ON (NYSE:ONON) Given New $68.00 Price Target at KeyCorp

ON (NYSE:ONON) had its price target raised by KeyCorp from $60.00 to $68.00 in a report issued on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

ONON has been the subject of several other research reports. Barclays upped their price target on ON from $47.00 to $63.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Citigroup assumed coverage on ON in a research report on Wednesday, December 18th. They issued a “neutral” rating and a $65.00 target price for the company. TD Cowen boosted their price target on shares of ON from $65.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $64.00 price objective on shares of ON in a report on Wednesday, January 15th. Finally, Truist Financial upped their target price on shares of ON from $58.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Four analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $59.73.

ON Stock Performance

NYSE:ONON opened at $60.50 on Thursday. The firm’s 50-day moving average is $56.37 and its 200-day moving average is $49.28. ON has a 52-week low of $26.03 and a 52-week high of $60.69. The company has a market cap of $38.09 billion, a price-to-earnings ratio of 140.69, a PEG ratio of 1.19 and a beta of 2.30.

Institutional Trading of ON

Several hedge funds have recently modified their holdings of the stock. Cerity Partners LLC grew its position in shares of ON by 189.9% during the 3rd quarter. Cerity Partners LLC now owns 719,493 shares of the company’s stock worth $36,083,000 after buying an additional 471,323 shares during the period. AXA S.A. lifted its holdings in ON by 0.4% during the second quarter. AXA S.A. now owns 605,081 shares of the company’s stock worth $23,477,000 after acquiring an additional 2,259 shares in the last quarter. Lord Abbett & CO. LLC grew its stake in ON by 338.3% in the third quarter. Lord Abbett & CO. LLC now owns 594,901 shares of the company’s stock valued at $29,834,000 after acquiring an additional 459,157 shares during the period. Sei Investments Co. raised its position in shares of ON by 3.6% during the second quarter. Sei Investments Co. now owns 544,144 shares of the company’s stock worth $21,113,000 after purchasing an additional 18,666 shares during the period. Finally, Wasatch Advisors LP lifted its holdings in shares of ON by 4.3% during the 3rd quarter. Wasatch Advisors LP now owns 419,536 shares of the company’s stock valued at $21,040,000 after purchasing an additional 17,362 shares in the last quarter. 36.39% of the stock is owned by 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, 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.