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

ON (NYSE:ONON) had its target price hoisted by analysts at Barclays from $63.00 to $64.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s target price would indicate a potential upside of 28.96% from the stock’s previous close.

ONON has been the topic of a number of other research reports. Raymond James raised shares of ON from an “outperform” rating to a “strong-buy” rating and increased their price objective for the stock from $58.00 to $63.00 in a report on Thursday, November 21st. The Goldman Sachs Group cut shares of ON from a “buy” rating to a “neutral” rating and set a $57.00 price objective on the stock. in a report on Wednesday, February 12th. Stifel Nicolaus increased their price objective on shares of ON from $60.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $67.00 price objective on shares of ON in a report on Tuesday. Finally, Robert W. Baird increased their price objective on shares of ON from $55.00 to $63.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Five analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, ON presently has an average rating of “Moderate Buy” and a consensus target price of $60.36.

ON Stock Performance

ON stock opened at $49.63 on Wednesday. The firm’s 50-day moving average is $55.21 and its 200-day moving average is $52.50. ON has a 1 year low of $27.37 and a 1 year high of $64.05. The company has a market cap of $31.25 billion, a P/E ratio of 115.42, a PEG ratio of 1.02 and a beta of 2.35.

Institutional Trading of ON

A number of institutional investors have recently added to or reduced their stakes in the business. Private Trust Co. NA bought a new position in shares of ON in the third quarter valued at approximately $26,000. MidAtlantic Capital Management Inc. bought a new position in shares of ON in the third quarter valued at approximately $29,000. Strategic Financial Concepts LLC bought a new position in shares of ON in the fourth quarter valued at approximately $30,000. Park Square Financial Group LLC bought a new position in shares of ON in the fourth quarter valued at approximately $32,000. Finally, Legacy Bridge LLC bought a new position in shares of ON in the fourth quarter valued at approximately $43,000. 36.39% of the stock is currently owned by institutional investors and hedge funds.

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.