ON (NYSE:ONON) Stock Rating Upgraded by Williams Trading

Williams Trading upgraded shares of ON (NYSE:ONON) from a hold rating to a buy rating in a research note published on Wednesday,Benzinga reports. The firm currently has $60.00 price objective on the stock, up from their prior price objective of $40.00.

Several other brokerages have also recently commented on ONON. Barclays upped their target price on ON from $40.00 to $47.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. The Goldman Sachs Group raised their target price on ON from $50.00 to $57.00 and gave the stock a “buy” rating in a research note on Wednesday. KeyCorp increased their price target on ON from $47.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, September 26th. HSBC assumed coverage on shares of ON in a research report on Thursday, September 5th. They set a “hold” rating and a $52.00 price objective for the company. Finally, Stifel Nicolaus upped their price objective on shares of ON from $45.00 to $59.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Four investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.33.

ON Stock Performance

NYSE ONON opened at $51.92 on Wednesday. ON has a fifty-two week low of $25.78 and a fifty-two week high of $56.44. The stock has a market cap of $32.69 billion, a PE ratio of 120.75 and a beta of 2.25. The firm’s fifty day moving average price is $49.56 and its two-hundred day moving average price is $43.25.

Institutional Investors Weigh In On ON

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