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

ON (NYSE:ONON) had its target price upped by UBS Group from $61.00 to $63.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities research analysts have also issued reports on ONON. Hsbc Global Res upgraded ON to a “hold” rating in a report on Thursday, September 5th. TD Cowen lifted their target price on shares of ON from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Barclays increased their price target on shares of ON from $47.00 to $63.00 and gave the stock an “overweight” rating in a research note on Wednesday. KeyCorp lifted their price objective on shares of ON from $47.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, September 26th. Finally, Robert W. Baird upped 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. Four investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $54.33.

ON Trading Down 2.7 %

NYSE ONON opened at $51.92 on Wednesday. ON has a 1-year low of $25.78 and a 1-year high of $56.44. The firm’s fifty day simple moving average is $49.56 and its 200-day simple moving average is $43.25. The company has a market capitalization of $32.69 billion, a PE ratio of 120.75 and a beta of 2.25.

Institutional Investors Weigh In On ON

Institutional investors and hedge funds have recently bought and sold shares of the business. Private Trust Co. NA acquired a new stake in shares of ON during the 3rd quarter valued at about $26,000. Blue Trust Inc. lifted its stake in ON by 319.8% during the third quarter. Blue Trust Inc. now owns 529 shares of the company’s stock worth $27,000 after purchasing an additional 403 shares during the period. MidAtlantic Capital Management Inc. acquired a new stake in ON during the third quarter valued at approximately $29,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in shares of ON by 210.5% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock worth $28,000 after buying an additional 400 shares in the last quarter. Finally, Quarry LP bought a new position in shares of ON during the 2nd quarter worth approximately $32,000. Institutional investors own 33.11% of the company’s stock.

About ON

On Holding AG engages in the development and distribution of sports products worldwide. The company offers athletic footwear, apparel, and accessories for high-performance running, outdoor, training, all-day activities, and tennis. It offers its products through independent retailers and distributors, online, and stores.