Morgan Stanley Cuts ON (NYSE:ONON) Price Target to $62.00

ON (NYSE:ONON) had its target price lowered by Morgan Stanley from $66.00 to $62.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price objective indicates a potential upside of 27.81% from the company’s current price.

ONON has been the topic of several other reports. KeyCorp dropped their target price on ON from $68.00 to $60.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 29th. Telsey Advisory Group restated an “outperform” rating and issued a $67.00 price target on shares of ON in a research report on Tuesday, April 1st. UBS Group boosted their price objective on ON from $56.00 to $59.00 and gave the company a “buy” rating in a research note on Monday, April 28th. Hsbc Global Res upgraded shares of ON from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 11th. Finally, Bank of America assumed coverage on shares of ON in a research note on Tuesday, January 7th. They set a “buy” rating and a $73.00 target price on the stock. Two analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $58.59.

ON Trading Down 0.8 %

NYSE:ONON traded down $0.38 during mid-day trading on Tuesday, reaching $48.51. The company’s stock had a trading volume of 840,331 shares, compared to its average volume of 4,685,025. The firm’s fifty day moving average price is $45.16 and its two-hundred day moving average price is $51.45. The stock has a market cap of $30.54 billion, a P/E ratio of 112.78, a PEG ratio of 1.02 and a beta of 2.30. ON has a 12-month low of $29.84 and a 12-month high of $64.05.

Institutional Trading of ON

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital Advisors Inc. OK raised its stake in shares of ON by 3.2% in the fourth quarter. Capital Advisors Inc. OK now owns 6,386 shares of the company’s stock valued at $350,000 after acquiring an additional 200 shares during the period. Keystone Investors PTE Ltd. raised its position in ON by 0.8% in the 4th quarter. Keystone Investors PTE Ltd. now owns 29,918 shares of the company’s stock worth $1,639,000 after purchasing an additional 228 shares during the period. CWM LLC lifted its stake in ON by 22.2% in the first quarter. CWM LLC now owns 1,259 shares of the company’s stock worth $55,000 after purchasing an additional 229 shares during the last quarter. Concurrent Investment Advisors LLC boosted its position in shares of ON by 2.8% during the fourth quarter. Concurrent Investment Advisors LLC now owns 9,413 shares of the company’s stock valued at $516,000 after buying an additional 259 shares during the period. Finally, Sage Capital Advisors llc grew its stake in shares of ON by 0.3% during the first quarter. Sage Capital Advisors llc now owns 100,329 shares of the company’s stock valued at $4,406,000 after buying an additional 269 shares during the last quarter. Hedge funds and other institutional investors own 36.39% of the company’s stock.

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.