ON (NYSE:ONON) Given “Buy” Rating at Needham & Company LLC

ON (NYSE:ONON)‘s stock had its “buy” rating reaffirmed by Needham & Company LLC in a note issued to investors on Wednesday,Benzinga reports. They presently have a $52.00 price objective on the stock. Needham & Company LLC’s price target suggests a potential upside of 16.54% from the stock’s previous close.

ONON has been the subject of several other research reports. Jefferies Financial Group reiterated an “underperform” rating and set a $31.00 target price on shares of ON in a research note on Wednesday, November 12th. Bank of America increased their price target on ON from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Weiss Ratings restated a “sell (d+)” rating on shares of ON in a research report on Thursday, January 22nd. Singular Research raised ON to a “strong-buy” rating in a research report on Monday, November 17th. Finally, The Goldman Sachs Group boosted their price target on shares of ON from $50.00 to $52.00 and gave the company a “neutral” rating in a report on Thursday, November 13th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $59.86.

ON Stock Down 2.0%

NYSE ONON traded down $0.90 on Wednesday, hitting $44.62. 2,057,285 shares of the stock traded hands, compared to its average volume of 4,868,065. The company has a current ratio of 2.55, a quick ratio of 2.05 and a debt-to-equity ratio of 0.28. The stock has a 50-day moving average of $46.45 and a 200 day moving average of $45.10. ON has a twelve month low of $34.38 and a twelve month high of $64.05. The company has a market capitalization of $28.02 billion, a P/E ratio of 58.14, a price-to-earnings-growth ratio of 1.39 and a beta of 2.15.

Institutional Investors Weigh In On ON

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ramirez Asset Management Inc. grew its position in ON by 20.0% in the 2nd quarter. Ramirez Asset Management Inc. now owns 1,200 shares of the company’s stock valued at $62,000 after buying an additional 200 shares in the last quarter. Asset Management One Co. Ltd. boosted its holdings in shares of ON by 1.0% in the second quarter. Asset Management One Co. Ltd. now owns 24,939 shares of the company’s stock valued at $1,298,000 after acquiring an additional 243 shares in the last quarter. Lido Advisors LLC increased its stake in shares of ON by 1.2% during the second quarter. Lido Advisors LLC now owns 23,754 shares of the company’s stock valued at $1,236,000 after acquiring an additional 285 shares during the period. Sterling Investment Counsel LLC increased its stake in shares of ON by 5.5% during the second quarter. Sterling Investment Counsel LLC now owns 5,750 shares of the company’s stock valued at $299,000 after acquiring an additional 300 shares during the period. Finally, Parsons Capital Management Inc. RI lifted its position in ON by 4.3% in the third quarter. Parsons Capital Management Inc. RI now owns 7,238 shares of the company’s stock worth $307,000 after purchasing an additional 300 shares during the period. 36.39% of the stock is currently owned by institutional investors.

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.