ON (NYSE:ONON) Stock Price Expected to Rise, Williams Trading Analyst Says

ON (NYSE:ONON) had its target price increased by equities researchers at Williams Trading from $60.00 to $62.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Williams Trading’s price target points to a potential upside of 17.83% from the company’s previous close.

A number of other analysts have also recently commented on ONON. Raymond James raised shares of ON from an “outperform” rating to a “strong-buy” rating and upped their price target for the company from $58.00 to $63.00 in a research report on Thursday, November 21st. BTIG Research upgraded ON from a “neutral” rating to a “buy” rating and set a $64.00 price target on the stock in a report on Wednesday, November 13th. UBS Group reissued a “buy” rating and set a $63.00 price objective on shares of ON in a research report on Friday, December 27th. Citigroup initiated coverage on ON in a research note on Wednesday, December 18th. They issued a “neutral” rating and a $65.00 price objective for the company. Finally, KeyCorp upped their target price on ON from $60.00 to $68.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. 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 data from MarketBeat.com, ON has an average rating of “Moderate Buy” and a consensus target price of $60.36.

ON Trading Up 3.9 %

Shares of ONON stock opened at $52.62 on Tuesday. The stock has a 50-day moving average of $55.29 and a 200-day moving average of $52.50. The stock has a market cap of $33.13 billion, a price-to-earnings ratio of 122.37, a PEG ratio of 1.02 and a beta of 2.30. ON has a 1-year low of $27.37 and a 1-year high of $64.05.

Institutional Investors Weigh In On ON

Several large investors have recently made changes to their positions in ONON. Apollon Wealth Management LLC grew its stake in shares of ON by 74.0% during the 4th quarter. Apollon Wealth Management LLC now owns 16,005 shares of the company’s stock worth $877,000 after acquiring an additional 6,808 shares during the period. RB Capital Management LLC raised its position in shares of ON by 214.8% in the third quarter. RB Capital Management LLC now owns 22,426 shares of the company’s stock valued at $1,125,000 after purchasing an additional 15,303 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of ON by 34.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,376,850 shares of the company’s stock valued at $76,213,000 after buying an additional 349,789 shares in the last quarter. Strategic Financial Concepts LLC bought a new stake in ON during the 4th quarter valued at $30,000. Finally, Y Intercept Hong Kong Ltd lifted its position in shares of ON by 584.8% during the third quarter. Y Intercept Hong Kong Ltd now owns 83,651 shares of the company’s stock worth $4,195,000 after acquiring an additional 71,436 shares in the last quarter. 36.39% of the stock is owned by hedge funds and other institutional investors.

ON Company Profile

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.