ON (NYSE:ONON) Upgraded at Singular Research

Singular Research upgraded shares of ON (NYSE:ONON) to a strong-buy rating in a report released on Monday,Zacks.com reports.

ONON has been the subject of a number of other research reports. TD Cowen increased their price objective on shares of ON from $55.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, November 13th. BTIG Research reaffirmed a “buy” rating and issued a $70.00 price target on shares of ON in a report on Tuesday, November 4th. Piper Sandler lowered their price objective on ON from $65.00 to $55.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. Barclays dropped their target price on ON from $69.00 to $60.00 and set an “overweight” rating for the company in a report on Thursday, November 13th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of ON in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $61.14.

ON Price Performance

Shares of NYSE ONON traded down $1.19 during mid-day trading on Monday, reaching $42.11. The company’s stock had a trading volume of 3,115,912 shares, compared to its average volume of 5,853,254. The stock has a 50-day moving average of $41.53 and a two-hundred day moving average of $48.06. 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 stock has a market capitalization of $26.51 billion, a P/E ratio of 54.63, a P/E/G ratio of 4.75 and a beta of 2.18. ON has a 1-year low of $34.38 and a 1-year high of $64.05.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ONON. Bison Wealth LLC lifted its holdings in ON by 35.7% during the 4th quarter. Bison Wealth LLC now owns 9,291 shares of the company’s stock worth $509,000 after buying an additional 2,442 shares during the last quarter. CWM LLC raised its holdings in ON by 22.2% during the first quarter. CWM LLC now owns 1,259 shares of the company’s stock worth $55,000 after purchasing an additional 229 shares in the last quarter. Private Advisor Group LLC lifted its position in shares of ON by 31.2% during the 1st quarter. Private Advisor Group LLC now owns 11,328 shares of the company’s stock worth $498,000 after buying an additional 2,692 shares during the last quarter. Kestra Private Wealth Services LLC raised its stake in ON by 151.2% during the 1st quarter. Kestra Private Wealth Services LLC now owns 18,878 shares of the company’s stock worth $829,000 after acquiring an additional 11,362 shares in the last quarter. Finally, Wedbush Securities Inc. grew its holdings in shares of ON by 9.2% during the first quarter. Wedbush Securities Inc. now owns 20,166 shares of the company’s stock worth $886,000 after purchasing an additional 1,700 shares during the last quarter. Hedge funds and other institutional investors own 36.39% of the company’s stock.

ON Company Profile

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.