Robert W. Baird Forecasts Strong Price Appreciation for ON (NYSE:ONON) Stock

ON (NYSE:ONON) had its price objective lifted by Robert W. Baird from $63.00 to $70.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other analysts also recently weighed in on ONON. Telsey Advisory Group reaffirmed an “outperform” rating and set a $65.00 price target on shares of ON in a research note on Tuesday. Needham & Company LLC boosted their price objective on shares of ON from $55.00 to $62.00 and gave the stock a “buy” rating in a research note on Wednesday. Jefferies Financial Group assumed coverage on shares of ON in a research note on Tuesday, April 1st. They issued a “hold” rating and a $44.00 price objective for the company. Barclays reduced their price objective on shares of ON from $64.00 to $52.00 and set an “overweight” rating for the company in a research note on Monday. Finally, UBS Group upped their price target on ON from $56.00 to $59.00 and gave the stock a “buy” rating in a research report on Monday, April 28th. Two research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, ON currently has a consensus rating of “Buy” and an average target price of $61.73.

ON Price Performance

Shares of NYSE:ONON opened at $57.36 on Wednesday. The business has a 50 day simple moving average of $45.55 and a two-hundred day simple moving average of $51.56. ON has a 1 year low of $34.59 and a 1 year high of $64.05. The firm has a market capitalization of $36.12 billion, a PE ratio of 133.40, a price-to-earnings-growth ratio of 1.02 and a beta of 2.30.

Institutional Investors Weigh In On ON

Several hedge funds have recently added to or reduced their stakes in the business. Capital Advisors Inc. OK boosted its holdings in ON by 3.2% in the fourth quarter. Capital Advisors Inc. OK now owns 6,386 shares of the company’s stock valued at $350,000 after purchasing an additional 200 shares during the last quarter. Keystone Investors PTE Ltd. boosted its holdings in ON by 0.8% in the fourth quarter. Keystone Investors PTE Ltd. now owns 29,918 shares of the company’s stock valued at $1,639,000 after purchasing an additional 228 shares during the last quarter. CWM LLC boosted its holdings in ON by 22.2% in the first quarter. CWM LLC now owns 1,259 shares of the company’s stock valued at $55,000 after purchasing an additional 229 shares during the last quarter. Concurrent Investment Advisors LLC boosted 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 purchasing an additional 259 shares during the last quarter. Finally, Sage Capital Advisors llc boosted its holdings in ON by 0.3% in the first quarter. Sage Capital Advisors llc now owns 100,329 shares of the company’s stock valued at $4,406,000 after purchasing an additional 269 shares during the last quarter. 36.39% of the stock is owned by hedge funds and other institutional investors.

About ON

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.