On Holding AG (NYSE:ONON) Receives $56.77 Consensus Target Price from Analysts

On Holding AG (NYSE:ONON) has earned a consensus rating of “Moderate Buy” from the twenty-four brokerages that are currently covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $56.77.

Several research firms have recently commented on ONON. Raymond James raised ON from an “outperform” rating to a “strong-buy” rating and increased their price objective for the company from $58.00 to $63.00 in a report on Thursday, November 21st. BTIG Research upgraded shares of ON from a “neutral” rating to a “buy” rating and set a $64.00 price target for the company in a research note on Wednesday, November 13th. KeyCorp boosted their price objective on shares of ON from $47.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, September 26th. Williams Trading upgraded shares of ON from a “hold” rating to a “buy” rating and raised their target price for the company from $40.00 to $60.00 in a research note on Wednesday, November 13th. Finally, Barclays lifted their price target on ON from $47.00 to $63.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th.

ON Stock Performance

Shares of NYSE ONON opened at $56.62 on Friday. The stock has a 50 day moving average price of $54.62 and a 200 day moving average price of $47.64. The stock has a market capitalization of $35.65 billion, a PE ratio of 131.68 and a beta of 2.30. ON has a 52 week low of $25.78 and a 52 week high of $60.12.

Institutional Investors Weigh In On ON

Several institutional investors have recently made changes to their positions in the stock. Central Pacific Bank Trust Division raised 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 valued at $566,000 after acquiring an additional 1,161 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of ON by 96.5% during 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 in the last quarter. Lord Abbett & CO. LLC increased its position in shares of ON by 338.3% in the third quarter. Lord Abbett & CO. LLC now owns 594,901 shares of the company’s stock worth $29,834,000 after purchasing an additional 459,157 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in ON in the third quarter valued at about $259,000. Finally, Sanctuary Advisors LLC lifted its position in ON by 69.8% during the third quarter. Sanctuary Advisors LLC now owns 48,487 shares of the company’s stock worth $2,432,000 after purchasing an additional 19,932 shares during the period. 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 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.