ON (NYSE:ONON) Receives “Overweight” Rating from KeyCorp

KeyCorp reiterated their overweight rating on shares of ON (NYSE:ONON) in a research report released on Wednesday morning,Benzinga reports. KeyCorp currently has a $68.00 price target on the stock.

Other analysts have also recently issued reports about the company. Bank of America started coverage on ON in a report on Tuesday, January 7th. They set a “buy” rating and a $73.00 price target for the company. Stifel Nicolaus lifted their price target on ON from $60.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Morgan Stanley lifted their price target on ON from $62.00 to $66.00 and gave the stock an “overweight” rating in a report on Wednesday. TD Cowen lifted their price target on ON from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Finally, UBS Group restated a “buy” rating and set a $63.00 price objective on shares of ON in a research note on Friday, December 27th. Five investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, ON currently has an average rating of “Moderate Buy” and a consensus price target of $60.36.

ON Stock Up 3.9 %

ONON opened at $52.62 on Wednesday. ON has a 12-month low of $27.37 and a 12-month high of $64.05. The stock has a market cap of $33.13 billion, a price-to-earnings ratio of 122.37, a PEG ratio of 1.02 and a beta of 2.30. The business has a 50 day moving average of $55.29 and a 200-day moving average of $52.50.

Institutional Investors Weigh In On ON

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Capital Advisors Inc. OK grew its position in ON by 3.2% during the 4th 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 ON by 0.8% during the 4th quarter. Keystone Investors PTE Ltd. now owns 29,918 shares of the company’s stock worth $1,639,000 after buying an additional 228 shares during the period. Concurrent Investment Advisors LLC lifted its holdings in ON by 2.8% during the 4th quarter. Concurrent Investment Advisors LLC now owns 9,413 shares of the company’s stock worth $516,000 after buying an additional 259 shares during the period. CreativeOne Wealth LLC lifted its holdings in ON by 2.4% during the 4th quarter. CreativeOne Wealth LLC now owns 13,574 shares of the company’s stock worth $743,000 after buying an additional 323 shares during the period. Finally, Atria Investments Inc lifted its holdings in ON by 6.6% during the 4th quarter. Atria Investments Inc now owns 5,515 shares of the company’s stock worth $302,000 after buying an additional 341 shares during the period. 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.