Barclays Cuts ON (NYSE:ONON) Price Target to $52.00

ON (NYSE:ONON) had its target price trimmed by Barclays from $64.00 to $52.00 in a research report sent to investors on Monday morning, MarketBeat reports. The firm currently has an overweight rating on the stock.

Several other equities analysts have also weighed in on the stock. Citigroup upgraded shares of ON from a “neutral” rating to a “buy” rating and reduced their price target for the company from $65.00 to $60.00 in a research report on Monday, April 28th. The Goldman Sachs Group lowered shares of ON from a “buy” rating to a “neutral” rating and set a $57.00 price target for the company. in a research report on Wednesday, February 12th. Morgan Stanley reduced their price target on shares of ON from $66.00 to $62.00 and set an “overweight” rating for the company in a research report on Tuesday, May 6th. Needham & Company LLC increased their price target on shares of ON from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, May 7th. Finally, HSBC upgraded shares of ON from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research report on Tuesday, March 11th. Two analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $61.73.

ON Price Performance

NYSE ONON opened at $57.36 on Monday. ON has a 1 year low of $34.59 and a 1 year high of $64.05. The firm has a market cap of $36.12 billion, a price-to-earnings ratio of 133.40, a PEG ratio of 1.02 and a beta of 2.30. The company has a fifty day moving average price of $45.55 and a 200-day moving average price of $51.56.

Hedge Funds Weigh In On ON

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of ON in the fourth quarter worth about $164,574,000. Jennison Associates LLC lifted its holdings in shares of ON by 136.6% in the first quarter. Jennison Associates LLC now owns 4,848,438 shares of the company’s stock worth $212,943,000 after buying an additional 2,798,794 shares in the last quarter. Nuveen LLC purchased a new stake in shares of ON in the first quarter worth about $102,850,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of ON in the fourth quarter worth about $78,799,000. Finally, Axiom Investors LLC DE purchased a new stake in shares of ON in the fourth quarter worth about $39,320,000. 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, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.