Needham & Company LLC Begins Coverage on ON (NYSE:ONON)

Needham & Company LLC began coverage on shares of ON (NYSE:ONON) in a research note published on Friday, Marketbeat Ratings reports. The firm issued a buy rating and a $64.00 price target on the stock.

A number of other equities research analysts also recently weighed in on ONON. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $53.00 target price on shares of ON in a research note on Tuesday, November 12th. HSBC assumed coverage on shares of ON in a report on Thursday, September 5th. They set a “hold” rating and a $52.00 price objective for the company. UBS Group increased their target price on ON from $61.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. BTIG Research raised 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. Finally, Robert W. Baird increased their price objective on ON from $55.00 to $63.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Four equities 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 company’s stock. According to data from MarketBeat.com, ON currently has an average rating of “Moderate Buy” and a consensus price target of $56.05.

ON Stock Up 3.5 %

Shares of NYSE ONON opened at $58.13 on Friday. The stock’s 50-day simple moving average is $50.34 and its two-hundred day simple moving average is $44.00. ON has a twelve month low of $25.78 and a twelve month high of $58.51. The firm has a market capitalization of $36.60 billion, a P/E ratio of 135.19 and a beta of 2.25.

Institutional Investors Weigh In On ON

A number of large investors have recently made changes to their positions in ONON. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of ON by 100.7% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,281,339 shares of the company’s stock valued at $49,716,000 after acquiring an additional 642,894 shares in the last quarter. Forte Capital LLC ADV bought a new position in ON in the 3rd quarter worth $742,000. Coronation Fund Managers Ltd. lifted its position in shares of ON by 248.6% in the 2nd 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. B. Riley Wealth Advisors Inc. bought a new stake in shares of ON during the 1st quarter valued at about $486,000. Finally, Raymond James & Associates increased its position in shares of ON by 23.4% during the third quarter. Raymond James & Associates now owns 256,725 shares of the company’s stock valued at $12,875,000 after buying an additional 48,600 shares during the period. 33.11% 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.