Telsey Advisory Group Reaffirms “Outperform” Rating for ON (NYSE:ONON)

Telsey Advisory Group restated their outperform rating on shares of ON (NYSE:ONON) in a research note published on Tuesday morning,Benzinga reports. The brokerage currently has a $53.00 price objective on the stock.

Other analysts have also issued reports about the stock. Morgan Stanley upped their price target on shares of ON from $44.00 to $46.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Truist Financial lifted their price target on ON from $51.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Barclays upped their price objective on ON from $40.00 to $47.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Bank of America raised ON from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $21.00 to $55.00 in a report on Monday, September 23rd. Finally, TD Cowen upped their price target on shares of ON from $50.00 to $58.00 and gave the company a “buy” rating in a report on Monday, September 30th. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, ON presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.37.

ON Price Performance

Shares of ON stock opened at $52.63 on Tuesday. ON has a 1-year low of $24.15 and a 1-year high of $54.00. The company has a market capitalization of $33.14 billion, a P/E ratio of 99.30 and a beta of 2.25. The business’s fifty day moving average price is $49.10 and its two-hundred day moving average price is $42.90.

ON (NYSE:ONON) last issued its quarterly earnings data on Tuesday, August 13th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). The company had revenue of $627.66 million for the quarter, compared to the consensus estimate of $634.43 million. ON had a net margin of 7.42% and a return on equity of 13.02%. On average, research analysts expect that ON will post 0.75 earnings per share for the current fiscal year.

Institutional Trading of ON

A number of hedge funds have recently made changes to their positions in the stock. Ameritas Advisory Services LLC grew its position in ON by 1.3% during the second quarter. Ameritas Advisory Services LLC now owns 23,806 shares of the company’s stock valued at $924,000 after purchasing an additional 300 shares in the last quarter. Capital Advisors Inc. OK boosted its stake in shares of ON by 5.1% during the 3rd quarter. Capital Advisors Inc. OK now owns 6,186 shares of the company’s stock valued at $310,000 after buying an additional 301 shares during the period. Artemis Investment Management LLP grew its holdings in shares of ON by 1.9% during the 2nd quarter. Artemis Investment Management LLP now owns 16,410 shares of the company’s stock valued at $637,000 after acquiring an additional 302 shares in the last quarter. Crossmark Global Holdings Inc. increased its stake in shares of ON by 3.2% in the second quarter. Crossmark Global Holdings Inc. now owns 10,423 shares of the company’s stock worth $404,000 after acquiring an additional 325 shares during the last quarter. Finally, Asset Dedication LLC raised its holdings in shares of ON by 25.8% during the second quarter. Asset Dedication LLC now owns 1,592 shares of the company’s stock worth $62,000 after acquiring an additional 327 shares in the last quarter. 33.11% of the stock is owned by hedge funds and other institutional investors.

ON Company Profile

On Holding AG engages in the development and distribution of sports products worldwide. The company offers athletic footwear, apparel, and accessories for high-performance running, outdoor, training, all-day activities, and tennis. It offers its products through independent retailers and distributors, online, and stores.