ON (NYSE:ONON) Price Target Raised to $69.00

ON (NYSE:ONON) had its price target raised by Truist Financial from $61.00 to $69.00 in a report released on Wednesday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

A number of other equities analysts have also commented on the company. UBS Group boosted their price objective on ON from $56.00 to $59.00 and gave the stock a “buy” rating in a research note on Monday, April 28th. Jefferies Financial Group started coverage on shares of ON in a research note on Tuesday, April 1st. They issued a “hold” rating and a $44.00 target price for the company. Robert W. Baird raised their price target on ON from $63.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $65.00 target price on shares of ON in a research report on Tuesday. Finally, Hsbc Global Res raised shares of ON from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 11th. Two equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $61.73.

ON Price Performance

Shares of ONON stock opened at $59.79 on Wednesday. The firm has a market cap of $37.64 billion, a price-to-earnings ratio of 139.04, a P/E/G ratio of 1.02 and a beta of 2.30. The stock’s fifty day simple moving average is $46.16 and its 200 day simple moving average is $51.70. ON has a one year low of $34.59 and a one year high of $64.05.

Institutional Trading of ON

Institutional investors have recently modified their holdings of the company. Capital Advisors Inc. OK increased its stake in shares of ON by 3.2% in the fourth quarter. Capital Advisors Inc. OK now owns 6,386 shares of the company’s stock worth $350,000 after buying an additional 200 shares during the last quarter. Keystone Investors PTE Ltd. raised its stake in shares of ON by 0.8% during the fourth quarter. Keystone Investors PTE Ltd. now owns 29,918 shares of the company’s stock valued at $1,639,000 after purchasing an additional 228 shares in the last quarter. CWM LLC raised its position in shares of ON by 22.2% during the 1st quarter. CWM LLC now owns 1,259 shares of the company’s stock worth $55,000 after buying an additional 229 shares in the last quarter. Concurrent Investment Advisors LLC boosted its holdings in shares of ON by 2.8% in the fourth quarter. Concurrent Investment Advisors LLC now owns 9,413 shares of the company’s stock valued at $516,000 after acquiring an additional 259 shares in the last quarter. Finally, Sage Capital Advisors llc raised its holdings in ON by 0.3% during the first quarter. Sage Capital Advisors llc now owns 100,329 shares of the company’s stock worth $4,406,000 after purchasing an additional 269 shares in the last quarter. Hedge funds and other institutional investors own 36.39% of the company’s stock.

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.