ON (NYSE:ONON) Price Target Lowered to $65.00 at Telsey Advisory Group

ON (NYSE:ONON - Get Free Report) had its price target reduced by investment analysts at Telsey Advisory Group from $67.00 to $65.00 in a report issued on Wednesday, Marketbeat Ratings reports. The firm currently has an "outperform" rating on the stock. Telsey Advisory Group's price objective points to a potential upside of 31.42% from the stock's current price.

A number of other brokerages also recently commented on ONON. Citigroup upgraded shares of ON from a "neutral" rating to a "buy" rating and reduced their price objective for the company from $65.00 to $60.00 in a research report on Monday, April 28th. Morgan Stanley lowered their price target on shares of ON from $66.00 to $62.00 and set an "overweight" rating on the stock in a research note on Tuesday. Williams Trading raised their price objective on shares of ON from $60.00 to $62.00 and gave the company a "buy" rating in a research note on Tuesday, March 4th. Needham & Company LLC lowered their target price on shares of ON from $64.00 to $50.00 and set a "buy" rating on the stock in a research report on Tuesday, April 1st. Finally, KeyCorp reduced their price target on shares of ON from $68.00 to $60.00 and set an "overweight" rating for the company in a research report on Tuesday, April 29th. Two analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $58.73.

ON Price Performance

Shares of ONON traded down $0.26 during mid-day trading on Wednesday, reaching $49.46. 2,614,549 shares of the company's stock were exchanged, compared to its average volume of 4,687,330. The stock has a market capitalization of $31.14 billion, a PE ratio of 115.03, a price-to-earnings-growth ratio of 1.02 and a beta of 2.30. The business's fifty day simple moving average is $45.20 and its 200-day simple moving average is $51.42. ON has a 52-week low of $29.84 and a 52-week high of $64.05.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ONON. Apollon Wealth Management LLC grew its holdings in shares of ON by 74.0% during the 4th quarter. Apollon Wealth Management LLC now owns 16,005 shares of the company's stock worth $877,000 after purchasing an additional 6,808 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of ON by 34.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,376,850 shares of the company's stock worth $76,213,000 after acquiring an additional 349,789 shares during the last quarter. Strategic Financial Concepts LLC acquired a new position in shares of ON in the fourth quarter worth about $30,000. Raymond James Financial Inc. purchased a new position in ON in the fourth quarter valued at about $28,575,000. Finally, Gerber Kawasaki Wealth & Investment Management grew its stake in ON by 14.7% during the 4th quarter. Gerber Kawasaki Wealth & Investment Management now owns 62,281 shares of the company's stock valued at $3,411,000 after purchasing an additional 7,960 shares in the last quarter. Hedge funds and other institutional investors own 36.39% of the company's stock.

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, 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.