ON (NYSE:ONON) Now Covered by Jefferies Financial Group

Stock analysts at Jefferies Financial Group initiated coverage on shares of ON (NYSE:ONON) in a note issued to investors on Tuesday,Benzinga reports. The firm set a “hold” rating and a $44.00 price target on the stock. Jefferies Financial Group’s price target suggests a potential upside of 0.17% from the company’s current price.

ONON has been the subject of several other reports. Needham & Company LLC reiterated a “buy” rating and issued a $64.00 target price on shares of ON in a report on Tuesday, March 4th. Barclays raised their target price on shares of ON from $63.00 to $64.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Williams Trading upped their price target on shares of ON from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Citigroup assumed coverage on shares of ON in a research note on Wednesday, December 18th. They issued a “neutral” rating and a $65.00 price objective for the company. Finally, KeyCorp reaffirmed an “overweight” rating and set a $68.00 target price on shares of ON in a research report on Wednesday, March 5th. Three equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $61.09.

ON Stock Performance

Shares of NYSE:ONON opened at $43.92 on Tuesday. ON has a one year low of $29.84 and a one year high of $64.05. The firm has a market cap of $27.66 billion, a PE ratio of 102.15, a price-to-earnings-growth ratio of 1.02 and a beta of 2.35. The firm’s 50 day simple moving average is $51.85 and its 200-day simple moving average is $52.68.

Institutional Trading of ON

Hedge funds have recently modified their holdings of the stock. FMR LLC boosted its holdings in ON by 1.6% during the fourth quarter. FMR LLC now owns 28,875,965 shares of the company’s stock worth $1,581,537,000 after buying an additional 462,738 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of ON by 2.8% during the 4th quarter. Alliancebernstein L.P. now owns 17,378,277 shares of the company’s stock worth $951,808,000 after acquiring an additional 471,805 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its position in shares of ON by 0.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,361,491 shares of the company’s stock valued at $184,109,000 after acquiring an additional 18,752 shares during the period. Norges Bank purchased a new position in shares of ON in the 4th quarter valued at about $164,574,000. Finally, Jennison Associates LLC raised its holdings in ON by 27.4% in the 4th quarter. Jennison Associates LLC now owns 2,049,644 shares of the company’s stock worth $112,259,000 after purchasing an additional 440,685 shares during the period. Hedge funds and other institutional investors own 36.39% of the company’s stock.

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, 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.