Barclays Cuts ON (NYSE:ONON) Price Target to $52.00

ON (NYSE:ONON) had its target price cut by Barclays from $64.00 to $52.00 in a research note released on Monday morning, MarketBeat.com reports. They currently have an overweight rating on the stock.

A number of other research analysts also recently issued reports on the stock. HSBC upgraded shares of ON from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research report on Tuesday, March 11th. Stifel Nicolaus dropped their target price on shares of ON from $66.00 to $57.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Jefferies Financial Group started coverage on shares of ON in a research report on Tuesday, April 1st. They set a “hold” rating and a $44.00 target price on the stock. Telsey Advisory Group dropped their target price on shares of ON from $67.00 to $65.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 7th. Finally, Piper Sandler dropped their target price on shares of ON from $62.00 to $55.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. Two investment analysts have rated the stock with a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $61.73.

ON Stock Performance

Shares of NYSE ONON opened at $57.36 on Monday. The company has a market capitalization of $36.12 billion, a P/E ratio of 133.40, a price-to-earnings-growth ratio of 1.02 and a beta of 2.30. ON has a 52-week low of $34.59 and a 52-week high of $64.05. The company’s 50 day moving average price is $45.55 and its 200-day moving average price is $51.56.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. RB Capital Management LLC raised its holdings in ON by 10.5% during the first quarter. RB Capital Management LLC now owns 29,158 shares of the company’s stock worth $1,281,000 after buying an additional 2,762 shares during the last quarter. CreativeOne Wealth LLC raised its holdings in ON by 17.7% during the first quarter. CreativeOne Wealth LLC now owns 15,977 shares of the company’s stock worth $702,000 after buying an additional 2,403 shares during the last quarter. Quantitative Investment Management LLC bought a new stake in shares of ON in the 1st quarter worth $410,000. Jump Financial LLC grew its stake in shares of ON by 746.6% in the 1st quarter. Jump Financial LLC now owns 717,740 shares of the company’s stock worth $31,523,000 after acquiring an additional 632,965 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in shares of ON by 3,392.6% in the 1st quarter. Smartleaf Asset Management LLC now owns 943 shares of the company’s stock worth $42,000 after acquiring an additional 916 shares in the last quarter. 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 such as footwear, apparel, and accessories for high-performance running, outdoor, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.