ON (NYSE:ONON) Upgraded at Zacks Research

Zacks Research upgraded shares of ON (NYSE:ONON) from a hold rating to a strong-buy rating in a research report sent to investors on Tuesday,Zacks.com reports.

ONON has been the topic of several other research reports. Bank of America lifted their target price on ON from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Truist Financial lowered their price target on shares of ON from $69.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, November 10th. Williams Trading downgraded shares of ON from a “buy” rating to a “hold” rating and cut their price objective for the stock from $55.00 to $47.00 in a research report on Thursday, January 8th. Weiss Ratings reissued a “sell (d+)” rating on shares of ON in a research report on Thursday, January 22nd. Finally, Citigroup downgraded shares of ON from a “buy” rating to a “mixed” rating in a research note on Tuesday, October 28th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, ON has a consensus rating of “Moderate Buy” and an average price target of $59.86.

ON Trading Down 2.2%

Shares of NYSE:ONON opened at $44.28 on Tuesday. ON has a 12-month low of $34.38 and a 12-month high of $61.29. The business’s fifty day simple moving average is $46.68 and its 200-day simple moving average is $44.55. The company has a market capitalization of $27.81 billion, a PE ratio of 57.51, a P/E/G ratio of 1.36 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.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Cullen Frost Bankers Inc. lifted its position in ON by 639.7% during the fourth quarter. Cullen Frost Bankers Inc. now owns 540 shares of the company’s stock valued at $25,000 after purchasing an additional 467 shares during the period. Washington Trust Advisors Inc. acquired a new stake in ON during the 2nd quarter worth about $29,000. MidAtlantic Capital Management Inc. purchased a new position in shares of ON during the 4th quarter valued at about $27,000. TD Private Client Wealth LLC raised its stake in shares of ON by 109.9% during the 4th quarter. TD Private Client Wealth LLC now owns 804 shares of the company’s stock valued at $37,000 after buying an additional 421 shares during the last quarter. Finally, Bogart Wealth LLC lifted its holdings in shares of ON by 88.9% in the 4th quarter. Bogart Wealth LLC now owns 850 shares of the company’s stock valued at $40,000 after buying an additional 400 shares during the period. Institutional investors and hedge funds 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.