ON (NYSE:ONON) Price Target Raised to $66.00 at TD Cowen

ON (NYSE:ONON) had its price target raised by TD Cowen from $65.00 to $66.00 in a research note published on Wednesday morning,Benzinga reports. TD Cowen currently has a buy rating on the stock.

Several other research analysts also recently commented on ONON. BTIG Research raised ON from a “neutral” rating to a “buy” rating and set a $64.00 target price on the stock in a report on Wednesday, November 13th. Needham & Company LLC assumed coverage on ON in a report on Friday, November 22nd. They set a “buy” rating and a $64.00 target price on the stock. Raymond James raised ON from an “outperform” rating to a “strong-buy” rating and lifted their price target for the company from $58.00 to $63.00 in a report on Thursday, November 21st. Citigroup started coverage on shares of ON in a report on Wednesday, December 18th. They set a “neutral” rating and a $65.00 price objective on the stock. Finally, Williams Trading raised shares of ON from a “hold” rating to a “buy” rating and boosted their target price for the stock from $40.00 to $60.00 in a research note on Wednesday, November 13th. Four analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $57.86.

ON Stock Performance

ONON opened at $55.54 on Wednesday. The firm has a market cap of $34.97 billion, a price-to-earnings ratio of 129.17 and a beta of 2.30. ON has a twelve month low of $26.03 and a twelve month high of $60.12. The firm’s 50-day simple moving average is $54.80 and its 200-day simple moving average is $47.92.

Institutional Investors Weigh In On ON

A number of hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. acquired a new stake in ON during the 2nd quarter worth approximately $2,009,000. TD Asset Management Inc acquired a new stake in shares of ON during the second quarter worth $1,521,000. National Bank of Canada FI lifted its position in ON by 24.0% in the 2nd quarter. National Bank of Canada FI now owns 2,585 shares of the company’s stock valued at $98,000 after acquiring an additional 500 shares in the last quarter. Private Advisor Group LLC boosted its stake in ON by 48.6% in the 2nd quarter. Private Advisor Group LLC now owns 21,875 shares of the company’s stock worth $849,000 after purchasing an additional 7,154 shares during the period. Finally, Y.D. More Investments Ltd bought a new position in ON during the 2nd quarter worth about $522,000. Institutional investors and hedge funds own 36.39% of the company’s stock.

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.