KeyCorp Cuts ON (NYSE:ONON) Price Target to $60.00

ON (NYSE:ONON) had its price objective decreased by KeyCorp from $68.00 to $60.00 in a report published on Tuesday morning,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

A number of other equities analysts have also recently weighed in on ONON. Telsey Advisory Group reaffirmed an “outperform” rating and set a $67.00 price objective on shares of ON in a research report on Tuesday, April 1st. Bank of America started coverage on shares of ON in a research report on Tuesday, January 7th. They set a “buy” rating and a $73.00 price objective for the company. Williams Trading increased their price objective on shares of ON from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. TD Cowen increased their price objective on shares of ON from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Finally, Jefferies Financial Group began coverage on shares of ON in a research report on Tuesday, April 1st. They set a “hold” rating and a $44.00 price objective for the company. Two research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $58.77.

ON Stock Performance

NYSE:ONON opened at $47.72 on Tuesday. The stock has a market capitalization of $30.05 billion, a P/E ratio of 110.98, a PEG ratio of 1.02 and a beta of 2.32. The company has a 50 day moving average price of $45.17 and a 200 day moving average price of $51.41. ON has a fifty-two week low of $29.84 and a fifty-two week high of $64.05.

Institutional Investors Weigh In On ON

Several hedge funds and other institutional investors have recently bought and sold shares of ONON. Strategic Financial Concepts LLC acquired a new stake in ON during the 4th quarter worth $30,000. Park Square Financial Group LLC acquired a new stake in ON during the 4th quarter worth $32,000. MassMutual Private Wealth & Trust FSB acquired a new stake in ON during the 1st quarter worth $32,000. Legacy Bridge LLC acquired a new stake in ON during the 4th quarter worth $43,000. Finally, Bernard Wealth Management Corp. acquired a new stake in ON during the 4th quarter worth $44,000. 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.