ON’s (ONON) “Buy” Rating Reaffirmed at BTIG Research

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

ONON has been the topic of several other reports. Stifel Nicolaus set a $60.00 target price on ON in a research report on Wednesday. Raymond James Financial lowered their price target on ON from $66.00 to $55.00 and set an “outperform” rating on the stock in a report on Tuesday, October 21st. Barclays reduced their price objective on shares of ON from $69.00 to $60.00 and set an “overweight” rating for the company in a report on Thursday, November 13th. TD Cowen boosted their price target on shares of ON from $55.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Finally, JPMorgan Chase & Co. increased their price objective on shares of ON from $71.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, November 13th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $59.86.

ON Trading Down 1.4%

ON stock opened at $44.89 on Thursday. The firm has a 50-day moving average price of $46.48 and a two-hundred day moving average price of $45.10. ON has a 52-week low of $34.38 and a 52-week high of $64.05. The firm has a market capitalization of $28.19 billion, a price-to-earnings ratio of 58.30, a PEG ratio of 1.37 and a beta of 2.15. The company has a quick ratio of 2.05, a current ratio of 2.55 and a debt-to-equity ratio of 0.28.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Bison Wealth LLC grew its holdings in shares of ON by 35.7% in the 4th quarter. Bison Wealth LLC now owns 9,291 shares of the company’s stock worth $509,000 after acquiring an additional 2,442 shares during the last quarter. Truist Financial Corp increased its position in shares of ON by 206.1% in the second quarter. Truist Financial Corp now owns 27,049 shares of the company’s stock worth $1,408,000 after acquiring an additional 18,211 shares in the last quarter. Ninety One UK Ltd acquired a new stake in shares of ON during the second quarter valued at approximately $9,800,000. Robeco Institutional Asset Management B.V. purchased a new stake in shares of ON in the 2nd quarter valued at approximately $41,208,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in ON in the 2nd quarter worth approximately $152,000. Institutional investors own 36.39% of the company’s stock.

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.