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UBS Group Reiterates $79.00 Price Target for ON (NYSE:ONON)

ON logo with Retail/Wholesale background

Key Points

  • UBS Group has set a price target of $79.00 for ON (NYSE:ONON), indicating a potential upside of 63.24% from its current trading price.
  • ON stock recently traded down by 2.8% to $48.39, with a one-year range between $34.59 and $64.05 and a market cap of $30.47 billion.
  • Institutional investors currently hold 36.39% of ON's stock, with significant recent activity including a 115.7% increase in holdings by the New York State Common Retirement Fund.
  • Looking to export and analyze ON data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

ON (NYSE:ONON - Get Free Report) has been assigned a $79.00 price objective by analysts at UBS Group in a research report issued to clients and investors on Wednesday, MarketBeat reports. The firm currently has a "buy" rating on the stock. UBS Group's price objective would indicate a potential upside of 76.50% from the company's current price.

Several other equities analysts have also issued reports on the company. Morgan Stanley reissued an "overweight" rating and issued a $65.00 price target (up from $62.00) on shares of ON in a research note on Wednesday. Citigroup raised ON from a "neutral" rating to a "buy" rating and dropped their price target for the company from $65.00 to $60.00 in a research note on Monday, April 28th. Robert W. Baird boosted their price target on ON from $63.00 to $70.00 and gave the company an "outperform" rating in a research note on Wednesday, May 14th. Cowen reissued a "buy" rating on shares of ON in a research note on Wednesday, May 14th. Finally, Truist Financial raised their price objective on ON from $61.00 to $69.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $64.20.

Read Our Latest Report on ONON

ON Trading Up 1.2%

ONON traded up $0.55 during trading on Wednesday, hitting $44.76. The company's stock had a trading volume of 4,745,923 shares, compared to its average volume of 5,456,737. ON has a twelve month low of $34.59 and a twelve month high of $64.05. The company has a quick ratio of 2.18, a current ratio of 2.53 and a debt-to-equity ratio of 0.31. The stock's fifty day moving average price is $51.67 and its 200-day moving average price is $50.77. The firm has a market capitalization of $28.18 billion, a P/E ratio of 99.39, a PEG ratio of 2.75 and a beta of 2.24.

Institutional Trading of ON

Several institutional investors and hedge funds have recently modified their holdings of ONON. Kestra Private Wealth Services LLC boosted its position in ON by 151.2% in the first quarter. Kestra Private Wealth Services LLC now owns 18,878 shares of the company's stock worth $829,000 after purchasing an additional 11,362 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in ON in the fourth quarter worth $39,119,000. APEIRON CAPITAL Ltd boosted its position in ON by 35.9% in the first quarter. APEIRON CAPITAL Ltd now owns 999,125 shares of the company's stock worth $43,882,000 after purchasing an additional 264,000 shares during the last quarter. OneDigital Investment Advisors LLC boosted its position in ON by 9.5% in the first quarter. OneDigital Investment Advisors LLC now owns 6,282 shares of the company's stock worth $276,000 after purchasing an additional 544 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in ON in the fourth quarter worth $28,575,000. 36.39% of the stock is owned by hedge funds and other institutional investors.

ON Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for ON (NYSE:ONON)

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