Brokerages Set On Holding AG (NYSE:ONON) Price Target at $59.73

Shares of On Holding AG (NYSE:ONON) have earned a consensus recommendation of “Moderate Buy” from the twenty-four ratings firms that are covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $59.73.

Several research analysts recently issued reports on the stock. Citigroup assumed coverage on shares of ON in a report on Wednesday, December 18th. They set a “neutral” rating and a $65.00 target price for the company. The Goldman Sachs Group lowered ON from a “buy” rating to a “neutral” rating and set a $57.00 price objective for the company. in a research note on Wednesday, February 12th. Telsey Advisory Group restated an “outperform” rating and issued a $67.00 target price on shares of ON in a research note on Wednesday, January 15th. KeyCorp lifted their price target on ON from $60.00 to $68.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Finally, Robert W. Baird upped their price objective on ON from $55.00 to $63.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th.

ON Trading Down 5.8 %

Shares of NYSE:ONON opened at $48.23 on Monday. ON has a twelve month low of $27.37 and a twelve month high of $64.05. The company’s 50 day moving average is $56.37 and its 200 day moving average is $52.12. The company has a market cap of $30.37 billion, a PE ratio of 112.16, a price-to-earnings-growth ratio of 1.02 and a beta of 2.30.

Hedge Funds Weigh In On ON

Hedge funds and other institutional investors have recently made changes to their positions in the company. Private Trust Co. NA acquired a new position in ON in the 3rd quarter valued at $26,000. Blue Trust Inc. grew 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 buying an additional 403 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised 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 buying an additional 400 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new position in shares of ON in the third quarter worth about $29,000. Finally, Strategic Financial Concepts LLC acquired a new position in ON during the fourth quarter worth about $30,000. 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.