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Weiss Ratings Reaffirms Sell (D+) Rating for ON (NYSE:ONON)

ON logo with Retail/Wholesale background

Key Points

  • Weiss Ratings has restated a "sell (D+)" rating for ONON, indicating ongoing concerns about the stock's performance.
  • Barclays raised its price target for ON from $68 to $69, while other analysts, including UBS and Morgan Stanley, issued higher price targets and buy ratings.
  • ONON's market cap stands at $27.38 billion, with a current average price target of $64.20 derived from various analysts' ratings.
  • MarketBeat previews top five stocks to own in November.

ON (NYSE:ONON - Get Free Report)'s stock had its "sell (d+)" rating restated by research analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

ONON has been the subject of several other reports. Barclays raised their price target on ON from $68.00 to $69.00 and gave the company an "overweight" rating in a report on Wednesday, August 13th. Telsey Advisory Group reiterated an "outperform" rating and issued a $65.00 target price on shares of ON in a report on Thursday, August 7th. UBS Group lifted their target price on ON from $75.00 to $79.00 and gave the stock a "buy" rating in a research report on Wednesday, August 13th. Morgan Stanley upped their target price on ON from $62.00 to $65.00 and gave the company an "overweight" rating in a report on Wednesday, August 13th. Finally, Raymond James Financial downgraded ON from a "strong-buy" rating to an "outperform" rating and set a $66.00 target price for the company. in a research report on Tuesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, ON currently has an average rating of "Moderate Buy" and an average price target of $64.20.

View Our Latest Stock Analysis on ONON

ON Trading Down 0.3%

ONON opened at $43.49 on Wednesday. ON has a one year low of $34.59 and a one year high of $64.05. The company has a market cap of $27.38 billion, a P/E ratio of 96.80, a PEG ratio of 5.18 and a beta of 2.19. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.00 and a current ratio of 2.53. The business's 50-day simple moving average is $44.82 and its 200-day simple moving average is $48.76.

Institutional Trading of ON

Several hedge funds have recently modified their holdings of ONON. Public Employees Retirement System of Ohio increased its holdings in shares of ON by 106.6% in the second quarter. Public Employees Retirement System of Ohio now owns 68,583 shares of the company's stock valued at $3,570,000 after purchasing an additional 35,391 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in ON by 36.8% in the first quarter. PNC Financial Services Group Inc. now owns 11,245 shares of the company's stock valued at $494,000 after acquiring an additional 3,025 shares during the last quarter. Citigroup Inc. boosted its stake in ON by 73.1% in the first quarter. Citigroup Inc. now owns 213,127 shares of the company's stock valued at $9,361,000 after acquiring an additional 89,982 shares during the last quarter. Red Spruce Capital LLC boosted its stake in ON by 64.8% in the second quarter. Red Spruce Capital LLC now owns 35,566 shares of the company's stock valued at $1,851,000 after acquiring an additional 13,980 shares during the last quarter. Finally, Kestra Private Wealth Services LLC boosted its stake in ON by 151.2% in the first quarter. Kestra Private Wealth Services LLC now owns 18,878 shares of the company's stock valued at $829,000 after acquiring an additional 11,362 shares during the last quarter. Institutional investors and hedge funds own 36.39% of the company's stock.

ON Company Profile

(Get Free Report)

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.

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Analyst Recommendations for ON (NYSE:ONON)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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