ON (NYSE:ONON) Upgraded at Williams Trading

Williams Trading upgraded shares of ON (NYSE:ONON) from a hold rating to a buy rating in a report published on Wednesday,Benzinga reports. Williams Trading currently has $60.00 price objective on the stock, up from their previous price objective of $40.00.

Several other brokerages have also recently commented on ONON. Robert W. Baird lifted their price target on shares of ON from $55.00 to $63.00 and gave the stock an “outperform” rating in a research report on Wednesday. Stifel Nicolaus upped their target price on shares of ON from $45.00 to $59.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Bank of America upgraded ON from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $21.00 to $55.00 in a research report on Monday, September 23rd. Truist Financial upped their price objective on ON from $51.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Finally, Raymond James assumed coverage on ON in a research report on Wednesday, July 31st. They set an “outperform” rating and a $46.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, ON presently has a consensus rating of “Moderate Buy” and an average price target of $54.33.

ON Stock Performance

NYSE ONON opened at $51.92 on Wednesday. The stock has a market capitalization of $32.69 billion, a P/E ratio of 120.75 and a beta of 2.25. ON has a 52 week low of $25.78 and a 52 week high of $56.44. The stock has a fifty day moving average of $49.56 and a 200-day moving average of $43.25.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Private Trust Co. NA acquired a new stake in ON during the third quarter worth about $26,000. Blue Trust Inc. boosted its position in shares of ON by 319.8% during the 3rd quarter. Blue Trust Inc. now owns 529 shares of the company’s stock worth $27,000 after acquiring an additional 403 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in ON by 210.5% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock valued at $28,000 after acquiring an additional 400 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new position in ON during the third quarter valued at approximately $29,000. Finally, Quarry LP acquired a new stake in shares of ON in the 2nd quarter valued at $32,000. Institutional investors own 33.11% 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.