ON (NYSE:ONON) Price Target Raised to $66.00

ON (NYSE:ONON - Free Report) had its price target increased by TD Cowen from $65.00 to $66.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts have also issued reports on ONON. Citigroup started coverage on shares of ON in a research report on Wednesday, December 18th. They issued a "neutral" rating and a $65.00 price target for the company. Robert W. Baird increased their target price on shares of ON from $55.00 to $63.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 13th. KeyCorp boosted their price target on shares of ON from $47.00 to $60.00 and gave the company an "overweight" rating in a report on Thursday, September 26th. Piper Sandler increased their price objective on ON from $52.00 to $56.00 and gave the stock an "overweight" rating in a report on Thursday, October 3rd. Finally, Telsey Advisory Group reissued an "outperform" rating and set a $53.00 price objective on shares of ON in a research report on Tuesday, November 12th. Four investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, ON presently has an average rating of "Moderate Buy" and an average target price of $57.86.

ON Stock Up 0.5 %

Shares of ON stock traded up $0.26 during midday trading on Wednesday, hitting $55.54. The company's stock had a trading volume of 2,396,576 shares, compared to its average volume of 2,663,042. The stock has a 50-day simple moving average of $54.80 and a 200-day simple moving average of $47.92. The firm has a market capitalization of $34.97 billion, a P/E ratio of 129.17 and a beta of 2.30. ON has a 1-year low of $26.03 and a 1-year high of $60.12.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. RB Capital Management LLC boosted its position in shares of ON by 214.8% during the 3rd quarter. RB Capital Management LLC now owns 22,426 shares of the company's stock valued at $1,125,000 after acquiring an additional 15,303 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its position in ON by 100.7% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,281,339 shares of the company's stock valued at $49,716,000 after acquiring an additional 642,894 shares during the period. Y Intercept Hong Kong Ltd raised its stake in ON by 584.8% during the third quarter. Y Intercept Hong Kong Ltd now owns 83,651 shares of the company's stock worth $4,195,000 after acquiring an additional 71,436 shares in the last quarter. Forte Capital LLC ADV bought a new position in shares of ON during the third quarter valued at $742,000. Finally, Coronation Fund Managers Ltd. boosted its stake in shares of ON by 248.6% in the 2nd quarter. Coronation Fund Managers Ltd. now owns 154,903 shares of the company's stock valued at $6,010,000 after purchasing an additional 110,467 shares in the last quarter. 36.39% of the stock is owned by institutional investors.

ON Company Profile

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.