ON (NYSE:ONON) Sets New 52-Week High After Analyst Upgrade

On Holding AG (NYSE:ONON)’s stock price hit a new 52-week high during mid-day trading on Tuesday after Morgan Stanley raised their price target on the stock from $62.00 to $65.00. Morgan Stanley currently has an overweight rating on the stock. ON traded as high as $60.60 and last traded at $60.00, with a volume of 2217813 shares changing hands. The stock had previously closed at $57.98.

A number of other equities research analysts have also recently commented on the stock. Williams Trading upgraded shares of ON from a “hold” rating to a “buy” rating and increased their target price for the company from $40.00 to $60.00 in a research report on Wednesday, November 13th. Piper Sandler boosted their price target on shares of ON from $52.00 to $56.00 and gave the company an “overweight” rating in a research report on Thursday, October 3rd. TD Cowen boosted their target price on shares of ON from $65.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Barclays raised their price target on shares of ON from $47.00 to $63.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Finally, Stifel Nicolaus increased their price target on ON from $60.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Four investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $59.36.

Institutional Investors Weigh In On ON

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capital Advisors Inc. OK boosted 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 valued at $310,000 after purchasing an additional 301 shares in the last quarter. Sage Capital Advisors llc raised its holdings in ON by 0.3% during 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 during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in ON by 210.5% in the third 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 last quarter. Blue Trust Inc. boosted its position in shares of ON by 319.8% in the 3rd quarter. Blue Trust Inc. now owns 529 shares of the company’s stock worth $27,000 after buying an additional 403 shares in the last quarter. Finally, Private Trust Co. NA acquired a new stake in shares of ON in the third quarter valued at approximately $26,000. Hedge funds and other institutional investors own 36.39% of the company’s stock.

ON Price Performance

The company has a market cap of $37.79 billion, a PE ratio of 139.68, a P/E/G ratio of 1.19 and a beta of 2.30. The firm has a 50-day simple moving average of $56.11 and a two-hundred day simple moving average of $49.06.

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.