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

ON (NYSE:ONON)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Telsey Advisory Group in a report issued on Wednesday,Benzinga reports. They presently have a $65.00 target price on the stock. Telsey Advisory Group’s price target indicates a potential upside of 42.22% from the stock’s previous close.

ONON has been the topic of a number of other reports. Williams Trading downgraded shares of ON from a “buy” rating to a “hold” rating and dropped their price objective for the company from $55.00 to $47.00 in a research note on Thursday, January 8th. Needham & Company LLC lowered their price objective on ON from $62.00 to $52.00 and set a “buy” rating for the company in a research report on Wednesday, November 12th. Evercore ISI decreased their price target on ON from $68.00 to $50.00 and set an “outperform” rating for the company in a research note on Monday, November 10th. BTIG Research reissued a “buy” rating and set a $70.00 price objective on shares of ON in a report on Tuesday, November 4th. Finally, TD Cowen boosted their target price on shares of ON from $55.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $60.14.

ON Price Performance

NYSE ONON opened at $45.71 on Wednesday. The company has a market capitalization of $28.70 billion, a PE ratio of 59.67, a price-to-earnings-growth ratio of 1.39 and a beta of 2.15. 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’s fifty day moving average is $46.45 and its 200 day moving average is $45.10. ON has a fifty-two week low of $34.38 and a fifty-two week high of $64.05.

Institutional Investors Weigh In On ON

Several large investors have recently bought and sold shares of the stock. Sands Capital Management LLC lifted its position in ON by 46.7% during the 3rd quarter. Sands Capital Management LLC now owns 6,769,430 shares of the company’s stock worth $286,685,000 after acquiring an additional 2,155,083 shares during the period. Winslow Capital Management LLC purchased a new position in ON in the 2nd quarter valued at $248,113,000. Bamco Inc. NY increased its stake in ON by 14.7% in the 3rd quarter. Bamco Inc. NY now owns 4,746,553 shares of the company’s stock valued at $201,017,000 after buying an additional 606,579 shares during the period. American Century Companies Inc. raised its position in ON by 9.9% during the 3rd quarter. American Century Companies Inc. now owns 4,058,475 shares of the company’s stock worth $171,876,000 after buying an additional 365,907 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of ON by 44.8% in the third quarter. Ameriprise Financial Inc. now owns 3,318,415 shares of the company’s stock valued at $138,865,000 after acquiring an additional 1,026,804 shares in the last quarter. Hedge funds and other 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.