ON (NYSE:ONON) Price Target Lowered to $52.00 at Barclays

ON (NYSE:ONON - Get Free Report) had its price objective dropped by equities research analysts at Barclays from $64.00 to $52.00 in a report issued on Monday, MarketBeat Ratings reports. The brokerage presently has an "overweight" rating on the stock. Barclays's price target points to a potential downside of 13.10% from the stock's previous close.

Several other equities research analysts have also issued reports on the stock. The Goldman Sachs Group lowered shares of ON from a "buy" rating to a "neutral" rating and set a $57.00 target price on the stock. in a research note on Wednesday, February 12th. Stifel Nicolaus reduced their target price on shares of ON from $66.00 to $57.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Hsbc Global Res raised shares of ON from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 11th. HSBC raised ON from a "hold" rating to a "buy" rating and set a $58.00 target price on the stock in a research note on Tuesday, March 11th. Finally, Williams Trading lifted their price target on shares of ON from $60.00 to $62.00 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. Two analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $61.73.

ON Stock Up 3.9%

Shares of ONON traded up $2.25 during mid-day trading on Monday, hitting $59.84. 6,069,018 shares of the company traded hands, compared to its average volume of 4,643,277. The business has a 50 day moving average of $45.55 and a 200 day moving average of $51.56. The company has a market capitalization of $37.68 billion, a PE ratio of 139.07, a price-to-earnings-growth ratio of 1.02 and a beta of 2.30. ON has a 1-year low of $34.59 and a 1-year high of $64.05.

Institutional Investors Weigh In On ON

A number of large investors have recently added to or reduced their stakes in ONON. Montag A & Associates Inc. acquired a new position in ON in the 1st quarter valued at about $26,000. TCTC Holdings LLC increased its stake in ON by 118.4% in the first quarter. TCTC Holdings LLC now owns 581 shares of the company's stock valued at $26,000 after purchasing an additional 315 shares during the last quarter. Strategic Financial Concepts LLC purchased a new position in ON during the fourth quarter worth about $30,000. Park Square Financial Group LLC acquired a new stake in ON in the 4th quarter worth about $32,000. Finally, MassMutual Private Wealth & Trust FSB purchased a new stake in ON in the 1st quarter valued at about $32,000. 36.39% of the stock is owned by institutional investors and hedge funds.

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, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.