Stifel Nicolaus Forecasts Strong Price Appreciation for ON (NYSE:ONON) Stock

ON (NYSE:ONON) had its price target upped by analysts at Stifel Nicolaus from $60.00 to $66.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective points to a potential upside of 14.56% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. TD Cowen raised their target price on shares of ON from $58.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Robert W. Baird raised their target price on shares of ON from $55.00 to $63.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. The Goldman Sachs Group raised their target price on shares of ON from $50.00 to $57.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. UBS Group raised their target price on shares of ON from $61.00 to $63.00 and gave the stock a “buy” rating 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 raised their target price for the stock from $58.00 to $63.00 in a research report on Thursday, November 21st. Four analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, ON presently has an average rating of “Moderate Buy” and a consensus price target of $56.38.

ON Trading Up 4.4 %

Shares of ON stock traded up $2.43 during mid-day trading on Wednesday, hitting $57.61. 855,648 shares of the stock were exchanged, compared to its average volume of 4,842,267. ON has a twelve month low of $25.78 and a twelve month high of $60.12. The stock has a market capitalization of $36.27 billion, a price-to-earnings ratio of 133.95 and a beta of 2.30. The company has a 50-day simple moving average of $52.18 and a 200 day simple moving average of $45.94.

Institutional Trading of ON

Institutional investors have recently added to or reduced their stakes in the business. Private Trust Co. NA bought a new stake in ON during the third quarter valued at $26,000. Blue Trust Inc. boosted its holdings in shares of ON by 319.8% during the third quarter. Blue Trust Inc. now owns 529 shares of the company’s stock valued at $27,000 after acquiring an additional 403 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its holdings in ON by 210.5% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock worth $28,000 after purchasing an additional 400 shares during the period. MidAtlantic Capital Management Inc. acquired a new stake in ON in the third quarter worth about $29,000. Finally, Quarry LP acquired a new stake in ON in the second quarter worth about $32,000. Institutional investors 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.