ON (NYSE:ONON) Stock Rating Upgraded by Raymond James

Raymond James upgraded shares of ON (NYSE:ONON) from an outperform rating to a strong-buy rating in a research report released on Thursday, MarketBeat reports. Raymond James currently has $63.00 price target on the stock, up from their prior price target of $58.00.

Other analysts also recently issued research reports about the company. Evercore ISI raised ON to an “overweight” rating and lifted their target price for the company from $43.00 to $47.00 in a research report on Monday, August 12th. KeyCorp increased their price objective on ON from $47.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, September 26th. BTIG Research raised shares of ON from a “neutral” rating to a “buy” rating and set a $64.00 target price for the company in a research note on Wednesday, November 13th. TD Cowen upped their price target on shares of ON from $58.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Bank of America raised shares of ON from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $21.00 to $55.00 in a research report on Monday, September 23rd. Four investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $56.05.

ON Trading Up 3.5 %

ON stock opened at $58.13 on Thursday. ON has a 1-year low of $25.78 and a 1-year high of $58.51. The company has a fifty day simple moving average of $50.34 and a 200 day simple moving average of $43.94. The company has a market cap of $36.60 billion, a P/E ratio of 135.19 and a beta of 2.25.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Private Trust Co. NA acquired a new stake in ON during the third quarter worth approximately $26,000. Blue Trust Inc. grew its holdings in shares of ON by 319.8% during the 3rd quarter. Blue Trust Inc. now owns 529 shares of the company’s stock worth $27,000 after purchasing an additional 403 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in shares of ON by 210.5% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock worth $28,000 after purchasing an additional 400 shares during the period. MidAtlantic Capital Management Inc. acquired a new position in ON in the third quarter valued at about $29,000. Finally, Quarry LP bought a new stake in ON during the second quarter worth about $32,000. 33.11% of the stock is owned by institutional investors.

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.