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

ON (NYSE:ONON) had its price target lifted by equities researchers at KeyCorp from $60.00 to $68.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. KeyCorp’s target price points to a potential upside of 17.04% from the stock’s previous close.

Other research analysts have also issued reports about the stock. Bank of America initiated coverage on shares of ON in a research note on Tuesday, January 7th. They issued a “buy” rating and a $73.00 price objective on the stock. Stifel Nicolaus raised their target price on ON from $60.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Barclays lifted their price objective on ON from $47.00 to $63.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Raymond James upgraded ON from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the company from $58.00 to $63.00 in a research note on Thursday, November 21st. Finally, Robert W. Baird increased 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. Four investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $59.73.

ON Stock Down 0.8 %

Shares of ONON opened at $58.10 on Thursday. The business’s fifty day moving average is $56.37 and its 200 day moving average is $49.28. ON has a 12-month low of $26.03 and a 12-month high of $60.67. The stock has a market cap of $36.58 billion, a P/E ratio of 135.45, a P/E/G ratio of 1.23 and a beta of 2.30.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ONON. Capital Advisors Inc. OK increased its holdings in ON by 5.1% in the 3rd quarter. Capital Advisors Inc. OK now owns 6,186 shares of the company’s stock worth $310,000 after acquiring an additional 301 shares in the last quarter. Sage Capital Advisors llc increased its stake in shares of ON by 0.3% in the third quarter. Sage Capital Advisors llc now owns 99,859 shares of the company’s stock worth $5,008,000 after purchasing an additional 328 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in shares of ON by 210.5% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock valued at $28,000 after purchasing an additional 400 shares during the period. Blue Trust Inc. lifted its stake in shares of ON by 319.8% during the 3rd quarter. Blue Trust Inc. now owns 529 shares of the company’s stock valued at $27,000 after buying an additional 403 shares in the last quarter. Finally, Private Trust Co. NA purchased a new stake in ON in the 3rd quarter worth $26,000. 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.