ON (NYSE:ONON) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of ON (NYSE:ONON) in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has a $64.00 price target on the stock.

Other equities analysts have also issued research reports about the stock. Williams Trading raised shares of ON from a “hold” rating to a “buy” rating and boosted their price objective for the company from $40.00 to $60.00 in a research report on Wednesday, November 13th. Stifel Nicolaus upped their price target on shares of ON from $60.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. TD Cowen upped their price target on shares of ON from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. BTIG Research raised shares of ON from a “neutral” rating to a “buy” rating and set a $64.00 price target for the company in a research report on Wednesday, November 13th. Finally, Raymond James raised shares of ON from an “outperform” rating to a “strong-buy” rating and upped their price target for the stock from $58.00 to $63.00 in a research report on Thursday, November 21st. Five 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $59.82.

ON Price Performance

NYSE:ONON opened at $50.72 on Tuesday. The firm has a 50 day simple moving average of $55.40 and a 200-day simple moving average of $52.44. The firm has a market cap of $31.94 billion, a PE ratio of 117.96, a P/E/G ratio of 1.02 and a beta of 2.30. ON has a 1-year low of $27.37 and a 1-year high of $64.05.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Private Trust Co. NA bought a new position in ON during the 3rd quarter valued at $26,000. Park Square Financial Group LLC acquired a new stake in shares of ON during the fourth quarter worth $32,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of ON during the third quarter worth $29,000. Legacy Bridge LLC acquired a new stake in shares of ON during the fourth quarter worth $43,000. Finally, Bernard Wealth Management Corp. acquired a new stake in shares of ON during the fourth quarter worth $44,000. 36.39% of the stock is currently owned by institutional investors.

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.