BTIG Research Upgrades ON (NYSE:ONON) to Buy

BTIG Research upgraded shares of ON (NYSE:ONON) from a neutral rating to a buy rating in a report published on Wednesday, Marketbeat.com reports. The firm currently has $64.00 price target on the stock.

ONON has been the topic of several other research reports. Barclays upped their target price on shares of ON from $40.00 to $47.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Piper Sandler upped their price objective on ON from $52.00 to $56.00 and gave the company an “overweight” rating in a research report on Thursday, October 3rd. Telsey Advisory Group restated an “outperform” rating and issued a $53.00 price target on shares of ON in a research note on Tuesday, November 12th. Raymond James assumed coverage on ON in a research report on Wednesday, July 31st. They set an “outperform” rating and a $46.00 price objective on the stock. Finally, Evercore ISI raised ON to an “overweight” rating and boosted their target price for the stock from $43.00 to $47.00 in a research report on Monday, August 12th. Four equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat, ON has a consensus rating of “Moderate Buy” and a consensus target price of $54.33.

ON Trading Down 2.7 %

ON stock opened at $51.92 on Wednesday. ON has a 12 month low of $25.78 and a 12 month high of $56.44. The business’s fifty day simple moving average is $49.56 and its two-hundred day simple moving average is $43.25. The company has a market capitalization of $32.69 billion, a price-to-earnings ratio of 120.75 and a beta of 2.25.

Hedge Funds Weigh In On ON

Large investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. purchased a new position in ON in the 1st quarter worth approximately $958,000. Oppenheimer & Co. Inc. purchased a new position in shares of ON in the first quarter worth $208,000. Sei Investments Co. boosted its position in shares of ON by 16.1% during the first quarter. Sei Investments Co. now owns 525,478 shares of the company’s stock worth $18,591,000 after acquiring an additional 72,859 shares during the last quarter. SageView Advisory Group LLC purchased a new position in ON during the first quarter valued at $656,000. Finally, Blair William & Co. IL bought a new stake in ON in the 1st quarter valued at $502,000. 33.11% 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 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.