Stifel Nicolaus Forecasts Strong Price Appreciation for ON (NYSE:ONON) Stock

ON (NYSE:ONON) had its target price raised by analysts at Stifel Nicolaus from $60.00 to $66.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price target would indicate a potential upside of 14.58% from the stock’s current price.

A number of other brokerages have also recently issued reports on ONON. Telsey Advisory Group reiterated an “outperform” rating and set a $53.00 price objective on shares of ON in a research note on Tuesday, November 12th. Needham & Company LLC initiated coverage on ON in a research note on Friday, November 22nd. They issued a “buy” rating and a $64.00 price objective on the stock. UBS Group lifted their price target on ON from $61.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. TD Cowen lifted their price objective on ON from $58.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, KeyCorp boosted 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. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, ON currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.38.

ON Stock Performance

Shares of NYSE:ONON opened at $57.60 on Wednesday. The business has a fifty day moving average of $52.51 and a 200-day moving average of $46.10. The firm has a market cap of $36.27 billion, a PE ratio of 133.95 and a beta of 2.30. ON has a twelve month low of $25.78 and a twelve month high of $60.12.

Institutional Trading of ON

A number of institutional investors and hedge funds have recently modified their holdings of ONON. Private Trust Co. NA purchased a new position in shares of ON in the 3rd quarter worth $26,000. Blue Trust Inc. lifted its position in shares of ON by 319.8% in the third quarter. Blue Trust Inc. now owns 529 shares of the company’s stock valued at $27,000 after acquiring an additional 403 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new stake in shares of ON in the third quarter worth about $29,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings 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 last quarter. Finally, Quarry LP bought a new stake in shares of ON in the second quarter worth about $32,000. Institutional investors own 33.11% of the company’s stock.

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.