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

ON (NYSE:ONON)‘s stock had its “outperform” rating reaffirmed by research analysts at Telsey Advisory Group in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $67.00 price target on the stock. Telsey Advisory Group’s price objective would suggest a potential upside of 49.02% from the stock’s current price.

Several other research firms have also recently weighed in on ONON. UBS Group upped their price target on shares of ON from $65.00 to $73.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Needham & Company LLC reiterated a “buy” rating and issued a $64.00 price objective on shares of ON in a research note on Tuesday, March 4th. Stifel Nicolaus increased their price objective on shares of ON from $60.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Barclays boosted their target price on shares of ON from $63.00 to $64.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Finally, HSBC upgraded shares of ON from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research report on Tuesday, March 11th. Three research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $60.45.

ON Price Performance

ONON opened at $44.96 on Tuesday. The company has a market cap of $28.31 billion, a price-to-earnings ratio of 104.56, a price-to-earnings-growth ratio of 1.02 and a beta of 2.35. The firm has a 50 day simple moving average of $51.23 and a 200 day simple moving average of $52.58. ON has a fifty-two week low of $29.84 and a fifty-two week high of $64.05.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. MassMutual Private Wealth & Trust FSB bought a new position in shares of ON during the first quarter worth about $32,000. Wealth Enhancement Advisory Services LLC raised its stake in ON by 3.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 18,707 shares of the company’s stock worth $1,025,000 after buying an additional 705 shares during the last quarter. Wealthedge Investment Advisors LLC acquired a new position in ON in the fourth quarter valued at $1,556,000. Park Square Financial Group LLC bought a new stake in ON during the fourth quarter valued at $32,000. Finally, Azzad Asset Management Inc. ADV grew its holdings in ON by 0.4% during the 4th quarter. Azzad Asset Management Inc. ADV now owns 146,393 shares of the company’s stock worth $8,018,000 after acquiring an additional 608 shares during the period. 36.39% of the stock is owned by institutional investors and hedge funds.

ON Company Profile

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.