ON (NYSE:ONON) Price Target Raised to $53.00 at Telsey Advisory Group

ON (NYSE:ONON) had its target price boosted by Telsey Advisory Group from $47.00 to $53.00 in a research report released on Wednesday, MarketBeat.com reports. They currently have an outperform rating on the stock.

A number of other equities analysts have also recently issued reports on ONON. UBS Group raised their price objective on shares of ON from $55.00 to $61.00 and gave the company a “buy” rating in a research note on Monday. Stifel Nicolaus upped their price target on ON from $45.00 to $59.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Hsbc Global Res raised shares of ON to a “hold” rating in a research note on Thursday, September 5th. Raymond James initiated coverage on shares of ON in a research report on Wednesday, July 31st. They set an “outperform” rating and a $46.00 price target on the stock. Finally, HSBC started coverage on shares of ON in a research report on Thursday, September 5th. They issued a “hold” rating and a $52.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, ON currently has an average rating of “Moderate Buy” and an average target price of $50.37.

ON Stock Performance

ONON traded up $2.79 during mid-day trading on Wednesday, reaching $50.36. The stock had a trading volume of 1,562,314 shares, compared to its average volume of 4,922,916. The firm’s fifty day simple moving average is $48.69 and its two-hundred day simple moving average is $42.28. The stock has a market capitalization of $31.71 billion, a P/E ratio of 89.79 and a beta of 2.25. ON has a 52 week low of $24.15 and a 52 week high of $52.80.

ON (NYSE:ONON) last announced its quarterly earnings data on Tuesday, August 13th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). ON had a return on equity of 13.02% and a net margin of 7.42%. The firm had revenue of $627.66 million during the quarter, compared to analyst estimates of $634.43 million. As a group, analysts expect that ON will post 0.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. William Blair Investment Management LLC acquired a new stake in ON in the 1st quarter valued at about $121,712,000. 1832 Asset Management L.P. increased its holdings in shares of ON by 66,838.9% during the 2nd quarter. 1832 Asset Management L.P. now owns 2,409,800 shares of the company’s stock worth $93,500,000 after acquiring an additional 2,406,200 shares during the last quarter. Westfield Capital Management Co. LP bought a new stake in ON in the 1st quarter valued at $65,898,000. Acadian Asset Management LLC lifted its holdings in ON by 574.3% during the 2nd quarter. Acadian Asset Management LLC now owns 1,543,978 shares of the company’s stock valued at $59,878,000 after purchasing an additional 1,315,006 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in ON during the second quarter worth $43,456,000. Institutional investors and hedge funds own 33.11% of the company’s stock.

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.