Robert W. Baird Boosts ON (NYSE:ONON) Price Target to $70.00

ON (NYSE:ONON - Get Free Report) had its price target hoisted by analysts at Robert W. Baird from $63.00 to $70.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Robert W. Baird's price objective would suggest a potential upside of 21.93% from the stock's current price.

Several other research analysts have also issued reports on the company. Morgan Stanley reduced their target price on ON from $66.00 to $62.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Jefferies Financial Group initiated coverage on shares of ON in a research report on Tuesday, April 1st. They issued a "hold" rating and a $44.00 price objective for the company. Telsey Advisory Group reissued an "outperform" rating and set a $65.00 target price on shares of ON in a research report on Tuesday. Stifel Nicolaus reduced their target price on ON from $66.00 to $57.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Finally, HSBC upgraded shares of ON from a "hold" rating to a "buy" rating and set a $58.00 price objective for the company in a research note on Tuesday, March 11th. Two equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, ON has a consensus rating of "Buy" and an average price target of $59.18.

ON Stock Up 11.9%

NYSE:ONON opened at $57.41 on Wednesday. The stock has a market capitalization of $36.15 billion, a price-to-earnings ratio of 133.51, a PEG ratio of 1.02 and a beta of 2.30. ON has a 52 week low of $33.55 and a 52 week high of $64.05. The firm has a 50 day moving average of $45.33 and a 200 day moving average of $51.52.

Hedge Funds Weigh In On ON

Institutional investors have recently added to or reduced their stakes in the stock. Park Square Financial Group LLC acquired a new position in shares of ON during the 4th quarter valued at about $32,000. TCTC Holdings LLC grew its position in ON by 118.4% in the first quarter. TCTC Holdings LLC now owns 581 shares of the company's stock worth $26,000 after acquiring an additional 315 shares during the period. Montag A & Associates Inc. acquired a new stake in ON during the first quarter worth $26,000. MassMutual Private Wealth & Trust FSB purchased a new stake in ON in the first quarter valued at $32,000. Finally, Legacy Bridge LLC acquired a new position in shares of ON in the 4th quarter valued at $43,000. Hedge funds and other 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, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.

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