ON’s (ONON) Outperform Rating Reaffirmed at Telsey Advisory Group

ON (NYSE:ONON)‘s stock had its “outperform” rating reissued by equities research analysts at Telsey Advisory Group in a research report issued on Wednesday,Benzinga reports. They currently have a $65.00 price target on the stock. Telsey Advisory Group’s price objective would indicate a potential upside of 40.60% from the stock’s current price.

Other research analysts have also recently issued reports about the company. JPMorgan Chase & Co. raised their target price on ON from $71.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, November 13th. Williams Trading cut ON from a “buy” rating to a “hold” rating and decreased their target price for the stock from $55.00 to $47.00 in a report on Thursday, January 8th. UBS Group reissued a “buy” rating on shares of ON in a research note on Monday, January 5th. Guggenheim upgraded ON to a “strong-buy” rating in a report on Wednesday, December 10th. Finally, Raymond James Financial decreased their price target on shares of ON from $66.00 to $55.00 and set an “outperform” rating for the company in a report on Tuesday, October 21st. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.59.

ON Stock Down 2.2%

ONON opened at $46.23 on Wednesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.05 and a current ratio of 2.55. The business has a 50 day moving average price of $45.06 and a 200 day moving average price of $45.64. The firm has a market cap of $29.03 billion, a P/E ratio of 60.04, a price-to-earnings-growth ratio of 1.47 and a beta of 2.15. ON has a twelve month low of $34.38 and a twelve month high of $64.05.

Institutional Trading of ON

Several institutional investors have recently modified their holdings of the business. Washington Trust Advisors Inc. acquired a new stake in shares of ON in the second quarter valued at about $29,000. United Financial Planning Group LLC bought a new stake in ON during the third quarter valued at $42,000. Horizon Investments LLC bought a new position in shares of ON in the 3rd quarter worth about $44,000. GAMMA Investing LLC boosted its position in shares of ON by 5,888.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,078 shares of the company’s stock valued at $46,000 after purchasing an additional 1,060 shares in the last quarter. Finally, Ramirez Asset Management Inc. grew its stake in ON by 20.0% during the second quarter. Ramirez Asset Management Inc. now owns 1,200 shares of the company’s stock worth $62,000 after purchasing an additional 200 shares during the period. Institutional investors own 36.39% of the company’s stock.

About ON

On Holding AG, commonly known as On, is a Swiss performance footwear and apparel company headquartered in Zurich. Founded in 2010, the company designs, develops and sells running shoes, performance apparel and accessories for road, trail and everyday use. On’s product philosophy centers on engineered cushioning and responsiveness intended to serve both serious athletes and lifestyle consumers.

On is best known for its proprietary midsole technology and distinctive sole architecture, marketed under names such as the Cloud family of shoes and related performance lines.