ON (NYSE:ONON) Given “Buy” Rating at UBS Group

UBS Group reissued their buy rating on shares of ON (NYSE:ONON) in a report released on Friday morning,Benzinga reports. The firm currently has a $63.00 price target on the stock.

ONON has been the topic of several other research reports. Stifel Nicolaus upped their target price on shares of ON from $60.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Barclays upped their price objective on shares of ON from $47.00 to $63.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. TD Cowen lifted their target price on shares of ON from $58.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Bank of America upgraded ON from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $21.00 to $55.00 in a research report on Monday, September 23rd. Finally, Citigroup initiated coverage on ON in a research report on Wednesday, December 18th. They issued a “neutral” rating and a $65.00 price objective for the company. Five research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $56.77.

ON Price Performance

ON stock opened at $55.63 on Friday. The business has a 50 day simple moving average of $53.79 and a 200 day simple moving average of $47.12. ON has a one year low of $25.78 and a one year high of $60.12. The company has a market capitalization of $35.03 billion, a PE ratio of 129.38 and a beta of 2.30.

Institutional Trading of ON

A number of hedge funds have recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. raised its holdings in ON by 23.7% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 44,247 shares of the company’s stock worth $1,717,000 after purchasing an additional 8,491 shares during the period. Principal Financial Group Inc. bought a new position in ON during the second quarter worth about $2,009,000. Crossmark Global Holdings Inc. grew its stake in ON by 3.2% in the second quarter. Crossmark Global Holdings Inc. now owns 10,423 shares of the company’s stock valued at $404,000 after acquiring an additional 325 shares during the period. Baltimore Washington Financial Advisors Inc. raised its position in shares of ON by 1.5% during the second quarter. Baltimore Washington Financial Advisors Inc. now owns 303,351 shares of the company’s stock worth $11,770,000 after purchasing an additional 4,431 shares during the period. Finally, Van ECK Associates Corp bought a new position in shares of ON during the 2nd quarter valued at about $257,000. 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 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.