Needham & Company LLC Reiterates “Buy” Rating for ON (NYSE:ONON)

Needham & Company LLC reissued their buy rating on shares of ON (NYSE:ONON) in a report published on Tuesday,Benzinga reports. The brokerage currently has a $64.00 price target on the stock.

Other analysts also recently issued research reports about the company. Citigroup initiated coverage on ON in a report on Wednesday, December 18th. They set a “neutral” rating and a $65.00 price objective on the stock. UBS Group restated a “buy” rating and set a $63.00 price objective on shares of ON in a report on Friday, December 27th. Stifel Nicolaus boosted their price objective on ON from $60.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Truist Financial boosted their price objective on ON from $58.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Barclays boosted their price objective on ON from $47.00 to $63.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Five analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, ON currently has an average rating of “Moderate Buy” and a consensus price target of $60.36.

ON Trading Down 5.4 %

Shares of NYSE ONON opened at $49.63 on Tuesday. ON has a twelve month low of $27.37 and a twelve month high of $64.05. The company has a market capitalization of $31.25 billion, a price-to-earnings ratio of 115.42, a PEG ratio of 1.02 and a beta of 2.35. The firm has a 50-day moving average of $55.21 and a two-hundred day moving average of $52.50.

Institutional Investors Weigh In On ON

Large investors have recently made changes to their positions in the company. FMR LLC boosted its position 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 purchasing an additional 462,738 shares during the period. Alliancebernstein L.P. boosted its position in ON by 2.8% during the fourth quarter. Alliancebernstein L.P. now owns 17,378,277 shares of the company’s stock worth $951,808,000 after purchasing an additional 471,805 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in shares of ON by 0.6% in the fourth 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 bought a new stake in shares of ON in the fourth quarter valued at approximately $164,574,000. Finally, Jennison Associates LLC boosted its position in shares of ON by 27.4% in the fourth quarter. Jennison Associates LLC now owns 2,049,644 shares of the company’s stock valued at $112,259,000 after acquiring an additional 440,685 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.