UBS Group Issues Positive Forecast for ON (NYSE:ONON) Stock Price

ON (NYSE:ONON) had its target price increased by UBS Group from $65.00 to $73.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

ONON has been the subject of several other research reports. Barclays upped their target price on shares of ON from $63.00 to $64.00 and gave the stock an “overweight” rating in a report on Wednesday. Bank of America began coverage on shares of ON in a research report on Tuesday, January 7th. They issued a “buy” rating and a $73.00 price target on the stock. Robert W. Baird upped their price objective on ON from $55.00 to $63.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Citigroup initiated coverage on shares of ON in a report on Wednesday, December 18th. They issued a “neutral” rating and a $65.00 target price for the company. Finally, KeyCorp reissued an “overweight” rating and set a $68.00 price target on shares of ON in a research note on Wednesday. Five 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $60.36.

ON Stock Performance

NYSE:ONON opened at $52.62 on Wednesday. The stock has a 50-day simple moving average of $55.29 and a two-hundred day simple moving average of $52.50. The firm has a market capitalization of $33.13 billion, a PE ratio of 122.37, a P/E/G ratio of 1.02 and a beta of 2.30. ON has a 52-week low of $27.37 and a 52-week high of $64.05.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ONON. Capital Advisors Inc. OK grew its stake in shares of ON by 3.2% during the fourth quarter. Capital Advisors Inc. OK now owns 6,386 shares of the company’s stock worth $350,000 after acquiring an additional 200 shares during the last quarter. Keystone Investors PTE Ltd. lifted its holdings in shares of ON by 0.8% in the 4th quarter. Keystone Investors PTE Ltd. now owns 29,918 shares of the company’s stock valued at $1,639,000 after buying an additional 228 shares during the period. Concurrent Investment Advisors LLC lifted its holdings in ON by 2.8% in the fourth quarter. Concurrent Investment Advisors LLC now owns 9,413 shares of the company’s stock valued at $516,000 after acquiring an additional 259 shares during the period. CreativeOne Wealth LLC boosted its holdings in ON by 2.4% during the fourth quarter. CreativeOne Wealth LLC now owns 13,574 shares of the company’s stock worth $743,000 after buying an additional 323 shares in the last quarter. Finally, Atria Investments Inc increased its stake in shares of ON by 6.6% in the 4th quarter. Atria Investments Inc now owns 5,515 shares of the company’s stock valued at $302,000 after purchasing an additional 341 shares in the last quarter. Institutional investors own 36.39% of the company’s stock.

ON Company Profile

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, and all-day activities. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own high-end stores.