ON (NYSE:ONON) Upgraded by Guggenheim to “Strong-Buy” Rating

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

Other research analysts have also issued reports about the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of ON in a research report on Wednesday, October 8th. Zacks Research upgraded shares of ON from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 11th. UBS Group boosted their target price on ON from $79.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Needham & Company LLC reduced their target price on ON from $62.00 to $52.00 and set a “buy” rating for the company in a report on Wednesday, November 12th. Finally, Raymond James Financial dropped their price target on ON from $66.00 to $55.00 and set an “outperform” rating on the stock in a report on Tuesday, October 21st. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $61.27.

ON Price Performance

Shares of NYSE:ONON opened at $48.70 on Wednesday. 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 stock has a market cap of $30.58 billion, a PE ratio of 63.25, a price-to-earnings-growth ratio of 2.80 and a beta of 2.16. The stock’s fifty day simple moving average is $41.81 and its two-hundred day simple moving average is $46.97. ON has a 1-year low of $34.38 and a 1-year high of $64.05.

Hedge Funds Weigh In On ON

Several institutional investors and hedge funds have recently bought and sold shares of ONON. Ramirez Asset Management Inc. boosted its stake 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 purchasing an additional 200 shares in the last quarter. Asset Management One Co. Ltd. lifted its holdings in ON by 1.0% in the second quarter. Asset Management One Co. Ltd. now owns 24,939 shares of the company’s stock worth $1,298,000 after buying an additional 243 shares during the period. Lido Advisors LLC lifted its holdings in ON by 1.2% in the second quarter. Lido Advisors LLC now owns 23,754 shares of the company’s stock worth $1,236,000 after buying an additional 285 shares during the period. Sterling Investment Counsel LLC boosted its position 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 in the last quarter. Finally, Parsons Capital Management Inc. RI grew its holdings in shares of ON by 4.3% during the 3rd quarter. Parsons Capital Management Inc. RI now owns 7,238 shares of the company’s stock worth $307,000 after acquiring an additional 300 shares during the period. 36.39% of the stock is owned by institutional investors.

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.