ON’s (ONON) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of ON (NYSE:ONON) in a research report report published on Wednesday morning,Benzinga reports. Needham & Company LLC currently has a $52.00 price objective on the stock.

A number of other analysts also recently issued reports on ONON. UBS Group reaffirmed a “buy” rating on shares of ON in a report on Monday, January 5th. BTIG Research restated a “buy” rating and issued a $70.00 target price on shares of ON in a report on Tuesday, November 4th. Bank of America lifted their target price on shares of ON from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Weiss Ratings reissued a “sell (d+)” rating on shares of ON in a report on Thursday, January 22nd. Finally, Morgan Stanley lifted their price objective on ON from $65.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday, November 13th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $59.86.

ON Trading Up 0.4%

Shares of NYSE:ONON opened at $45.19 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.55 and a quick ratio of 2.05. ON has a 1 year low of $34.38 and a 1 year high of $61.70. The company has a market cap of $28.38 billion, a P/E ratio of 58.69, a PEG ratio of 1.35 and a beta of 2.15. The stock’s fifty day moving average price is $46.63 and its 200-day moving average price is $45.04.

Hedge Funds Weigh In On ON

A number of institutional investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio lifted its holdings in ON by 106.6% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 68,583 shares of the company’s stock worth $3,570,000 after purchasing an additional 35,391 shares in the last quarter. Norges Bank bought a new stake in shares of ON during the second quarter valued at approximately $138,641,000. Bessemer Group Inc. purchased a new position in shares of ON in the second quarter worth $43,344,000. Allianz Asset Management GmbH bought a new position in shares of ON during the second quarter worth $3,321,000. Finally, Great Point Wealth Advisors LLC purchased a new position in ON during the third quarter valued at $1,607,000. 36.39% of the stock is owned by institutional investors.

ON Company Profile

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.