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

Telsey Advisory Group restated their outperform rating on shares of ON (NYSE:ONON) in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has a $67.00 price target on the stock.

ONON has been the subject of a number of other research reports. Stifel Nicolaus increased their price target on ON from $60.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Bank of America initiated coverage on ON in a research report on Tuesday, January 7th. They set a “buy” rating and a $73.00 target price for the company. Raymond James upgraded ON from an “outperform” rating to a “strong-buy” rating and upped their price target for the stock from $58.00 to $63.00 in a research note on Thursday, November 21st. Piper Sandler lifted their price objective on shares of ON from $52.00 to $56.00 and gave the company an “overweight” rating in a research report on Thursday, October 3rd. Finally, Robert W. Baird upped their target price on shares of ON from $55.00 to $63.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Four analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $58.50.

ON Price Performance

ONON opened at $54.48 on Wednesday. The firm has a market cap of $34.30 billion, a P/E ratio of 126.70, a PEG ratio of 1.16 and a beta of 2.30. ON has a 1-year low of $26.03 and a 1-year high of $60.12. The company has a 50 day simple moving average of $55.75 and a two-hundred day simple moving average of $48.55.

Institutional Trading of ON

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Private Trust Co. NA bought a new position in ON during the third quarter valued at $26,000. Blue Trust Inc. boosted its stake in shares of ON by 319.8% during the 3rd quarter. Blue Trust Inc. now owns 529 shares of the company’s stock worth $27,000 after purchasing an additional 403 shares during the period. MidAtlantic Capital Management Inc. bought a new position in ON during the 3rd quarter valued at about $29,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in ON by 210.5% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock worth $28,000 after purchasing an additional 400 shares during the period. Finally, Quarry LP bought a new stake in ON in the second quarter worth about $32,000. Hedge funds and other institutional investors 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, and all-day activities. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own high-end stores.