UBS Group Reiterates “Buy” Rating for ON (NYSE:ONON)

ON (NYSE:ONON)‘s stock had its “buy” rating reiterated by equities researchers at UBS Group in a research note issued to investors on Friday,Benzinga reports. They currently have a $63.00 target price on the stock. UBS Group’s price objective suggests a potential upside of 11.72% from the stock’s previous close.

Several other research firms have also recently weighed in on ONON. Citigroup initiated coverage on shares of ON in a report on Wednesday, December 18th. They issued a “neutral” rating and a $65.00 price target for the company. The Goldman Sachs Group upped their target price on shares of ON from $50.00 to $57.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Needham & Company LLC began coverage on ON in a research note on Friday, November 22nd. They issued a “buy” rating and a $64.00 price target on the stock. Stifel Nicolaus upped their price objective on ON from $60.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Finally, KeyCorp increased their price objective on ON from $47.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, September 26th. Five equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $56.77.

ON Trading Down 0.1 %

ONON stock opened at $56.39 on Friday. The business’s 50-day moving average price is $53.62 and its two-hundred day moving average price is $47.05. ON has a 1-year low of $25.78 and a 1-year high of $60.12. The firm has a market cap of $35.51 billion, a PE ratio of 131.14 and a beta of 2.30.

Hedge Funds Weigh In On ON

Institutional investors and hedge funds have recently modified their holdings of the stock. 1832 Asset Management L.P. boosted its holdings in shares of ON by 66,838.9% during the 2nd quarter. 1832 Asset Management L.P. now owns 2,409,800 shares of the company’s stock worth $93,500,000 after buying an additional 2,406,200 shares during the period. Acadian Asset Management LLC grew its position in shares of ON by 574.3% in the second quarter. Acadian Asset Management LLC now owns 1,543,978 shares of the company’s stock valued at $59,878,000 after purchasing an additional 1,315,006 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of ON during the second quarter worth approximately $27,975,000. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of ON by 100.7% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,281,339 shares of the company’s stock worth $49,716,000 after purchasing an additional 642,894 shares during the period. Finally, Cerity Partners LLC lifted its holdings in ON by 189.9% during the 3rd quarter. Cerity Partners LLC now owns 719,493 shares of the company’s stock worth $36,083,000 after purchasing an additional 471,323 shares during the last quarter. 36.39% of the stock is currently owned by institutional investors and hedge funds.

About ON

On Holding AG engages in the development and distribution of sports products worldwide. The company offers athletic footwear, apparel, and accessories for high-performance running, outdoor, training, all-day activities, and tennis. It offers its products through independent retailers and distributors, online, and stores.