ON (NYSE:ONON) Price Target Cut to $28.00 by Analysts at Credit Suisse Group

ON (NYSE:ONONGet Rating) had its target price lowered by Credit Suisse Group from $34.00 to $28.00 in a report released on Thursday, The Fly reports. Credit Suisse Group currently has an outperform rating on the stock.

ONON has been the subject of a number of other research reports. UBS Group increased their price objective on shares of ON from $25.00 to $35.00 and gave the stock a buy rating in a research report on Wednesday, August 17th. Morgan Stanley increased their price objective on shares of ON from $32.00 to $34.00 and gave the stock an overweight rating in a research report on Wednesday, August 17th. Robert W. Baird increased their target price on shares of ON from $28.00 to $31.00 and gave the stock an outperform rating in a report on Wednesday, August 17th. Williams Trading upgraded shares of ON from a hold rating to a buy rating and set a $20.00 target price on the stock in a report on Thursday, October 20th. Finally, Stifel Nicolaus increased their target price on shares of ON from $28.00 to $31.00 in a report on Tuesday, August 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, ON currently has an average rating of Moderate Buy and a consensus price target of $28.45.

ON Stock Performance

NYSE:ONON opened at $16.93 on Thursday. The stock has a market capitalization of $10.54 billion, a P/E ratio of -43.41, a PEG ratio of 1.14 and a beta of 1.68. The company has a 50 day moving average price of $17.54 and a 200 day moving average price of $19.19. ON has a fifty-two week low of $15.44 and a fifty-two week high of $48.97.

Institutional Investors Weigh In On ON

Hedge funds and other institutional investors have recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of ON in the 2nd quarter valued at $28,000. HBK Sorce Advisory LLC purchased a new position in shares of ON in the 3rd quarter valued at $28,000. Russell Investments Group Ltd. purchased a new position in shares of ON in the 3rd quarter valued at $47,000. SeaCrest Wealth Management LLC purchased a new position in shares of ON in the 2nd quarter valued at $106,000. Finally, Whittier Trust Co. purchased a new position in shares of ON in the 2nd quarter valued at $126,000. 17.02% of the stock is currently owned by institutional investors and hedge funds.

About ON

(Get Rating)

On Holding AG develops and distributes sports products worldwide. It offers athletic footwear, apparel, and accessories. The company offers its products through independent retailers and distributors, online, and stores. On Holding AG was founded in 2010 and is headquartered in Zurich, Switzerland.

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Analyst Recommendations for ON (NYSE:ONON)

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