ON (NYSE:ONON - Get Free Report) was upgraded by stock analysts at Raymond James Financial from an "outperform" rating to a "strong-buy" rating in a research report issued on Thursday, MarketBeat Ratings reports. The brokerage currently has a $52.00 price target on the stock. Raymond James Financial's price objective indicates a potential upside of 42.22% from the stock's current price.
A number of other brokerages have also issued reports on ONON. Barclays decreased their target price on shares of ON from $60.00 to $57.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 4th. BTIG Research restated a "buy" rating and set a $70.00 target price on shares of ON in a research report on Tuesday, March 3rd. Williams Trading lowered shares of ON from a "buy" rating to a "hold" rating and decreased their target price for the stock from $55.00 to $47.00 in a research report on Thursday, January 8th. UBS Group restated a "buy" rating on shares of ON in a research report on Thursday, February 19th. Finally, Guggenheim dropped their price target on shares of ON from $59.00 to $51.00 and set a "buy" rating for the company in a research report on Wednesday, March 4th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, ON currently has a consensus rating of "Moderate Buy" and a consensus target price of $58.48.
View Our Latest Analysis on ONON
ON Stock Performance
Shares of ONON opened at $36.56 on Thursday. The company has a current ratio of 2.71, a quick ratio of 2.13 and a debt-to-equity ratio of 0.27. The stock has a market cap of $23.33 billion, a P/E ratio of 50.78, a PEG ratio of 0.74 and a beta of 2.23. The company has a 50-day moving average of $39.48 and a two-hundred day moving average of $42.51. ON has a 12-month low of $31.41 and a 12-month high of $61.29.
Insider Activity
In other news, CEO Martin Hoffmann sold 4,150 shares of the stock in a transaction on Monday, April 20th. The shares were sold at an average price of $36.56, for a total value of $151,724.00. Following the completion of the sale, the chief executive officer owned 1,389,249 shares of the company's stock, valued at $50,790,943.44. This represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 16,600 shares of company stock valued at $597,102 over the last ninety days. 68.57% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On ON
Several large investors have recently made changes to their positions in ONON. Cullen Frost Bankers Inc. increased its position in shares of ON by 639.7% in the fourth quarter. Cullen Frost Bankers Inc. now owns 540 shares of the company's stock worth $25,000 after acquiring an additional 467 shares in the last quarter. Caitlin John LLC acquired a new stake in shares of ON in the fourth quarter worth $25,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of ON in the fourth quarter worth $27,000. Caitong International Asset Management Co. Ltd increased its position in shares of ON by 555.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 701 shares of the company's stock worth $33,000 after acquiring an additional 594 shares in the last quarter. Finally, TD Private Client Wealth LLC boosted its stake in shares of ON by 109.9% in the fourth quarter. TD Private Client Wealth LLC now owns 804 shares of the company's stock valued at $37,000 after purchasing an additional 421 shares during the period. Institutional investors and hedge funds own 36.39% of the company's stock.
About ON
(
Get Free Report)
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.
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