ON (NYSE:ONON) Upgraded to Strong-Buy at Raymond James

Raymond James upgraded shares of ON (NYSE:ONON) from an outperform rating to a strong-buy rating in a report issued on Thursday, MarketBeat.com reports. The firm currently has $63.00 target price on the stock, up from their previous target price of $58.00.

Several other research firms have also recently commented on ONON. Evercore ISI upgraded shares of ON to an “overweight” rating and raised their target price for the stock from $43.00 to $47.00 in a research note on Monday, August 12th. Telsey Advisory Group reiterated an “outperform” rating and issued a $53.00 price target on shares of ON in a report on Tuesday, November 12th. BTIG Research upgraded shares of ON from a “neutral” rating to a “buy” rating and set a $64.00 price target for the company in a report on Wednesday, November 13th. The Goldman Sachs Group increased their price target on shares of ON from $50.00 to $57.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Robert W. Baird increased their price target on shares of ON from $55.00 to $63.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.05.

ON Stock Performance

ONON stock opened at $57.56 on Thursday. ON has a one year low of $25.78 and a one year high of $57.89. The stock has a market capitalization of $36.24 billion, a PE ratio of 130.53 and a beta of 2.25. The company has a fifty day moving average of $50.01 and a 200-day moving average of $43.68.

Institutional Investors Weigh In On ON

Hedge funds have recently modified their holdings of the stock. Private Trust Co. NA acquired a new stake in shares of ON in the third quarter worth approximately $26,000. Blue Trust Inc. lifted its position in ON by 319.8% during the third quarter. Blue Trust Inc. now owns 529 shares of the company’s stock valued at $27,000 after buying an additional 403 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in ON by 210.5% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock valued at $28,000 after buying an additional 400 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new position in ON during the third quarter valued at approximately $29,000. Finally, Quarry LP acquired a new position in ON during the second quarter valued at approximately $32,000. 33.11% of the stock is owned by institutional investors and hedge funds.

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.