ON’s (ONON) Outperform Rating Reiterated at Telsey Advisory Group

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

Other analysts have also issued research reports about the company. JPMorgan Chase & Co. upped their target price on ON from $71.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, November 13th. Zacks Research cut ON from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. Morgan Stanley lifted their target price on ON from $65.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, November 13th. KeyCorp reduced their target price on shares of ON from $68.00 to $58.00 and set an “overweight” rating for the company in a report on Thursday, January 22nd. Finally, BTIG Research restated a “buy” rating and issued a $70.00 price target on shares of ON in a report on Tuesday, November 4th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, ON presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.86.

ON Trading Up 0.4%

NYSE ONON opened at $45.19 on Wednesday. ON has a one year low of $34.38 and a one year high of $61.70. 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 company has a market capitalization of $28.38 billion, a price-to-earnings ratio of 58.69, a price-to-earnings-growth ratio of 1.35 and a beta of 2.15. The company’s 50-day simple moving average is $46.63 and its two-hundred day simple moving average is $45.04.

Institutional Investors Weigh In On ON

Several institutional investors and hedge funds have recently made changes to their positions in ONON. Sands Capital Management LLC increased its position in shares of ON by 46.7% in the 3rd quarter. Sands Capital Management LLC now owns 6,769,430 shares of the company’s stock valued at $286,685,000 after acquiring an additional 2,155,083 shares during the period. Winslow Capital Management LLC acquired a new position in shares of ON in the second quarter valued at about $248,113,000. Bamco Inc. NY raised its stake in shares of ON by 14.7% in the third quarter. Bamco Inc. NY now owns 4,746,553 shares of the company’s stock worth $201,017,000 after purchasing an additional 606,579 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of ON by 9.9% during the third quarter. American Century Companies Inc. now owns 4,058,475 shares of the company’s stock worth $171,876,000 after purchasing an additional 365,907 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in 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 buying an additional 1,026,804 shares during the last quarter. 36.39% of the stock is currently owned by institutional investors and hedge funds.

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.