ON (NYSE:ONON) Stock Price Expected to Rise, Robert W. Baird Analyst Says

ON (NYSE:ONON) had its price target increased by research analysts at Robert W. Baird from $63.00 to $70.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price objective points to a potential upside of 16.07% from the company’s current price.

ONON has been the subject of a number of other research reports. Needham & Company LLC upped their price objective on shares of ON from $55.00 to $62.00 and gave the company a “buy” rating in a research report on Wednesday. Telsey Advisory Group reissued an “outperform” rating and issued a $65.00 price target on shares of ON in a research report on Tuesday. Stifel Nicolaus dropped their price target on shares of ON from $66.00 to $57.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. UBS Group increased their price target on shares of ON from $56.00 to $59.00 and gave the stock a “buy” rating in a research report on Monday, April 28th. Finally, Jefferies Financial Group assumed coverage on shares of ON in a research report on Tuesday, April 1st. They issued a “hold” rating and a $44.00 price target for the company. Two investment analysts have rated the stock with a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $61.73.

ON Stock Performance

Shares of ONON opened at $60.31 on Wednesday. The company has a 50-day simple moving average of $45.87 and a 200-day simple moving average of $51.63. The firm has a market capitalization of $37.97 billion, a P/E ratio of 140.26, a P/E/G ratio of 1.02 and a beta of 2.30. ON has a 52 week low of $34.59 and a 52 week high of $64.05.

Institutional Trading of ON

Several hedge funds have recently modified their holdings of ONON. Montag A & Associates Inc. acquired a new stake in shares of ON during the first quarter worth approximately $26,000. TCTC Holdings LLC grew its stake in shares of ON by 118.4% during the first quarter. TCTC Holdings LLC now owns 581 shares of the company’s stock valued at $26,000 after purchasing an additional 315 shares during the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of ON during the fourth quarter valued at approximately $30,000. Park Square Financial Group LLC bought a new stake in shares of ON during the fourth quarter valued at approximately $32,000. Finally, MassMutual Private Wealth & Trust FSB bought a new stake in shares of ON during the first quarter valued at approximately $32,000. Institutional investors and hedge funds 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, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.