ON (NYSE:ONON) Upgraded at Singular Research

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

A number of other equities research analysts have also commented on the company. TD Cowen raised their price target on ON from $55.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Bank of America increased their target price on ON from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Needham & Company LLC cut their price target on shares of ON from $62.00 to $52.00 and set a “buy” rating on the stock in a research note on Wednesday, November 12th. Barclays reduced their price target 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. Finally, UBS Group raised their price objective on shares of ON from $79.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $61.14.

ON Stock Performance

Shares of ON stock opened at $43.32 on Monday. The stock’s fifty day simple moving average is $41.53 and its 200 day simple moving average is $48.06. 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 has a market capitalization of $27.27 billion, a PE ratio of 56.26, a PEG ratio of 4.75 and a beta of 2.18. ON has a 12 month low of $34.38 and a 12 month high of $64.05.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. TCTC Holdings LLC boosted its stake in shares of ON by 118.4% during the 1st quarter. TCTC Holdings LLC now owns 581 shares of the company’s stock worth $26,000 after buying an additional 315 shares during the last quarter. Washington Trust Advisors Inc. acquired a new position in ON during the second quarter valued at approximately $29,000. Smartleaf Asset Management LLC boosted its position in ON by 3,392.6% during the first quarter. Smartleaf Asset Management LLC now owns 943 shares of the company’s stock valued at $42,000 after purchasing an additional 916 shares during the last quarter. United Financial Planning Group LLC acquired a new position in shares of ON during the 3rd quarter worth approximately $42,000. Finally, Ramirez Asset Management Inc. bought a new stake in shares of ON during the 1st quarter worth approximately $44,000. Institutional investors own 36.39% of the company’s stock.

ON Company Profile

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.