ON (NYSE:ONON) Price Target Raised to $70.00

ON (NYSE:ONON) had its price target boosted by Evercore ISI from $60.00 to $70.00 in a research report report published on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

Other equities analysts have also recently issued reports about the company. UBS Group boosted their target price on ON from $56.00 to $59.00 and gave the company a “buy” rating in a research note on Monday, April 28th. Citigroup upgraded ON from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $65.00 to $60.00 in a research note on Monday, April 28th. KeyCorp boosted their price objective on shares of ON from $60.00 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday. Piper Sandler reiterated an “overweight” rating on shares of ON in a research note on Tuesday. Finally, Barclays set a $68.00 price objective on ON in a report on Wednesday. Two analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, ON currently has a consensus rating of “Buy” and an average target price of $61.73.

ON Stock Performance

ONON stock opened at $59.79 on Wednesday. The company has a market capitalization of $37.64 billion, a PE ratio of 139.04, a price-to-earnings-growth ratio of 1.02 and a beta of 2.30. The company’s 50 day moving average price is $46.16 and its two-hundred day moving average price is $51.70. ON has a one year low of $34.59 and a one year high of $64.05.

Hedge Funds Weigh In On ON

Institutional investors and hedge funds have recently modified their holdings of the stock. Montag A & Associates Inc. purchased a new stake in ON in the 1st quarter worth approximately $26,000. TCTC Holdings LLC grew its position in shares of ON by 118.4% during the 1st quarter. TCTC Holdings LLC now owns 581 shares of the company’s stock valued at $26,000 after acquiring an additional 315 shares during the period. Strategic Financial Concepts LLC purchased a new position in shares of ON in the 4th quarter valued at about $30,000. Park Square Financial Group LLC acquired a new position in ON in the 4th quarter worth about $32,000. Finally, MassMutual Private Wealth & Trust FSB acquired a new stake in ON in the first quarter valued at approximately $32,000. Institutional investors and hedge funds own 36.39% of the company’s stock.

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, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.