ON’s (ONON) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of ON (NYSE:ONON) in a research note released on Tuesday morning,Benzinga reports. They currently have a $64.00 price objective on the stock.

A number of other brokerages have also issued reports on ONON. Robert W. Baird lifted their price target on shares of ON from $55.00 to $63.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Stifel Nicolaus boosted their target price on shares of ON from $60.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Raymond James upgraded shares of ON from an “outperform” rating to a “strong-buy” rating and boosted their target price for the company from $58.00 to $63.00 in a research note on Thursday, November 21st. Telsey Advisory Group reiterated an “outperform” rating and set a $67.00 target price on shares of ON in a research note on Tuesday. Finally, UBS Group reiterated a “buy” rating and set a $63.00 target price on shares of ON in a research note on Friday, December 27th. Five research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $60.36.

ON Trading Down 5.4 %

Shares of NYSE:ONON opened at $49.63 on Tuesday. The company has a fifty day simple moving average of $55.21 and a 200 day simple moving average of $52.50. The firm has a market cap of $31.25 billion, a PE ratio of 115.42, a price-to-earnings-growth ratio of 1.02 and a beta of 2.35. ON has a 12-month low of $27.37 and a 12-month high of $64.05.

Institutional Investors Weigh In On ON

Several institutional investors have recently bought and sold shares of the stock. Capital Advisors Inc. OK lifted its holdings in ON by 3.2% in the fourth quarter. Capital Advisors Inc. OK now owns 6,386 shares of the company’s stock worth $350,000 after purchasing an additional 200 shares during the period. Keystone Investors PTE Ltd. lifted its holdings in ON by 0.8% in the fourth 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 during the period. Concurrent Investment Advisors LLC lifted its holdings in 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. CreativeOne Wealth LLC lifted its holdings in ON by 2.4% in the 4th quarter. CreativeOne Wealth LLC now owns 13,574 shares of the company’s stock valued at $743,000 after acquiring an additional 323 shares during the last quarter. Finally, Atria Investments Inc lifted its holdings in ON by 6.6% in the 4th quarter. Atria Investments Inc now owns 5,515 shares of the company’s stock valued at $302,000 after acquiring an additional 341 shares during the last quarter. Institutional investors and hedge funds 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.