ON (NYSE:ONON) Given Outperform Rating at Telsey Advisory Group

Telsey Advisory Group reiterated their outperform rating on shares of ON (NYSE:ONON) in a research report released on Tuesday morning,Benzinga reports. They currently have a $53.00 price target on the stock.

A number of other equities research analysts have also issued reports on ONON. KeyCorp increased their target price on ON from $47.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, September 26th. Bank of America upgraded shares of ON from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $21.00 to $55.00 in a research note on Monday, September 23rd. Truist Financial upped their target price on shares of ON from $51.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Stifel Nicolaus lifted their price target on shares of ON from $45.00 to $59.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Finally, Morgan Stanley upped their price objective on shares of ON from $44.00 to $46.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Four research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $50.37.

ON Price Performance

Shares of NYSE:ONON opened at $52.63 on Tuesday. The business has a 50-day moving average of $49.10 and a two-hundred day moving average of $42.90. The firm has a market capitalization of $33.14 billion, a PE ratio of 99.30 and a beta of 2.25. ON has a 12 month low of $24.15 and a 12 month high of $54.00.

ON (NYSE:ONON) last posted its earnings results on Tuesday, August 13th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). The business had revenue of $627.66 million for the quarter, compared to analyst estimates of $634.43 million. ON had a return on equity of 13.02% and a net margin of 7.42%. As a group, research analysts anticipate that ON will post 0.75 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ONON. Ameritas Advisory Services LLC raised its stake in ON by 1.3% during the second quarter. Ameritas Advisory Services LLC now owns 23,806 shares of the company’s stock worth $924,000 after acquiring an additional 300 shares during the period. Capital Advisors Inc. OK boosted its position in ON by 5.1% during the 3rd quarter. Capital Advisors Inc. OK now owns 6,186 shares of the company’s stock valued at $310,000 after purchasing an additional 301 shares during the period. Artemis Investment Management LLP grew its stake in ON by 1.9% during the 2nd quarter. Artemis Investment Management LLP now owns 16,410 shares of the company’s stock worth $637,000 after buying an additional 302 shares during the last quarter. Crossmark Global Holdings Inc. increased its position in ON by 3.2% in the second quarter. Crossmark Global Holdings Inc. now owns 10,423 shares of the company’s stock worth $404,000 after buying an additional 325 shares during the period. Finally, Asset Dedication LLC lifted its stake in ON by 25.8% in the second quarter. Asset Dedication LLC now owns 1,592 shares of the company’s stock valued at $62,000 after buying an additional 327 shares during the last quarter. 33.11% of the stock is currently owned by institutional investors.

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.