On Holding AG (NYSE:ONON) Receives $59.36 Average Price Target from Brokerages

On Holding AG (NYSE:ONON) has received an average rating of “Moderate Buy” from the twenty-four brokerages that are presently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation, nineteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $59.73.

A number of equities research analysts have recently weighed in on the company. BTIG Research raised ON from a “neutral” rating to a “buy” rating and set a $64.00 price target on the stock 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. Morgan Stanley upped their price objective on shares of ON from $62.00 to $65.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. KeyCorp raised their target price on shares of ON from $60.00 to $68.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Finally, Stifel Nicolaus boosted their price target on shares of ON from $60.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th.

ON Stock Up 1.6 %

Shares of NYSE:ONON opened at $63.16 on Thursday. The company’s 50-day moving average price is $57.21 and its 200 day moving average price is $50.12. The company has a market cap of $39.77 billion, a PE ratio of 146.88, a P/E/G ratio of 1.19 and a beta of 2.30. ON has a fifty-two week low of $26.22 and a fifty-two week high of $63.80.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ONON. RB Capital Management LLC lifted its holdings in ON by 214.8% in the 3rd quarter. RB Capital Management LLC now owns 22,426 shares of the company’s stock worth $1,125,000 after purchasing an additional 15,303 shares during the last quarter. Y Intercept Hong Kong Ltd lifted its stake in shares of ON by 584.8% in the third quarter. Y Intercept Hong Kong Ltd now owns 83,651 shares of the company’s stock worth $4,195,000 after buying an additional 71,436 shares during the last quarter. Forte Capital LLC ADV acquired a new position in ON in the 3rd quarter valued at $742,000. Coronation Fund Managers Ltd. boosted its holdings in ON by 248.6% during the second quarter. Coronation Fund Managers Ltd. now owns 154,903 shares of the company’s stock valued at $6,010,000 after acquiring an additional 110,467 shares during the period. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of ON in the third quarter valued at about $658,000. 36.39% of the stock is owned by hedge funds and other institutional investors.

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.