ON (NYSE:ONON) Upgraded by Zacks Research to Strong-Buy Rating

Zacks Research upgraded shares of ON (NYSE:ONON) from a hold rating to a strong-buy rating in a research note issued to investors on Tuesday,Zacks.com reports.

ONON has been the topic of a number of other reports. Williams Trading lowered 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 report on Thursday, January 8th. Telsey Advisory Group reiterated an “outperform” rating and set a $65.00 price target on shares of ON in a research note on Wednesday, January 28th. Guggenheim upgraded ON to a “strong-buy” rating in a research note on Wednesday, December 10th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of ON in a report on Thursday, January 22nd. Finally, Stifel Nicolaus set a $60.00 price target on shares of ON in a report on Wednesday, January 28th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, ON currently has a consensus rating of “Moderate Buy” and an average price target of $59.86.

ON Stock Down 0.2%

NYSE:ONON opened at $45.22 on Tuesday. The company has a current ratio of 2.55, a quick ratio of 2.05 and a debt-to-equity ratio of 0.28. ON has a twelve month low of $34.38 and a twelve month high of $61.29. The company has a market cap of $28.40 billion, a PE ratio of 58.73, a P/E/G ratio of 1.36 and a beta of 2.15. The company’s 50 day moving average is $46.73 and its two-hundred day moving average is $44.55.

Institutional Investors Weigh In On ON

Hedge funds have recently bought and sold shares of the stock. Cullen Frost Bankers Inc. lifted its stake in shares of ON by 639.7% in the 4th quarter. Cullen Frost Bankers Inc. now owns 540 shares of the company’s stock valued at $25,000 after purchasing an additional 467 shares during the period. MidAtlantic Capital Management Inc. purchased a new position in ON in the fourth quarter valued at $27,000. Washington Trust Advisors Inc. purchased a new position in ON in the second quarter valued at $29,000. TD Private Client Wealth LLC raised its position in shares of ON by 109.9% in the fourth quarter. TD Private Client Wealth LLC now owns 804 shares of the company’s stock worth $37,000 after acquiring an additional 421 shares during the period. Finally, Bogart Wealth LLC boosted its stake in shares of ON by 88.9% during the 4th quarter. Bogart Wealth LLC now owns 850 shares of the company’s stock worth $40,000 after acquiring an additional 400 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.