ON’s (ONON) “Outperform” Rating Reaffirmed at Telsey Advisory Group

Telsey Advisory Group reaffirmed their outperform rating on shares of ON (NYSE:ONON) in a research report released on Wednesday morning, Benzinga reports. The brokerage currently has a $37.00 target price on the stock.

A number of other equities analysts have also weighed in on ONON. Redburn Atlantic restated a neutral rating and set a $34.00 target price on shares of ON in a research report on Thursday, March 7th. TheStreet lowered shares of ON from a c rating to a d+ rating in a research report on Monday, March 18th. Morgan Stanley restated an overweight rating and issued a $32.00 target price on shares of ON in a report on Monday. William Blair started coverage on shares of ON in a report on Tuesday, April 16th. They issued an outperform rating for the company. Finally, Stifel Nicolaus restated a buy rating and issued a $40.00 target price on shares of ON in a report on Tuesday, March 5th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $37.13.

ON Price Performance

Shares of NYSE ONON opened at $32.35 on Wednesday. The firm has a fifty day moving average price of $33.17 and a 200-day moving average price of $29.50. The stock has a market cap of $20.37 billion, a PE ratio of 119.81, a price-to-earnings-growth ratio of 1.14 and a beta of 2.16. ON has a 1 year low of $23.41 and a 1 year high of $37.08.

ON (NYSE:ONON) last issued its earnings results on Tuesday, March 12th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.18). ON had a return on equity of 6.85% and a net margin of 4.04%. The company had revenue of $504.69 million for the quarter, compared to the consensus estimate of $515.30 million. On average, research analysts expect that ON will post 0.65 EPS for the current year.

Institutional Trading of ON

A number of institutional investors have recently modified their holdings of ONON. Spire Wealth Management boosted its holdings in shares of ON by 91.0% in the 3rd quarter. Spire Wealth Management now owns 972 shares of the company’s stock valued at $27,000 after buying an additional 463 shares in the last quarter. Orion Capital Management LLC boosted its stake in ON by 1,100.0% in the 4th quarter. Orion Capital Management LLC now owns 1,200 shares of the company’s stock worth $32,000 after purchasing an additional 1,100 shares in the last quarter. VisionPoint Advisory Group LLC acquired a new stake in ON in the 4th quarter worth approximately $32,000. Global Wealth Management Investment Advisory Inc. acquired a new stake in ON in the 4th quarter worth approximately $33,000. Finally, Asset Dedication LLC acquired a new stake in ON in the 3rd quarter worth approximately $35,000. 33.11% of the stock is currently owned by institutional investors.

About ON

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.