. purchased a new stake in shares of ON in the fourth quarter valued at approximately $44,000. Finally, Arcadia Investment Management Corp MI acquired a new stake in shares of ON in the fourth quarter valued at approximately $53,000. 36.39% of the stock is owned by institutional investors and hedge funds.
About ON
(
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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.
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