ON (NYSE:ONON) Now Covered by Bank of America

Bank of America began coverage on shares of ON (NYSE:ONON) in a report released on Tuesday. The brokerage set a “buy” rating and a $73.00 price target on the stock. Bank of America‘s target price would indicate a potential upside of 33.90% from the company’s previous close.

A number of other research firms have also weighed in on ONON. Citigroup started coverage on shares of ON in a research report on Wednesday, December 18th. They issued a “neutral” rating and a $65.00 price objective on the stock. Truist Financial increased their price target on shares of ON from $58.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Williams Trading raised ON from a “hold” rating to a “buy” rating and lifted their price objective for the company from $40.00 to $60.00 in a report on Wednesday, November 13th. Piper Sandler raised their price target on ON from $52.00 to $56.00 and gave the company an “overweight” rating in a report on Thursday, October 3rd. Finally, Robert W. Baird upped their price objective on ON from $55.00 to $63.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, ON currently has an average rating of “Moderate Buy” and a consensus price target of $57.59.

ON Stock Performance

Shares of NYSE:ONON opened at $54.52 on Tuesday. ON has a one year low of $26.03 and a one year high of $60.12. The company has a 50-day simple moving average of $54.70 and a 200-day simple moving average of $47.81. The stock has a market capitalization of $34.33 billion, a price-to-earnings ratio of 126.79 and a beta of 2.30.

Institutional Trading of ON

A number of hedge funds have recently bought and sold shares of ONON. Principal Financial Group Inc. purchased a new stake in shares of ON in the second quarter valued at $2,009,000. Van ECK Associates Corp acquired a new position in shares of ON during the 2nd quarter valued at about $257,000. TD Asset Management Inc purchased a new position in shares of ON during the 2nd quarter worth about $1,521,000. National Bank of Canada FI boosted its position in shares of ON by 24.0% in the second quarter. National Bank of Canada FI now owns 2,585 shares of the company’s stock worth $98,000 after acquiring an additional 500 shares during the last quarter. Finally, Private Advisor Group LLC grew its holdings in ON by 48.6% in the second quarter. Private Advisor Group LLC now owns 21,875 shares of the company’s stock valued at $849,000 after purchasing an additional 7,154 shares during the period. Institutional investors and hedge funds own 36.39% 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.