ON (NYSE:ONON) Given New $65.00 Price Target at Morgan Stanley

ON (NYSE:ONON) had its price objective raised by research analysts at Morgan Stanley from $62.00 to $65.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 10.91% from the company’s previous close.

Several other analysts also recently issued reports on ONON. The Goldman Sachs Group raised their price objective on shares of ON from $50.00 to $57.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Bank of America began coverage on ON in a research note on Tuesday, January 7th. They set a “buy” rating and a $73.00 price target for the company. Robert W. Baird upped their price objective on ON from $55.00 to $63.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Needham & Company LLC reiterated a “buy” rating and set a $64.00 target price on shares of ON in a research report on Wednesday, January 15th. Finally, Stifel Nicolaus upped their price target on shares of ON from $60.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Four equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $59.36.

ON Trading Down 2.2 %

Shares of ONON opened at $58.61 on Tuesday. ON has a twelve month low of $26.03 and a twelve month high of $60.67. The company’s fifty day simple moving average is $56.37 and its 200-day simple moving average is $49.28. The company has a market cap of $36.90 billion, a P/E ratio of 136.30, a P/E/G ratio of 1.19 and a beta of 2.30.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Private Trust Co. NA purchased a new stake in ON during the third quarter valued at approximately $26,000. Blue Trust Inc. lifted its holdings 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 purchasing an additional 403 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in shares of ON by 210.5% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock worth $28,000 after purchasing an additional 400 shares in the last quarter. MidAtlantic Capital Management Inc. purchased a new position in ON during the 3rd quarter worth $29,000. Finally, Quarry LP acquired a new position in ON during the 2nd quarter valued at about $32,000. Hedge funds and other institutional investors own 36.39% of the company’s stock.

ON Company Profile

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.