ON (NYSE:ONON) Stock Rating Reaffirmed by Telsey Advisory Group

ON (NYSE:ONON)‘s stock had its “outperform” rating reissued by analysts at Telsey Advisory Group in a report released on Wednesday, Benzinga reports. They currently have a $37.00 price target on the stock. Telsey Advisory Group’s target price would indicate a potential upside of 15.91% from the company’s current price.

ONON has been the subject of several other reports. TheStreet cut shares of ON from a “c” rating to a “d+” rating in a research report on Monday, March 18th. Barclays began coverage on shares of ON in a research report on Monday, April 1st. They set an “overweight” rating and a $38.00 price objective for the company. Redburn Atlantic reiterated a “neutral” rating and set a $34.00 price objective on shares of ON in a research report on Thursday, March 7th. Piper Sandler raised their price target on shares of ON from $37.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. Finally, Truist Financial raised their price target on shares of ON from $29.00 to $30.00 and gave the stock a “hold” rating in a report on Wednesday, March 13th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.13.

ON Stock Performance

Shares of NYSE ONON opened at $31.92 on Wednesday. ON has a 52-week low of $23.41 and a 52-week high of $37.08. The firm has a 50 day moving average price of $33.18 and a two-hundred day moving average price of $29.52. The stock has a market cap of $20.10 billion, a P/E ratio of 118.22, a price-to-earnings-growth ratio of 1.13 and a beta of 2.16.

ON (NYSE:ONON) last announced its quarterly earnings results on Tuesday, March 12th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.18). ON had a net margin of 4.04% and a return on equity of 6.85%. The business had revenue of $504.69 million during the quarter, compared to analyst estimates of $515.30 million. Analysts predict that ON will post 0.65 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. California First Leasing Corp lifted its position in shares of ON by 179.3% during the first quarter. California First Leasing Corp now owns 101,100 shares of the company’s stock valued at $3,577,000 after purchasing an additional 64,900 shares in the last quarter. Hedges Asset Management LLC boosted its holdings in ON by 21.2% during the first quarter. Hedges Asset Management LLC now owns 10,300 shares of the company’s stock worth $364,000 after purchasing an additional 1,800 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in shares of ON by 29.7% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 38,632 shares of the company’s stock worth $1,367,000 after buying an additional 8,854 shares during the last quarter. Parsons Capital Management Inc. RI bought a new position in shares of ON in the first quarter valued at approximately $260,000. Finally, Azzad Asset Management Inc. ADV grew its holdings in shares of ON by 0.7% in the first quarter. Azzad Asset Management Inc. ADV now owns 164,107 shares of the company’s stock valued at $5,806,000 after acquiring an additional 1,190 shares in the last quarter. 33.11% of the stock is owned by institutional investors.

About ON

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.