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

ON (NYSE:ONON) had its target price boosted by Stifel Nicolaus from $57.00 to $66.00 in a report released on Wednesday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

A number of other equities research analysts have also weighed in on the stock. Citigroup raised shares of ON from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $65.00 to $60.00 in a report on Monday, April 28th. Williams Trading upped their target price on ON from $60.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Barclays set a $68.00 price objective on shares of ON in a research report on Wednesday. Jefferies Financial Group began coverage on shares of ON in a research note on Tuesday, April 1st. They issued a “hold” rating and a $44.00 price target for the company. Finally, Piper Sandler dropped their price target on ON from $62.00 to $55.00 and set an “overweight” rating on the stock in a research note on Friday, April 11th. Two research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $61.73.

ON Trading Down 0.8%

Shares of NYSE:ONON opened at $59.79 on Wednesday. The firm has a 50 day moving average of $46.16 and a 200-day moving average of $51.70. The stock has a market capitalization of $37.64 billion, a PE ratio of 139.04, a PEG ratio of 1.02 and a beta of 2.30. ON has a 12 month low of $34.59 and a 12 month high of $64.05.

Institutional Investors Weigh In On ON

Several hedge funds and other institutional investors have recently modified their holdings of ONON. Park Avenue Securities LLC boosted its position in shares of ON by 19.1% in the fourth quarter. Park Avenue Securities LLC now owns 16,006 shares of the company’s stock worth $877,000 after purchasing an additional 2,565 shares during the period. Merit Financial Group LLC purchased a new stake in shares of ON in the fourth quarter worth about $653,000. Capricorn Fund Managers Ltd bought a new stake in ON in the fourth quarter worth $3,536,000. Bennett Selby Investments LP lifted its position in ON by 7.8% during the fourth quarter. Bennett Selby Investments LP now owns 21,849 shares of the company’s stock valued at $1,197,000 after purchasing an additional 1,578 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of ON by 148.8% in the 4th quarter. Blue Trust Inc. now owns 1,316 shares of the company’s stock valued at $66,000 after acquiring an additional 787 shares during the last quarter. 36.39% 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 such as footwear, apparel, and accessories for high-performance running, outdoor, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.