ON (NYSE:ONON) Raised to “Strong-Buy” at Singular Research

ON (NYSE:ONON) was upgraded by stock analysts at Singular Research to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

ONON has been the topic of several other research reports. UBS Group upped their price objective on shares of ON from $79.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Raymond James Financial reduced their price objective on ON from $66.00 to $55.00 and set an “outperform” rating for the company in a research report on Tuesday, October 21st. Truist Financial lowered their price target on ON from $69.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, November 10th. Barclays cut their price objective 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. Finally, Needham & Company LLC reduced their target price on shares of ON from $62.00 to $52.00 and set a “buy” rating for the company in a research note on Wednesday, November 12th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given 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, the company currently has a consensus rating of “Moderate Buy” and an average target price of $61.14.

ON Stock Down 3.1%

NYSE ONON traded down $1.32 during trading on Monday, reaching $41.98. 3,000,465 shares of the company’s stock were exchanged, compared to its average volume of 5,853,254. The firm has a market capitalization of $26.43 billion, a PE ratio of 54.39, a P/E/G ratio of 4.75 and a beta of 2.18. ON has a fifty-two week low of $34.38 and a fifty-two week high of $64.05. The company has a current ratio of 2.55, a quick ratio of 2.05 and a debt-to-equity ratio of 0.28. The company’s fifty day simple moving average is $41.53 and its 200-day simple moving average is $48.06.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ONON. Public Employees Retirement System of Ohio grew its holdings in ON by 106.6% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 68,583 shares of the company’s stock worth $3,570,000 after acquiring an additional 35,391 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of ON by 36.8% during the first quarter. PNC Financial Services Group Inc. now owns 11,245 shares of the company’s stock worth $494,000 after purchasing an additional 3,025 shares in the last quarter. Red Spruce Capital LLC lifted its position in shares of ON by 64.8% during the second quarter. Red Spruce Capital LLC now owns 35,566 shares of the company’s stock worth $1,851,000 after purchasing an additional 13,980 shares in the last quarter. Citigroup Inc. grew its stake in shares of ON by 73.1% during the first quarter. Citigroup Inc. now owns 213,127 shares of the company’s stock valued at $9,361,000 after purchasing an additional 89,982 shares during the last quarter. Finally, Bessemer Group Inc. acquired a new stake in shares of ON in the second quarter valued at approximately $43,344,000. 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.