ON (NYSE:ONON) Earns Buy Rating from Analysts at Bank of America

Bank of America assumed coverage on shares of ON (NYSE:ONON) in a research report released on Tuesday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $73.00 price objective on the stock.

ONON has been the topic of several other reports. The Goldman Sachs Group raised their target price on shares of ON from $50.00 to $57.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. TD Cowen boosted their price objective on shares of ON from $58.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Citigroup began coverage on ON in a report on Wednesday, December 18th. They issued a “neutral” rating and a $65.00 target price on the stock. Needham & Company LLC initiated coverage on ON in a report on Friday, November 22nd. They issued a “buy” rating and a $64.00 price objective on the stock. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $53.00 target price on shares of ON in a report on Tuesday, November 12th. Four analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, ON has an average rating of “Moderate Buy” and an average price target of $57.59.

ON Trading Up 1.1 %

NYSE ONON opened at $55.21 on Tuesday. The business’s 50-day moving average price is $54.80 and its 200 day moving average price is $47.92. ON has a twelve month low of $26.03 and a twelve month high of $60.12. The company has a market capitalization of $34.76 billion, a PE ratio of 128.40 and a beta of 2.30.

Hedge Funds Weigh In On ON

Hedge funds have recently bought and sold shares of the company. Principal Financial Group Inc. bought a new stake in ON during the second quarter valued at $2,009,000. Van ECK Associates Corp acquired a new stake in ON during the second quarter worth about $257,000. TD Asset Management Inc acquired a new position in ON in the second quarter valued at approximately $1,521,000. National Bank of Canada FI grew its holdings in shares of ON by 24.0% during the second quarter. National Bank of Canada FI now owns 2,585 shares of the company’s stock valued at $98,000 after purchasing an additional 500 shares during the last quarter. Finally, Private Advisor Group LLC lifted its holdings in shares of ON by 48.6% in the 2nd quarter. Private Advisor Group LLC now owns 21,875 shares of the company’s stock worth $849,000 after purchasing an additional 7,154 shares during the last quarter. 36.39% of the stock is currently owned by institutional investors and hedge funds.

ON Company Profile

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.