TD Cowen Boosts ON (NYSE:ONON) Price Target to $66.00

ON (NYSE:ONON) had its price objective raised by equities research analysts at TD Cowen from $65.00 to $66.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s target price indicates a potential upside of 18.71% from the company’s current price.

A number of other equities analysts also recently commented on ONON. Robert W. Baird upped their target price on ON from $55.00 to $63.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. BTIG Research upgraded shares of ON from a “neutral” rating to a “buy” rating and set a $64.00 price objective for the company in a report on Wednesday, November 13th. Citigroup initiated coverage on shares of ON in a research note on Wednesday, December 18th. They set a “neutral” rating and a $65.00 target price on the stock. UBS Group reissued a “buy” rating and issued a $63.00 price target on shares of ON in a research note on Friday, December 27th. Finally, Needham & Company LLC began coverage on ON in a research report on Friday, November 22nd. They set a “buy” rating and a $64.00 price objective on the stock. Four analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, ON presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.86.

ON Trading Up 0.6 %

Shares of NYSE:ONON traded up $0.32 on Wednesday, reaching $55.60. 1,521,093 shares of the company traded hands, compared to its average volume of 2,468,498. The business’s 50-day simple moving average is $54.80 and its 200 day simple moving average is $47.92. The stock has a market capitalization of $35.01 billion, a P/E ratio of 129.31 and a beta of 2.30. ON has a 52 week low of $26.03 and a 52 week high of $60.12.

Hedge Funds Weigh In On ON

Several large investors have recently added to or reduced their stakes in ONON. Diversified Trust Co bought a new position in shares of ON in the fourth quarter worth about $995,000. Central Pacific Bank Trust Division lifted its holdings in ON by 12.7% in the 4th quarter. Central Pacific Bank Trust Division now owns 10,333 shares of the company’s stock worth $566,000 after purchasing an additional 1,161 shares in the last quarter. Principal Financial Group Inc. boosted its stake in ON by 96.5% in the 3rd quarter. Principal Financial Group Inc. now owns 101,784 shares of the company’s stock worth $5,104,000 after purchasing an additional 49,995 shares during the period. Lord Abbett & CO. LLC grew its holdings in ON by 338.3% during the 3rd quarter. Lord Abbett & CO. LLC now owns 594,901 shares of the company’s stock valued at $29,834,000 after buying an additional 459,157 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of ON during the third quarter valued at approximately $259,000. 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 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.