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

Telsey Advisory Group reiterated their outperform rating on shares of ON (NYSE:ONON) in a research note released on Tuesday, MarketBeat Ratings reports. The brokerage currently has a $53.00 price objective on the stock.

Several other research firms have also issued reports on ONON. Stifel Nicolaus upped their target price on ON from $45.00 to $59.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Piper Sandler upped their price objective on ON from $52.00 to $56.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. TD Cowen lifted their target price on ON from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Barclays boosted their price target on shares of ON from $40.00 to $47.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Finally, Evercore ISI upgraded shares of ON to an “overweight” rating and boosted their target price for the company from $43.00 to $47.00 in a research note on Monday, August 12th. Four equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $54.33.

ON Price Performance

Shares of ONON stock opened at $51.92 on Tuesday. The firm has a 50-day moving average of $49.56 and a 200-day moving average of $43.17. ON has a one year low of $25.78 and a one year high of $56.44. The company has a market cap of $32.69 billion, a P/E ratio of 120.74 and a beta of 2.25.

ON (NYSE:ONON) last issued its quarterly earnings data 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). ON had a return on equity of 11.02% and a net margin of 5.87%. The firm had revenue of $627.66 million during the quarter, compared to the consensus estimate of $634.43 million. As a group, research analysts expect that ON will post 0.75 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Private Trust Co. NA bought a new stake in shares of ON during the 3rd quarter valued at about $26,000. Blue Trust Inc. increased its position in shares of ON by 319.8% in the third quarter. Blue Trust Inc. now owns 529 shares of the company’s stock worth $27,000 after purchasing an additional 403 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in ON by 210.5% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock valued at $28,000 after purchasing an additional 400 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new stake in ON during the third quarter valued at approximately $29,000. Finally, Quarry LP purchased a new position in ON in the 2nd quarter worth approximately $32,000. 33.11% of the stock is 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.