ON (NYSE:ONON) Now Covered by Needham & Company LLC

Stock analysts at Needham & Company LLC began coverage on shares of ON (NYSE:ONON) in a research note issued to investors on Friday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $64.00 price target on the stock. Needham & Company LLC’s target price would indicate a potential upside of 14.03% from the stock’s previous close.

A number of other analysts also recently weighed in on the stock. Morgan Stanley upped their price target on shares of ON from $44.00 to $46.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Barclays upped their price target on shares of ON from $47.00 to $63.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. TD Cowen upped their price objective on shares of ON from $58.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Williams Trading upgraded shares of ON from a “hold” rating to a “buy” rating and upped their price objective for the stock from $40.00 to $60.00 in a research report on Wednesday, November 13th. Finally, HSBC assumed coverage on shares of ON in a research report on Thursday, September 5th. They set a “hold” rating and a $52.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, ON presently has an average rating of “Moderate Buy” and a consensus price target of $56.05.

ON Trading Up 4.4 %

Shares of ON stock opened at $56.13 on Friday. The company has a 50 day moving average of $50.01 and a 200-day moving average of $43.68. ON has a 1-year low of $25.78 and a 1-year high of $56.66. The company has a market cap of $35.34 billion, a PE ratio of 130.53 and a beta of 2.25.

Institutional Investors Weigh In On ON

Institutional investors have recently modified their holdings of the company. Private Trust Co. NA bought a new stake in shares of ON in the 3rd quarter valued at $26,000. Blue Trust Inc. boosted its stake in shares of ON by 319.8% in the 3rd quarter. Blue Trust Inc. now owns 529 shares of the company’s stock valued at $27,000 after purchasing an additional 403 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in shares of ON by 210.5% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock valued at $28,000 after purchasing an additional 400 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new stake in shares of ON in the 3rd quarter valued at $29,000. Finally, Quarry LP bought a new stake in shares of ON in the 2nd quarter valued at $32,000. 33.11% of the stock is 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.