ON’s (ONON) Outperform Rating Reiterated at Telsey Advisory Group

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

ONON has been the subject of several other research reports. William Blair started coverage on ON in a report on Tuesday, April 16th. They issued an outperform rating for the company. Evercore ISI reduced their price objective on ON from $40.00 to $37.00 and set an outperform rating on the stock in a research note on Wednesday, March 13th. TheStreet lowered ON from a c rating to a d+ rating in a research note on Monday, March 18th. Piper Sandler lifted their price objective on ON from $37.00 to $39.00 and gave the company an overweight rating in a research note on Thursday, March 21st. Finally, Barclays initiated coverage on ON in a research note on Monday, April 1st. They issued an overweight rating and a $38.00 price objective on the stock. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, ON currently has a consensus rating of Moderate Buy and a consensus price target of $37.13.

ON Trading Up 2.7 %

ON stock opened at $32.79 on Wednesday. The stock has a market cap of $20.65 billion, a PE ratio of 121.44, a P/E/G ratio of 1.13 and a beta of 2.16. The stock has a 50-day moving average price of $33.17 and a 200 day moving average price of $29.54. ON has a 52 week low of $23.41 and a 52 week high of $37.08.

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

Hedge Funds Weigh In On ON

Institutional investors have recently made changes to their positions in the business. Spire Wealth Management raised its position 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 purchasing an additional 463 shares in the last quarter. Orion Capital Management LLC increased its holdings in shares of ON by 1,100.0% in the 4th quarter. Orion Capital Management LLC now owns 1,200 shares of the company’s stock valued at $32,000 after acquiring an additional 1,100 shares during the last quarter. VisionPoint Advisory Group LLC acquired a new stake in shares of ON during the 4th quarter valued at approximately $32,000. Global Wealth Management Investment Advisory Inc. acquired a new stake in shares of ON during the 4th quarter valued at approximately $33,000. Finally, Asset Dedication LLC acquired a new stake in shares of ON during the 3rd quarter valued at approximately $35,000. 33.11% 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 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.