KeyCorp Boosts ON (NYSE:ONON) Price Target to $68.00

ON (NYSE:ONON) had its target price increased by KeyCorp from $60.00 to $68.00 in a research note issued to investors on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other research firms have also recently commented on ONON. Robert W. Baird boosted their target price on ON from $55.00 to $63.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Telsey Advisory Group reissued an “outperform” rating and issued a $67.00 price objective on shares of ON in a research report on Wednesday, January 15th. Barclays raised their target price on shares of ON from $47.00 to $63.00 and gave the company an “overweight” rating 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 stock an “overweight” rating in a research report on Thursday, October 3rd. Finally, Truist Financial raised their price objective on ON from $58.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Four equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $59.73.

ON Price Performance

Shares of ON stock opened at $60.50 on Thursday. The firm has a market cap of $38.09 billion, a price-to-earnings ratio of 140.69, a price-to-earnings-growth ratio of 1.19 and a beta of 2.30. The stock’s 50-day moving average is $56.37 and its 200-day moving average is $49.28. ON has a one year low of $26.03 and a one year high of $60.69.

Institutional Trading of ON

A number of hedge funds have recently modified their holdings of the stock. Private Trust Co. NA acquired a new position in ON in the 3rd quarter valued at about $26,000. Blue Trust Inc. boosted its holdings in shares of ON by 319.8% during the third quarter. Blue Trust Inc. now owns 529 shares of the company’s stock worth $27,000 after acquiring an additional 403 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its position in shares of 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. MidAtlantic Capital Management Inc. bought a new position in shares of ON during the third quarter worth approximately $29,000. Finally, Quarry LP acquired a new stake in ON during the 2nd quarter worth approximately $32,000. Institutional investors and hedge funds 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.