ON (NYSE:ONON) Research Coverage Started at Needham & Company LLC

Needham & Company LLC assumed coverage on shares of ON (NYSE:ONON) in a research report report published on Friday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $64.00 target price on the stock.

A number of other equities analysts have also recently commented on ONON. Evercore ISI raised ON to an “overweight” rating and boosted their price target for the stock from $43.00 to $47.00 in a report on Monday, August 12th. Williams Trading upgraded shares of ON from a “hold” rating to a “buy” rating and upped their price objective for the stock from $40.00 to $60.00 in a research report on Wednesday, November 13th. TD Cowen raised their target price on shares of ON from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. The Goldman Sachs Group boosted their price objective on ON from $50.00 to $57.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Raymond James upgraded shares of ON from an “outperform” rating to a “strong-buy” rating and upped their price target for the company from $58.00 to $63.00 in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $56.05.

ON Stock Up 3.5 %

ONON opened at $58.13 on Friday. ON has a twelve month low of $25.78 and a twelve month high of $58.51. The stock has a market capitalization of $36.60 billion, a price-to-earnings ratio of 135.19 and a beta of 2.25. The company has a 50-day simple moving average of $50.34 and a 200 day simple moving average of $44.00.

Hedge Funds Weigh In On ON

A number of hedge funds have recently added to or reduced their stakes in the stock. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in 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 last quarter. Forte Capital LLC ADV purchased a new stake in shares of ON during the third quarter valued at approximately $742,000. Coronation Fund Managers Ltd. increased its position in shares of ON by 248.6% during the second quarter. Coronation Fund Managers Ltd. now owns 154,903 shares of the company’s stock valued at $6,010,000 after acquiring an additional 110,467 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in ON during the first quarter worth $486,000. Finally, Raymond James & Associates boosted its position in ON by 23.4% in the third quarter. Raymond James & Associates now owns 256,725 shares of the company’s stock worth $12,875,000 after purchasing an additional 48,600 shares during the last quarter. Institutional investors and hedge funds own 33.11% of the company’s stock.

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.