ON (NYSE:ONON) Given New $52.00 Price Target at Barclays

by · The Cerbat Gem

ON (NYSE:ONON – Get Free Report) had its target price decreased by Barclays from $64.00 to $52.00 in a report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price objective points to a potential upside of 1.20% from the company’s previous close.

ONON has been the topic of a number of other research reports. UBS Group increased their price objective on shares of ON from $56.00 to $59.00 and gave the stock a “buy” rating in a report on Monday, April 28th. HSBC upgraded shares of ON from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research note on Tuesday, March 11th. Telsey Advisory Group lowered their target price on ON from $67.00 to $65.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 7th. Citigroup upgraded ON from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $65.00 to $60.00 in a research report on Monday, April 28th. Finally, Morgan Stanley cut their price objective on shares of ON from $66.00 to $62.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 6th. Two analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $58.18.

Check Out Our Latest Report on ONON

ON Stock Performance

Shares of NYSE ONON traded up $1.96 during trading on Monday, reaching $51.38. The stock had a trading volume of 9,540,096 shares, compared to its average volume of 4,685,728. The firm’s 50 day moving average price is $45.20 and its two-hundred day moving average price is $51.47. ON has a one year low of $30.32 and a one year high of $64.05. The stock has a market cap of $32.35 billion, a PE ratio of 119.49, a P/E/G ratio of 1.02 and a beta of 2.30.

Institutional Investors Weigh In On ON

Hedge funds have recently modified their holdings of the business. Apollon Wealth Management LLC increased its position in shares of ON by 74.0% during the fourth quarter. Apollon Wealth Management LLC now owns 16,005 shares of the company’s stock worth $877,000 after acquiring an additional 6,808 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of ON by 34.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,376,850 shares of the company’s stock worth $76,213,000 after buying an additional 349,789 shares during the period. Strategic Financial Concepts LLC bought a new position in shares of ON during the fourth quarter worth about $30,000. Raymond James Financial Inc. bought a new stake in ON in the 4th quarter valued at approximately $28,575,000. Finally, Gerber Kawasaki Wealth & Investment Management lifted its stake in ON by 14.7% in the 4th quarter. Gerber Kawasaki Wealth & Investment Management now owns 62,281 shares of the company’s stock valued at $3,411,000 after acquiring an additional 7,960 shares in the last quarter. Institutional investors and hedge funds own 36.39% of the company’s stock.

About ON

(Get Free Report)

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.

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