KeyCorp Cuts ON (NYSE:ONON) Price Target to $60.00

ON (NYSE:ONON) had its price target reduced by KeyCorp from $68.00 to $60.00 in a research note published on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

Other research analysts have also issued reports about the stock. TD Cowen lifted their price objective on shares of ON from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Piper Sandler dropped their price objective on shares of ON from $62.00 to $55.00 and set an “overweight” rating on the stock in a research note on Friday, April 11th. Hsbc Global Res upgraded shares of ON from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 11th. UBS Group increased their price target on shares of ON from $56.00 to $59.00 and gave the stock a “buy” rating in a report on Monday. Finally, Citigroup raised ON from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $65.00 to $60.00 in a report on Monday. Two analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $58.77.

ON Stock Performance

NYSE ONON opened at $47.72 on Tuesday. The firm has a market cap of $30.05 billion, a PE ratio of 110.98, a P/E/G ratio of 1.02 and a beta of 2.32. ON has a one year low of $29.84 and a one year high of $64.05. The firm’s fifty day moving average is $45.17 and its two-hundred day moving average is $51.41.

Institutional Trading of ON

Institutional investors and hedge funds have recently modified their holdings of the business. Apollon Wealth Management LLC raised its position 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 purchasing an additional 6,808 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in ON by 34.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,376,850 shares of the company’s stock worth $76,213,000 after buying an additional 349,789 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in shares of ON in the fourth quarter worth $30,000. Principal Financial Group Inc. lifted its position in shares of ON by 96.5% in the third quarter. Principal Financial Group Inc. now owns 101,784 shares of the company’s stock valued at $5,104,000 after acquiring an additional 49,995 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of ON during the fourth quarter valued at $28,575,000. Hedge funds and other institutional investors own 36.39% of the company’s stock.

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.