ON (NYSE:ONON) Given New $50.00 Price Target at TD Cowen

ON (NYSE:ONON) had its target price hoisted by TD Cowen from $48.00 to $50.00 in a report issued on Wednesday morning, Benzinga reports. TD Cowen currently has a buy rating on the stock.

Several other research analysts have also weighed in on the company. Evercore ISI upgraded ON to an overweight rating and increased their price objective for the stock from $43.00 to $47.00 in a research report on Monday, August 12th. JPMorgan Chase & Co. increased their price objective on ON from $40.00 to $47.00 and gave the stock an overweight rating in a research report on Monday, June 17th. Stifel Nicolaus increased their price objective on ON from $41.00 to $45.00 and gave the stock a buy rating in a research report on Monday, August 12th. Telsey Advisory Group reiterated an outperform rating and issued a $47.00 price objective on shares of ON in a research report on Tuesday, August 13th. Finally, Morgan Stanley raised their price target on ON from $44.00 to $46.00 and gave the stock an overweight rating in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $45.11.

ON Stock Performance

Shares of ON stock opened at $42.54 on Wednesday. The firm has a market capitalization of $26.79 billion, a price-to-earnings ratio of 96.68, a PEG ratio of 1.16 and a beta of 2.22. ON has a fifty-two week low of $23.41 and a fifty-two week high of $44.30. The stock has a 50 day moving average of $39.62 and a 200 day moving average of $35.83.

Institutional Trading of ON

A number of hedge funds and other institutional investors have recently bought and sold shares of ONON. Rakuten Securities Inc. acquired a new stake in ON in the fourth quarter valued at $47,000. Federated Hermes Inc. raised its stake in ON by 54.2% in the fourth quarter. Federated Hermes Inc. now owns 555,000 shares of the company’s stock valued at $14,968,000 after buying an additional 195,000 shares in the last quarter. J.W. Cole Advisors Inc. acquired a new stake in shares of ON during the fourth quarter worth about $360,000. Kornitzer Capital Management Inc. KS acquired a new stake in shares of ON during the fourth quarter worth about $245,000. Finally, APEIRON CAPITAL Ltd increased its position in shares of ON by 4.5% during the fourth quarter. APEIRON CAPITAL Ltd now owns 1,085,922 shares of the company’s stock worth $29,287,000 after purchasing an additional 47,229 shares in the last quarter. 33.11% of the stock is currently owned by institutional investors and hedge funds.

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.