ON (NYSE:ONON) Price Target Raised to $68.00 at KeyCorp

ON (NYSE:ONON) had its price objective lifted by equities research analysts at KeyCorp from $60.00 to $68.00 in a report released on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s price objective indicates a potential upside of 17.04% from the company’s previous close.

ONON has been the topic of a number of other research reports. Stifel Nicolaus upped their price target on shares of ON from $60.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Telsey Advisory Group reissued an “outperform” rating and issued a $67.00 price objective on shares of ON in a research report on Wednesday, January 15th. Williams Trading raised shares of ON from a “hold” rating to a “buy” rating and raised their price objective for the stock from $40.00 to $60.00 in a research note on Wednesday, November 13th. Robert W. Baird boosted their price objective on shares of ON from $55.00 to $63.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Finally, Bank of America began coverage on ON in a research note on Tuesday, January 7th. They issued a “buy” rating and a $73.00 price objective on the stock. 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $59.73.

ON Stock Performance

Shares of NYSE ONON opened at $58.10 on Thursday. The firm’s fifty day moving average is $56.37 and its two-hundred day moving average is $49.28. ON has a 52-week low of $26.03 and a 52-week high of $60.67. The company has a market cap of $36.58 billion, a P/E ratio of 135.45, a P/E/G ratio of 1.23 and a beta of 2.30.

Institutional Trading of ON

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. RB Capital Management LLC lifted its position in ON by 214.8% during the third quarter. RB Capital Management LLC now owns 22,426 shares of the company’s stock valued at $1,125,000 after purchasing an additional 15,303 shares during the period. Y Intercept Hong Kong Ltd lifted its holdings in shares of ON by 584.8% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 83,651 shares of the company’s stock valued at $4,195,000 after buying an additional 71,436 shares during the period. Forte Capital LLC ADV purchased a new position in ON during the third quarter valued at approximately $742,000. Coronation Fund Managers Ltd. grew its stake in shares of ON by 248.6% during the 2nd quarter. Coronation Fund Managers Ltd. now owns 154,903 shares of the company’s stock worth $6,010,000 after purchasing an additional 110,467 shares during the period. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of ON during the 3rd quarter valued at approximately $658,000. Institutional investors and hedge funds 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.