Robert W. Baird Issues Positive Forecast for ON (NYSE:ONON) Stock Price

ON (NYSE:ONON) had its price target hoisted by Robert W. Baird from $63.00 to $70.00 in a research report report published on Wednesday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

A number of other brokerages have also commented on ONON. Piper Sandler cut their price target on ON from $62.00 to $55.00 and set an “overweight” rating for the company in a report on Friday, April 11th. KeyCorp decreased their price objective on ON from $68.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday, April 29th. Morgan Stanley dropped their price objective on shares of ON from $66.00 to $62.00 and set an “overweight” rating for the company in a research note on Tuesday, May 6th. Needham & Company LLC increased their price target on shares of ON from $55.00 to $62.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, The Goldman Sachs Group lowered ON from a “buy” rating to a “neutral” rating and set a $57.00 price objective for the company. in a research note on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $61.73.

ON Stock Down 0.8%

Shares of ON stock opened at $59.79 on Wednesday. ON has a 12-month low of $34.59 and a 12-month high of $64.05. The stock has a 50 day moving average price of $46.16 and a two-hundred day moving average price of $51.70. The stock has a market capitalization of $37.64 billion, a P/E ratio of 139.04, a PEG ratio of 1.02 and a beta of 2.30.

Hedge Funds Weigh In On ON

A number of hedge funds have recently made changes to their positions in ONON. Park Square Financial Group LLC acquired a new position in ON in the fourth quarter valued at approximately $32,000. TCTC Holdings LLC raised its stake in ON by 118.4% during the 1st quarter. TCTC Holdings LLC now owns 581 shares of the company’s stock worth $26,000 after buying an additional 315 shares during the period. Montag A & Associates Inc. bought a new stake in shares of ON during the first quarter valued at approximately $26,000. MassMutual Private Wealth & Trust FSB acquired a new position in shares of ON during the first quarter worth approximately $32,000. Finally, Legacy Bridge LLC bought a new position in shares of ON in the 4th quarter worth $43,000. 36.39% of the stock is currently owned by institutional investors.

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, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.