TD Cowen Has Lowered Expectations for ON (NYSE:ONON) Stock Price

ON (NYSE:ONON) had its price objective lowered by TD Cowen from $63.00 to $55.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. TD Cowen’s price objective would suggest a potential upside of 32.40% from the stock’s current price.

Several other equities research analysts have also issued reports on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of ON in a report on Wednesday, October 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $62.00 price objective on shares of ON in a report on Tuesday, August 12th. Morgan Stanley increased their target price on ON from $62.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, August 13th. UBS Group raised their price target on ON from $75.00 to $79.00 and gave the stock a “buy” rating in a research report on Wednesday, August 13th. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $65.00 target price on shares of ON in a research report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, ON has a consensus rating of “Moderate Buy” and an average target price of $63.65.

ON Trading Down 1.5%

ON stock opened at $41.54 on Tuesday. The firm has a 50 day moving average of $44.32 and a 200 day moving average of $48.61. The firm has a market capitalization of $26.16 billion, a price-to-earnings ratio of 92.32, a P/E/G ratio of 5.24 and a beta of 2.19. ON has a 12-month low of $34.59 and a 12-month high of $64.05. The company has a current ratio of 2.53, a quick ratio of 2.00 and a debt-to-equity ratio of 0.31.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Ramirez Asset Management Inc. lifted its position in shares of ON by 20.0% during the 2nd quarter. Ramirez Asset Management Inc. now owns 1,200 shares of the company’s stock valued at $62,000 after buying an additional 200 shares in the last quarter. CWM LLC grew its holdings in shares of ON by 22.2% during the 1st quarter. CWM LLC now owns 1,259 shares of the company’s stock worth $55,000 after purchasing an additional 229 shares during the period. Asset Management One Co. Ltd. boosted its holdings in ON by 1.0% during the 2nd 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 period. Lido Advisors LLC boosted its holdings in ON by 1.2% during the 2nd 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 period. Finally, Sterling Investment Counsel LLC boosted its holdings in ON by 5.5% during the 2nd quarter. Sterling Investment Counsel LLC now owns 5,750 shares of the company’s stock valued at $299,000 after acquiring an additional 300 shares during the period. Hedge funds and other institutional investors own 36.39% of the company’s stock.

About ON

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.