ON (NYSE:ONON) Earns Hold Rating from Analysts at Jefferies Financial Group

Jefferies Financial Group began coverage on shares of ON (NYSE:ONON) in a research note released on Tuesday, Marketbeat reports. The firm issued a hold rating and a $44.00 price objective on the stock.

Other analysts have also issued reports about the company. HSBC upgraded ON from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research note on Tuesday, March 11th. TD Cowen boosted their price objective on ON from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Bank of America began coverage on shares of ON in a research report on Tuesday, January 7th. They set a “buy” rating and a $73.00 target price for the company. The Goldman Sachs Group downgraded shares of ON from a “buy” rating to a “neutral” rating and set a $57.00 target price for the company. in a research note on Wednesday, February 12th. Finally, Barclays upped their price target on shares of ON from $63.00 to $64.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $60.45.

ON Stock Performance

Shares of NYSE:ONON opened at $37.57 on Tuesday. The company has a market capitalization of $23.66 billion, a P/E ratio of 87.38, a price-to-earnings-growth ratio of 1.02 and a beta of 2.35. The company’s 50-day moving average is $50.77 and its 200 day moving average is $52.48. ON has a fifty-two week low of $29.84 and a fifty-two week high of $64.05.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Bank of Montreal Can lifted its holdings in shares of ON by 27.2% in the 3rd quarter. Bank of Montreal Can now owns 46,320 shares of the company’s stock worth $2,368,000 after acquiring an additional 9,895 shares during the last quarter. Townsquare Capital LLC bought a new stake in ON in the third quarter worth $609,000. Rockefeller Capital Management L.P. boosted its position in ON by 5.0% during the third quarter. Rockefeller Capital Management L.P. now owns 58,339 shares of the company’s stock valued at $2,926,000 after buying an additional 2,755 shares during the period. Verition Fund Management LLC grew its stake in shares of ON by 94.0% during the third quarter. Verition Fund Management LLC now owns 125,878 shares of the company’s stock valued at $6,313,000 after buying an additional 60,976 shares during the last quarter. Finally, Paloma Partners Management Co bought a new stake in shares of ON in the 3rd quarter valued at about $336,000. Institutional investors own 36.39% of the company’s stock.

ON Company Profile

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.