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 research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective suggests a potential upside of 14.56% from the company’s previous close.

Several other brokerages have also recently commented on ONON. The Goldman Sachs Group boosted their price target on shares of ON from $50.00 to $57.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Hsbc Global Res upgraded ON to a “hold” rating in a report on Thursday, September 5th. Williams Trading upgraded ON from a “hold” rating to a “buy” rating and upped their target price for the company from $40.00 to $60.00 in a report on Wednesday, November 13th. Truist Financial upped their target price on ON from $58.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Robert W. Baird upped their target price on ON from $55.00 to $63.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $56.38.

ON Stock Up 4.4 %

ON stock traded up $2.43 during midday trading on Wednesday, hitting $57.61. The company’s stock had a trading volume of 855,648 shares, compared to its average volume of 4,842,267. The stock’s 50-day moving average price is $52.18 and its 200-day moving average price is $45.94. ON has a 12 month low of $25.78 and a 12 month high of $60.12. The company has a market capitalization of $36.27 billion, a PE ratio of 133.95 and a beta of 2.30.

Hedge Funds Weigh In On ON

Hedge funds have recently added to or reduced their stakes in the company. Private Trust Co. NA bought a new position in ON in the third quarter valued at about $26,000. Blue Trust Inc. boosted its holdings in 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 during the last quarter. MidAtlantic Capital Management Inc. bought a new position in ON in the third quarter valued at about $29,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its holdings in ON by 210.5% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock valued at $28,000 after acquiring an additional 400 shares during the last quarter. Finally, Quarry LP bought a new position in ON in the second quarter valued at 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.