ON (NYSE:ONON) Coverage Initiated at Citigroup

Stock analysts at Citigroup started coverage on shares of ON (NYSE:ONON) in a research report issued to clients and investors on Wednesday, MarketBeat reports. The firm set a “neutral” rating and a $65.00 price target on the stock. Citigroup’s price objective indicates a potential upside of 17.88% from the stock’s current price.

Other research analysts have also issued research reports about the company. Piper Sandler increased their price target on ON from $52.00 to $56.00 and gave the stock an “overweight” rating in a report on Thursday, October 3rd. Stifel Nicolaus increased their target price on ON from $60.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Barclays boosted their price target on shares of ON from $47.00 to $63.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Truist Financial raised their price objective on shares of ON from $58.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, 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 report on Wednesday, November 13th. Five research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $56.77.

ON Trading Up 0.7 %

Shares of NYSE ONON opened at $55.14 on Wednesday. The firm’s 50-day moving average price is $53.05 and its 200-day moving average price is $46.60. The firm has a market capitalization of $34.72 billion, a P/E ratio of 128.24 and a beta of 2.30. ON has a 1-year low of $25.78 and a 1-year high of $60.12.

Hedge Funds Weigh In On ON

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Ameritas Advisory Services LLC raised its position in ON by 1.3% in the second quarter. Ameritas Advisory Services LLC now owns 23,806 shares of the company’s stock worth $924,000 after acquiring an additional 300 shares during the period. Capital Advisors Inc. OK raised its holdings in shares of ON by 5.1% in the 3rd quarter. Capital Advisors Inc. OK now owns 6,186 shares of the company’s stock worth $310,000 after purchasing an additional 301 shares during the period. Crossmark Global Holdings Inc. lifted its stake in ON by 3.2% in the second quarter. Crossmark Global Holdings Inc. now owns 10,423 shares of the company’s stock valued at $404,000 after purchasing an additional 325 shares during the last quarter. Asset Dedication LLC grew its holdings in ON by 25.8% during the second quarter. Asset Dedication LLC now owns 1,592 shares of the company’s stock valued at $62,000 after purchasing an additional 327 shares during the period. Finally, Sage Capital Advisors llc increased its position in ON by 0.3% in the third quarter. Sage Capital Advisors llc now owns 99,859 shares of the company’s stock worth $5,008,000 after buying an additional 328 shares during the last quarter. 36.39% of the stock is 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.