ON (NYSE:ONON) Price Target Raised to $64.00

ON (NYSE:ONON) had its target price upped by stock analysts at Barclays from $63.00 to $64.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price objective would suggest a potential upside of 18.69% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on ONON. KeyCorp raised their target price on ON from $60.00 to $68.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Stifel Nicolaus increased their price target on ON from $60.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Citigroup started coverage on shares of ON in a report on Wednesday, December 18th. They issued a “neutral” rating and a $65.00 price objective on the stock. Williams Trading increased their target price on shares of ON from $60.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, 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 research report on Wednesday, November 13th. Five analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $59.91.

ON Stock Performance

Shares of ON stock opened at $53.92 on Wednesday. The business’s 50 day moving average price is $55.29 and its 200 day moving average price is $52.50. The company has a market cap of $33.95 billion, a price-to-earnings ratio of 125.34, a PEG ratio of 1.02 and a beta of 2.30. ON has a one year low of $27.37 and a one year high of $64.05.

Hedge Funds Weigh In On ON

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital Advisors Inc. OK raised its holdings in ON by 3.2% in the fourth quarter. Capital Advisors Inc. OK now owns 6,386 shares of the company’s stock valued at $350,000 after acquiring an additional 200 shares in the last quarter. Keystone Investors PTE Ltd. increased its position in shares of ON by 0.8% in the 4th quarter. Keystone Investors PTE Ltd. now owns 29,918 shares of the company’s stock valued at $1,639,000 after purchasing an additional 228 shares during the last quarter. Concurrent Investment Advisors LLC raised its holdings in shares of ON by 2.8% in the 4th quarter. Concurrent Investment Advisors LLC now owns 9,413 shares of the company’s stock valued at $516,000 after purchasing an additional 259 shares in the last quarter. CreativeOne Wealth LLC lifted its position in shares of ON by 2.4% during the 4th quarter. CreativeOne Wealth LLC now owns 13,574 shares of the company’s stock worth $743,000 after purchasing an additional 323 shares during the last quarter. Finally, Atria Investments Inc grew its stake in shares of ON by 6.6% during the fourth quarter. Atria Investments Inc now owns 5,515 shares of the company’s stock worth $302,000 after purchasing an additional 341 shares in the last quarter. Hedge funds and other institutional investors own 36.39% of the company’s stock.

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.