ON (NYSE:ONON) Price Target Raised to $46.00 at Morgan Stanley

ON (NYSE:ONON) had its price target raised by Morgan Stanley from $44.00 to $46.00 in a research note released on Wednesday morning, Benzinga reports. They currently have an overweight rating on the stock.

A number of other research analysts also recently weighed in on ONON. Stifel Nicolaus raised their target price on shares of ON from $41.00 to $45.00 and gave the company a buy rating in a research report on Monday, August 12th. KeyCorp raised their price objective on ON from $40.00 to $47.00 and gave the company an overweight rating in a report on Wednesday, July 24th. Truist Financial upped their target price on ON from $46.00 to $51.00 and gave the stock a buy rating in a report on Wednesday. Needham & Company LLC raised their price target on ON from $40.00 to $45.00 and gave the company a buy rating in a research note on Wednesday, May 15th. Finally, JPMorgan Chase & Co. upped their price objective on ON from $40.00 to $47.00 and gave the stock an overweight rating in a research note on Monday, June 17th. Two equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $45.11.

ON Stock Performance

NYSE ONON opened at $42.54 on Wednesday. The stock has a market capitalization of $26.79 billion, a price-to-earnings ratio of 96.68, a PEG ratio of 1.16 and a beta of 2.22. ON has a 52 week low of $23.41 and a 52 week high of $44.30. The stock’s 50 day moving average price is $39.62 and its two-hundred day moving average price is $35.83.

Hedge Funds Weigh In On ON

Large investors have recently made changes to their positions in the company. Ameritas Advisory Services LLC increased its position in ON by 1.3% during the 2nd quarter. Ameritas Advisory Services LLC now owns 23,806 shares of the company’s stock worth $924,000 after buying an additional 300 shares during the period. Artemis Investment Management LLP increased its position in ON by 1.9% during the second quarter. Artemis Investment Management LLP now owns 16,410 shares of the company’s stock worth $637,000 after acquiring an additional 302 shares during the period. Crossmark Global Holdings Inc. raised its stake in ON by 3.2% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 10,423 shares of the company’s stock worth $404,000 after purchasing an additional 325 shares in the last quarter. Asset Dedication LLC boosted its holdings in ON by 25.8% in the 2nd quarter. Asset Dedication LLC now owns 1,592 shares of the company’s stock valued at $62,000 after purchasing an additional 327 shares during the period. Finally, King Luther Capital Management Corp grew its position in shares of ON by 0.7% during the 2nd quarter. King Luther Capital Management Corp now owns 56,021 shares of the company’s stock worth $2,174,000 after purchasing an additional 405 shares in the last quarter. Institutional investors own 33.11% of the company’s stock.

ON Company Profile

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.