Telsey Advisory Group Reaffirms “Outperform” Rating for ON (NYSE:ONON)

ON (NYSE:ONON)‘s stock had its “outperform” rating restated by stock analysts at Telsey Advisory Group in a research report issued on Tuesday,Benzinga reports. They currently have a $65.00 price target on the stock. Telsey Advisory Group’s target price suggests a potential upside of 39.35% from the company’s current price.

ONON has been the topic of a number of other research reports. Zacks Research upgraded ON from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 10th. Stifel Nicolaus set a $60.00 price target on ON in a research report on Wednesday, January 28th. Bank of America lifted their price objective on shares of ON from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Barclays reduced their target price on shares of ON from $69.00 to $60.00 and set an “overweight” rating for the company in a research note on Thursday, November 13th. Finally, BTIG Research reissued a “buy” rating and set a $70.00 price target on shares of ON in a research report on Thursday, January 29th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $59.86.

ON Price Performance

ONON stock opened at $46.65 on Tuesday. 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 has a 50-day simple moving average of $46.47 and a two-hundred day simple moving average of $44.45. The company has a market capitalization of $29.29 billion, a P/E ratio of 60.58, a price-to-earnings-growth ratio of 1.40 and a beta of 2.15. ON has a 52-week low of $34.38 and a 52-week high of $61.29.

Hedge Funds Weigh In On ON

Several institutional investors and hedge funds have recently bought and sold shares of the company. Caitlin John LLC bought a new stake in shares of ON in the fourth quarter valued at $25,000. Cullen Frost Bankers Inc. increased its stake in shares of ON by 639.7% in the fourth quarter. Cullen Frost Bankers Inc. now owns 540 shares of the company’s stock worth $25,000 after purchasing an additional 467 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new stake in shares of ON in the fourth quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of ON by 555.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 701 shares of the company’s stock valued at $33,000 after buying an additional 594 shares in the last quarter. Finally, TD Private Client Wealth LLC boosted its holdings in ON by 109.9% in the 4th quarter. TD Private Client Wealth LLC now owns 804 shares of the company’s stock worth $37,000 after buying an additional 421 shares during the period. 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.