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

ON (NYSE:ONON - Free Report) had its price objective raised by Robert W. Baird from $63.00 to $70.00 in a research note released on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other research firms also recently issued reports on ONON. Piper Sandler dropped their price target on shares of ON from $62.00 to $55.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. KeyCorp dropped their target price on ON from $68.00 to $60.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 29th. Jefferies Financial Group assumed coverage on ON in a report on Tuesday, April 1st. They issued a "hold" rating and a $44.00 price target for the company. Needham & Company LLC increased their target price on ON from $55.00 to $62.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Finally, Telsey Advisory Group restated an "outperform" rating and issued a $65.00 price target on shares of ON in a research note on Tuesday, May 13th. Two equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $62.45.

ON Trading Up 0.4%

ONON traded up $0.26 during trading on Wednesday, hitting $60.16. 2,050,079 shares of the company's stock were exchanged, compared to its average volume of 4,617,166. The stock has a 50 day moving average price of $46.16 and a 200 day moving average price of $51.75. The firm has a market cap of $37.88 billion, a P/E ratio of 140.10, 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 Trading of ON

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Montag A & Associates Inc. purchased a new position in shares of ON in the 1st quarter valued at about $26,000. TCTC Holdings LLC grew its position in shares of 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 in the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of ON in the fourth quarter valued at approximately $30,000. Park Square Financial Group LLC purchased a new position in ON during the fourth quarter worth approximately $32,000. Finally, MassMutual Private Wealth & Trust FSB purchased a new stake in ON in the 1st quarter valued at $32,000. 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, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.