Truist Financial Issues Positive Forecast for ON (NYSE:ONON) Stock Price

ON (NYSE:ONONFree Report) had its price objective boosted by Truist Financial from $58.00 to $61.00 in a research note published on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts have also recently commented on ONON. Morgan Stanley upped their target price on shares of ON from $44.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. HSBC began coverage on ON in a report on Thursday, September 5th. They issued a “hold” rating and a $52.00 price objective for the company. BTIG Research raised ON from a “neutral” rating to a “buy” rating and set a $64.00 target price on the stock in a research note on Wednesday. Robert W. Baird increased their price target on ON from $55.00 to $63.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, TD Cowen lifted their price objective on shares of ON from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Four equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat, ON has a consensus rating of “Moderate Buy” and a consensus target price of $54.33.

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ON Stock Performance

ONON stock opened at $51.92 on Wednesday. ON has a 1 year low of $25.78 and a 1 year high of $56.44. The stock has a market capitalization of $32.69 billion, a price-to-earnings ratio of 120.74 and a beta of 2.25. The stock’s fifty day moving average is $49.56 and its two-hundred day moving average is $43.25.

Institutional Investors Weigh In On ON

Hedge funds and other institutional investors have recently made changes to their positions in the company. 1832 Asset Management L.P. increased its holdings in ON by 66,838.9% in the second 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 last quarter. Westfield Capital Management Co. LP bought a new position in shares of ON during the 1st quarter valued at $65,898,000. Acadian Asset Management LLC lifted its stake in shares of ON by 574.3% in the 2nd 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. Migdal Insurance & Financial Holdings Ltd. bought a new stake in ON in the second quarter worth $43,456,000. Finally, Renaissance Technologies LLC acquired a new position in ON during the second quarter worth $27,975,000. 33.11% of the stock is owned by hedge funds and other institutional investors.

About ON

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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.

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Analyst Recommendations for ON (NYSE:ONON)

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