ON (NYSE:ONON) Receives “Buy” Rating from BTIG Research

ON (NYSE:ONON)‘s stock had its “buy” rating reissued by equities researchers at BTIG Research in a research note issued to investors on Thursday,Benzinga reports. They presently have a $70.00 target price on the stock. BTIG Research’s target price would indicate a potential upside of 55.95% from the stock’s current price.

A number of other brokerages also recently commented on ONON. Bank of America boosted their price objective on shares of ON from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of ON in a research note on Thursday, January 22nd. Stifel Nicolaus set a $60.00 price objective on ON in a report on Wednesday. Piper Sandler restated an “overweight” rating on shares of ON in a research note on Friday, December 5th. Finally, Citigroup downgraded ON from a “buy” rating to a “mixed” rating in a research note on Tuesday, October 28th. Three equities research 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. According to MarketBeat, ON currently has an average rating of “Moderate Buy” and a consensus price target of $59.86.

ON Trading Down 1.4%

Shares of NYSE ONON opened at $44.89 on Thursday. 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 one year low of $34.38 and a one year high of $64.05. The business has a 50-day moving average price of $46.48 and a two-hundred day moving average price of $45.10. The firm has a market capitalization of $28.19 billion, a PE ratio of 58.30, a PEG ratio of 1.37 and a beta of 2.15.

Institutional Investors Weigh In On ON

A number of large investors have recently added to or reduced their stakes in ONON. Sands Capital Management LLC grew its holdings in ON by 46.7% during the third quarter. Sands Capital Management LLC now owns 6,769,430 shares of the company’s stock valued at $286,685,000 after purchasing an additional 2,155,083 shares during the last quarter. Winslow Capital Management LLC bought a new stake in shares of ON during the 2nd quarter worth $248,113,000. Bamco Inc. NY grew its stake in ON by 14.7% in the 3rd quarter. Bamco Inc. NY now owns 4,746,553 shares of the company’s stock valued at $201,017,000 after buying an additional 606,579 shares during the last quarter. American Century Companies Inc. raised its holdings in ON by 9.9% in the 3rd quarter. American Century Companies Inc. now owns 4,058,475 shares of the company’s stock worth $171,876,000 after acquiring an additional 365,907 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in ON by 44.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,318,415 shares of the company’s stock worth $138,865,000 after acquiring an additional 1,026,804 shares during the last quarter. 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.