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

Telsey Advisory Group reissued their outperform rating on shares of ON (NYSE:ONON) in a research report report published on Tuesday morning,Benzinga reports. The brokerage currently has a $65.00 price objective on the stock.

ONON has been the subject of a number of other research reports. Williams Trading lowered shares of ON from a “buy” rating to a “hold” rating and dropped their target price for the stock from $55.00 to $47.00 in a report on Thursday, January 8th. Piper Sandler restated an “overweight” rating on shares of ON in a research report on Friday, December 5th. Barclays cut 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. Citigroup lowered shares of ON from a “buy” rating to a “mixed” rating in a research note on Tuesday, October 28th. Finally, JPMorgan Chase & Co. boosted their target price on ON from $71.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, November 13th. 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, ON has a consensus rating of “Moderate Buy” and an average target price of $59.86.

ON Stock Performance

Shares of NYSE:ONON opened at $46.80 on Tuesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.55 and a quick ratio of 2.05. ON has a 1 year low of $34.38 and a 1 year high of $61.29. The firm has a market capitalization of $29.39 billion, a PE ratio of 60.78, a P/E/G ratio of 1.42 and a beta of 2.15. The business’s 50 day moving average price is $46.50 and its 200-day moving average price is $44.44.

Hedge Funds Weigh In On ON

A number of hedge funds have recently modified their holdings of the business. Jacobi Capital Management LLC raised its holdings in ON by 3.6% in the 4th quarter. Jacobi Capital Management LLC now owns 6,875 shares of the company’s stock valued at $320,000 after buying an additional 240 shares during the period. Asset Management One Co. Ltd. increased its position in shares of ON by 1.0% during the second quarter. Asset Management One Co. Ltd. now owns 24,939 shares of the company’s stock valued at $1,298,000 after acquiring an additional 243 shares during the last quarter. Lido Advisors LLC increased its position in shares of ON by 1.2% during the second quarter. Lido Advisors LLC now owns 23,754 shares of the company’s stock valued at $1,236,000 after acquiring an additional 285 shares during the last quarter. Parallel Advisors LLC raised its stake in shares of ON by 2.8% in the 4th quarter. Parallel Advisors LLC now owns 10,455 shares of the company’s stock valued at $486,000 after acquiring an additional 285 shares during the period. Finally, J.W. Cole Advisors Inc. lifted its holdings in shares of ON by 2.4% in the 4th quarter. J.W. Cole Advisors Inc. now owns 12,283 shares of the company’s stock worth $571,000 after acquiring an additional 285 shares during the last quarter. 36.39% of the stock is currently owned by hedge funds and other 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.