ON (NYSE:ONON) Receives “Outperform” Rating from Telsey Advisory Group

ON (NYSE:ONON)‘s stock had its “outperform” rating reiterated by equities research analysts at Telsey Advisory Group in a report issued on Tuesday,Benzinga reports. They currently have a $65.00 target price on the stock. Telsey Advisory Group’s price objective suggests a potential upside of 13.32% from the stock’s previous close.

ONON has been the subject of a number of other reports. Williams Trading lifted their price target on shares of ON from $60.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Hsbc Global Res upgraded shares of ON from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 11th. Stifel Nicolaus dropped their price target on shares of ON from $66.00 to $57.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Needham & Company LLC lifted their price target on shares of ON from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, May 7th. Finally, Barclays dropped their price target on shares of ON from $64.00 to $52.00 and set an “overweight” rating for the company in a research report on Monday. Two equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, ON has a consensus rating of “Buy” and a consensus target price of $61.73.

ON Price Performance

Shares of ONON opened at $57.36 on Tuesday. ON has a 1-year low of $34.59 and a 1-year high of $64.05. The stock has a market cap of $36.12 billion, a PE ratio of 133.40, a P/E/G ratio of 1.02 and a beta of 2.30. The firm has a 50-day simple moving average of $45.55 and a two-hundred day simple moving average of $51.56.

Hedge Funds Weigh In On ON

A number of institutional investors and hedge funds have recently modified their holdings of ONON. Montag A & Associates Inc. acquired a new stake in ON in the first quarter valued at $26,000. TCTC Holdings LLC boosted its position in shares of ON by 118.4% during the 1st quarter. TCTC Holdings LLC now owns 581 shares of the company’s stock worth $26,000 after acquiring an additional 315 shares in the last quarter. Strategic Financial Concepts LLC purchased a new position in shares of ON in the 4th quarter valued at about $30,000. Park Square Financial Group LLC acquired a new stake in shares of ON during the 4th quarter worth about $32,000. Finally, MassMutual Private Wealth & Trust FSB purchased a new stake in ON during the first quarter worth approximately $32,000. Institutional investors and hedge funds own 36.39% of the company’s stock.

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