ON (NYSE:ONON) Rating Increased to Strong-Buy at Raymond James

Raymond James upgraded shares of ON (NYSE:ONON) from an outperform rating to a strong-buy rating in a research note released on Thursday morning, Marketbeat reports. They currently have $63.00 price objective on the stock, up from their previous price objective of $58.00.

Several other research firms have also weighed in on ONON. Bank of America upgraded shares of ON from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $21.00 to $55.00 in a research note on Monday, September 23rd. Barclays upped their price objective on shares of ON from $47.00 to $63.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. KeyCorp upped their price objective on shares of ON from $47.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, September 26th. Evercore ISI raised shares of ON to an “overweight” rating and upped their price target for the company from $43.00 to $47.00 in a report on Monday, August 12th. Finally, Morgan Stanley upped their price target on shares of ON from $44.00 to $46.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Four analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $56.05.

ON Trading Up 2.4 %

Shares of NYSE:ONON opened at $57.56 on Thursday. ON has a 12-month low of $25.78 and a 12-month high of $57.89. The company has a fifty day simple moving average of $50.01 and a 200 day simple moving average of $43.68. The firm has a market cap of $36.24 billion, a PE ratio of 130.53 and a beta of 2.25.

Hedge Funds Weigh In On ON

Large investors have recently made changes to their positions in the business. Private Trust Co. NA acquired a new position in shares of ON in the 3rd quarter valued at about $26,000. Blue Trust Inc. grew its stake in shares of ON by 319.8% in the 3rd quarter. Blue Trust Inc. now owns 529 shares of the company’s stock valued at $27,000 after buying an additional 403 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake 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 valued at $28,000 after buying an additional 400 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new stake in shares of ON in the 3rd quarter valued at approximately $29,000. Finally, Quarry LP bought a new stake in shares of ON in the 2nd quarter valued at approximately $32,000. Institutional investors and hedge funds 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.