ON (NYSE:ONON) Receives “Outperform” Rating from Telsey Advisory Group

Telsey Advisory Group reiterated their outperform rating on shares of ON (NYSE:ONON) in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has a $65.00 price target on the stock.

Other equities research analysts have also recently issued reports about the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of ON in a research report on Thursday, January 22nd. Williams Trading cut shares of ON from a “buy” rating to a “hold” rating and cut their price target for the company from $55.00 to $47.00 in a research report on Thursday, January 8th. Bank of America lifted their price objective on ON from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Morgan Stanley boosted their price objective on ON from $65.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, November 13th. Finally, BTIG Research restated a “buy” rating and set a $70.00 target price on shares of ON in a research report on Tuesday, November 4th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $59.86.

ON Price Performance

ON stock opened at $44.89 on Wednesday. The stock’s 50 day moving average is $46.48 and its 200 day moving average is $45.10. ON has a one year low of $34.38 and a one year high of $64.05. The firm has a market cap of $28.19 billion, a P/E ratio of 58.30, a P/E/G ratio of 1.37 and a beta of 2.15. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.55 and a quick ratio of 2.05.

Institutional Trading of ON

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Winslow Capital Management LLC acquired a new stake in ON in the second quarter valued at approximately $248,113,000. Sands Capital Management LLC bought a new position in shares of ON in the 2nd quarter worth $240,177,000. Norges Bank acquired a new stake in ON in the 2nd quarter valued at $138,641,000. Ameriprise Financial Inc. increased its stake in ON by 4,564.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,291,611 shares of the company’s stock valued at $119,752,000 after purchasing an additional 2,242,480 shares in the last quarter. Finally, State Street Corp increased its stake in ON by 765.4% during the 2nd quarter. State Street Corp now owns 2,219,015 shares of the company’s stock valued at $115,500,000 after purchasing an additional 1,962,586 shares in the last quarter. 36.39% of the stock is 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.