ON (NYSE:ONON) Earns Buy Rating from BTIG Research

ON (NYSE:ONON)‘s stock had its “buy” rating reissued by equities researchers at BTIG Research in a research note issued to investors on Thursday,Benzinga reports. They presently have a $70.00 target price on the stock. BTIG Research’s price target points to a potential upside of 54.90% from the stock’s current price.

A number of other equities analysts have also issued reports on ONON. 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 note on Thursday, November 13th. TD Cowen increased their price objective on ON from $55.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, November 13th. UBS Group restated a “buy” rating on shares of ON in a research note on Monday, January 5th. Truist Financial decreased their target price on ON from $69.00 to $60.00 and set a “buy” rating for the company in a report on Monday, November 10th. Finally, Guggenheim upgraded shares of ON to a “strong-buy” rating in a report on Wednesday, December 10th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $59.86.

ON Trading Up 0.4%

Shares of ON stock opened at $45.19 on Thursday. The firm’s 50 day simple moving average is $46.63 and its two-hundred day simple moving average is $45.04. The firm has a market capitalization of $28.38 billion, a price-to-earnings ratio of 58.69, a PEG ratio of 1.35 and a beta of 2.15. ON has a 12-month low of $34.38 and a 12-month high of $61.70. The company has a current ratio of 2.55, a quick ratio of 2.05 and a debt-to-equity ratio of 0.28.

Institutional Trading of ON

A number of hedge funds have recently added to or reduced their stakes in ONON. Sands Capital Management LLC grew its position in ON by 46.7% during the third quarter. Sands Capital Management LLC now owns 6,769,430 shares of the company’s stock valued at $286,685,000 after buying an additional 2,155,083 shares during the period. Winslow Capital Management LLC purchased a new stake in shares of ON during the 2nd quarter worth about $248,113,000. Bamco Inc. NY grew its position in shares of ON by 14.7% during the 3rd quarter. Bamco Inc. NY now owns 4,746,553 shares of the company’s stock valued at $201,017,000 after acquiring an additional 606,579 shares during the period. American Century Companies Inc. increased its stake in shares of ON by 9.9% in the 3rd quarter. American Century Companies Inc. now owns 4,058,475 shares of the company’s stock valued at $171,876,000 after purchasing an additional 365,907 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in ON by 44.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,318,415 shares of the company’s stock worth $138,865,000 after purchasing an additional 1,026,804 shares during the period. 36.39% of the stock is owned by hedge funds and other 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.