Telsey Advisory Group Reiterates Outperform Rating for ON (NYSE:ONON)

Telsey Advisory Group reaffirmed their outperform rating on shares of ON (NYSE:ONON) in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has a $67.00 price objective on the stock.

ONON has been the subject of a number of other reports. Raymond James raised shares of ON from an “outperform” rating to a “strong-buy” rating and increased their price target for the company from $58.00 to $63.00 in a research report on Thursday, November 21st. Truist Financial upped their target price on ON from $58.00 to $61.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. KeyCorp upped their price objective on shares of ON from $47.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, September 26th. Stifel Nicolaus upped their price target on shares of ON from $60.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Finally, TD Cowen lifted their price objective on ON from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Four analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, ON currently has a consensus rating of “Moderate Buy” and an average price target of $58.50.

ON Price Performance

NYSE:ONON opened at $54.48 on Wednesday. The company has a 50-day moving average of $55.75 and a 200 day moving average of $48.55. ON has a 1-year low of $26.03 and a 1-year high of $60.12. The firm has a market cap of $34.30 billion, a PE ratio of 126.70, a price-to-earnings-growth ratio of 1.16 and a beta of 2.30.

Institutional Investors Weigh In On ON

Several institutional investors have recently bought and sold shares of ONON. 1832 Asset Management L.P. raised its holdings in shares of ON by 66,838.9% during the second quarter. 1832 Asset Management L.P. now owns 2,409,800 shares of the company’s stock valued at $93,500,000 after acquiring an additional 2,406,200 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of ON during the second quarter worth approximately $27,975,000. Kayne Anderson Rudnick Investment Management LLC raised its stake in ON by 100.7% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,281,339 shares of the company’s stock valued at $49,716,000 after purchasing an additional 642,894 shares during the last quarter. Cerity Partners LLC lifted its holdings in ON by 189.9% in the 3rd quarter. Cerity Partners LLC now owns 719,493 shares of the company’s stock valued at $36,083,000 after purchasing an additional 471,323 shares in the last quarter. Finally, Lord Abbett & CO. LLC lifted its holdings in ON by 338.3% in the 3rd quarter. Lord Abbett & CO. LLC now owns 594,901 shares of the company’s stock valued at $29,834,000 after purchasing an additional 459,157 shares in the last quarter. 36.39% of the stock is currently owned by institutional investors and hedge funds.

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, and all-day activities. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own high-end stores.