ON (NYSE:ONON) Given New $63.00 Price Target at Barclays

ON (NYSE:ONON) had its price target upped by Barclays from $47.00 to $63.00 in a report published on Wednesday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other equities analysts have also recently issued reports on the stock. HSBC began coverage on shares of ON in a research note on Thursday, September 5th. They issued a “hold” rating and a $52.00 price target on the stock. BTIG Research upgraded shares of ON from a “neutral” rating to a “buy” rating and set a $64.00 price target on the stock in a report on Wednesday. Piper Sandler boosted their price objective on shares of ON from $52.00 to $56.00 and gave the stock an “overweight” rating in a report on Thursday, October 3rd. Telsey Advisory Group reiterated an “outperform” rating and set a $53.00 target price on shares of ON in a research note on Tuesday, November 12th. Finally, Morgan Stanley lifted their target price on ON from $44.00 to $46.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Four equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $54.33.

ON Trading Down 2.7 %

Shares of NYSE:ONON opened at $51.92 on Wednesday. ON has a 12-month low of $25.78 and a 12-month high of $56.44. The stock has a market capitalization of $32.69 billion, a price-to-earnings ratio of 120.75 and a beta of 2.25. The stock has a fifty day simple moving average of $49.56 and a two-hundred day simple moving average of $43.25.

Hedge Funds Weigh In On ON

Institutional investors and hedge funds have recently bought and sold shares of the stock. Blair William & Co. IL bought a new position in shares of ON in the first quarter worth about $502,000. Acadian Asset Management LLC purchased a new stake in ON in the 1st quarter worth approximately $8,094,000. Kayne Anderson Rudnick Investment Management LLC raised its stake in ON by 100.7% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,281,339 shares of the company’s stock worth $49,716,000 after acquiring an additional 642,894 shares during the period. Forte Capital LLC ADV purchased a new position in ON during the third quarter valued at approximately $742,000. Finally, Coronation Fund Managers Ltd. boosted its position in shares of ON by 248.6% in the second quarter. Coronation Fund Managers Ltd. now owns 154,903 shares of the company’s stock worth $6,010,000 after purchasing an additional 110,467 shares during the period. 33.11% of the stock is currently owned by hedge funds and other 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.