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

Telsey Advisory Group reiterated their outperform rating on shares of ON (NYSE:ONON) in a research note released on Tuesday morning,Benzinga reports. The firm currently has a $65.00 price target on the stock.

Other analysts have also issued reports about the stock. Barclays decreased their price target on shares of ON from $69.00 to $60.00 and set an “overweight” rating on the stock in a research report on Thursday, November 13th. Needham & Company LLC reissued a “buy” rating and set a $52.00 target price on shares of ON in a research report on Wednesday, January 28th. Piper Sandler reaffirmed an “overweight” rating on shares of ON in a report on Friday, December 5th. Jefferies Financial Group reiterated an “underperform” rating and issued a $31.00 price objective on shares of ON in a research report on Wednesday, November 12th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of ON in a research report on Thursday, January 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $59.86.

ON Stock Up 2.0%

ONON opened at $47.58 on Tuesday. The business has a 50 day moving average of $46.45 and a 200-day moving average of $44.48. The stock has a market capitalization of $29.88 billion, a price-to-earnings ratio of 61.79, a P/E/G ratio of 1.40 and a beta of 2.15. 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 1-year low of $34.38 and a 1-year high of $61.29.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Sinvest Investments II Ltd. bought a new stake in shares of ON in the 4th quarter worth about $390,432,000. Morgan Stanley grew its stake in ON by 40.9% during the fourth quarter. Morgan Stanley now owns 24,119,871 shares of the company’s stock worth $1,121,092,000 after buying an additional 6,997,455 shares during the last quarter. Winslow Capital Management LLC acquired a new stake in shares of ON during the second quarter worth approximately $248,113,000. Sands Capital Management LLC bought a new position in shares of ON in the second quarter valued at approximately $240,177,000. Finally, FengHe Fund Management Pte. Ltd. bought a new position in shares of ON in the fourth quarter valued at approximately $142,425,000. 36.39% of the stock is owned by institutional investors.

ON Company Profile

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.