ON (NYSE:ONON) Earns Neutral Rating from Analysts at Citigroup

Research analysts at Citigroup assumed coverage on shares of ON (NYSE:ONON) in a research note issued on Wednesday, MarketBeat.com reports. The firm set a “neutral” rating and a $65.00 price target on the stock. Citigroup’s price target indicates a potential upside of 17.88% from the company’s previous close.

Other equities analysts have also issued reports about the company. KeyCorp raised their price target on ON from $47.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, September 26th. TD Cowen raised their target price on ON from $58.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Needham & Company LLC began coverage on ON in a research report on Friday, November 22nd. They set a “buy” rating and a $64.00 price target on the stock. Truist Financial raised their price objective on shares of ON from $58.00 to $61.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Barclays upped their target price on shares of ON from $47.00 to $63.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Five investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.77.

ON Trading Up 0.7 %

Shares of ONON stock opened at $55.14 on Wednesday. ON has a 12 month low of $25.78 and a 12 month high of $60.12. The stock has a market capitalization of $34.72 billion, a P/E ratio of 128.24 and a beta of 2.30. The firm’s 50 day moving average is $53.05 and its 200 day moving average is $46.60.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Private Trust Co. NA purchased a new stake in ON during the 3rd quarter valued at about $26,000. Blue Trust Inc. lifted its position in ON by 319.8% in the third quarter. Blue Trust Inc. now owns 529 shares of the company’s stock valued at $27,000 after purchasing an additional 403 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in shares of ON during the third quarter valued at approximately $29,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in shares of ON by 210.5% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock worth $28,000 after purchasing an additional 400 shares during the last quarter. Finally, Quarry LP purchased a new position in shares of ON in the second quarter worth $32,000. 36.39% of the stock is owned by institutional investors.

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.