Stifel Nicolaus Cuts ON (NYSE:ONON) Price Target to $57.00

ON (NYSE:ONON) had its target price lowered by Stifel Nicolaus from $66.00 to $57.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other analysts also recently issued reports about the stock. HSBC upgraded shares of ON from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a report on Tuesday, March 11th. Citigroup started coverage on shares of ON in a research report on Wednesday, December 18th. They set a “neutral” rating and a $65.00 price target on the stock. Bank of America began coverage on ON in a report on Tuesday, January 7th. They issued a “buy” rating and a $73.00 price objective for the company. UBS Group upped their target price on ON from $65.00 to $73.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. Finally, KeyCorp restated an “overweight” rating and issued a $68.00 price target on shares of ON in a research note on Wednesday, March 5th. Three equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $60.00.

ON Price Performance

ONON stock opened at $43.51 on Thursday. The stock has a market capitalization of $27.40 billion, a P/E ratio of 101.19, a P/E/G ratio of 1.02 and a beta of 2.32. ON has a fifty-two week low of $29.84 and a fifty-two week high of $64.05. The business has a 50-day moving average of $47.73 and a 200-day moving average of $52.01.

Institutional Investors Weigh In On ON

Hedge funds and other institutional investors have recently made changes to their positions in the business. Capital Advisors Inc. OK increased its stake in ON by 3.2% during the 4th quarter. Capital Advisors Inc. OK now owns 6,386 shares of the company’s stock worth $350,000 after acquiring an additional 200 shares during the period. Keystone Investors PTE Ltd. grew its holdings in shares of ON by 0.8% during the 4th quarter. Keystone Investors PTE Ltd. now owns 29,918 shares of the company’s stock worth $1,639,000 after purchasing an additional 228 shares in the last quarter. Concurrent Investment Advisors LLC increased its position in shares of ON by 2.8% in the fourth quarter. Concurrent Investment Advisors LLC now owns 9,413 shares of the company’s stock worth $516,000 after purchasing an additional 259 shares during the period. Sage Capital Advisors llc raised its stake in ON by 0.3% in the first quarter. Sage Capital Advisors llc now owns 100,329 shares of the company’s stock valued at $4,406,000 after purchasing an additional 269 shares in the last quarter. Finally, CreativeOne Wealth LLC lifted its position in ON by 2.4% during the fourth quarter. CreativeOne Wealth LLC now owns 13,574 shares of the company’s stock worth $743,000 after purchasing an additional 323 shares during the period. 36.39% of the stock is currently owned by institutional investors and hedge funds.

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, 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.