ON (NYSE:ONON) Rating Reiterated by Telsey Advisory Group

ON (NYSE:ONON)‘s stock had its “outperform” rating restated by equities research analysts at Telsey Advisory Group in a research report issued on Tuesday, Benzinga reports. They currently have a $37.00 target price on the stock. Telsey Advisory Group’s price objective would indicate a potential upside of 12.19% from the company’s current price.

A number of other analysts also recently issued reports on ONON. William Blair started coverage on shares of ON in a report on Tuesday, April 16th. They set an “outperform” rating on the stock. TD Cowen upped their price objective on ON from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Redburn Atlantic reissued a “neutral” rating and issued a $34.00 target price on shares of ON in a research report on Thursday, March 7th. Truist Financial boosted their price objective on shares of ON from $29.00 to $30.00 and gave the company a “hold” rating in a research report on Wednesday, March 13th. Finally, Morgan Stanley increased their target price on shares of ON from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Monday. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.53.

ON Stock Down 3.0 %

Shares of ONON opened at $32.98 on Tuesday. ON has a twelve month low of $23.41 and a twelve month high of $37.08. The company has a market capitalization of $20.77 billion, a P/E ratio of 122.15, a price-to-earnings-growth ratio of 1.16 and a beta of 2.17. The firm has a 50 day moving average of $33.23 and a 200 day moving average of $30.07.

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

Hedge Funds Weigh In On ON

Large investors have recently made changes to their positions in the company. William Blair Investment Management LLC purchased a new stake in shares of ON in the first quarter worth approximately $121,712,000. American Century Companies Inc. increased its stake in ON by 109.3% in the third quarter. American Century Companies Inc. now owns 6,566,787 shares of the company’s stock worth $182,688,000 after purchasing an additional 3,428,794 shares during the period. Norges Bank bought a new stake in shares of ON during the fourth quarter worth $57,916,000. Bamco Inc. NY grew its holdings in shares of ON by 243.0% in the third quarter. Bamco Inc. NY now owns 3,028,002 shares of the company’s stock worth $84,239,000 after purchasing an additional 2,145,318 shares during the last quarter. Finally, Jericho Capital Asset Management L.P. purchased a new position in ON in the 3rd quarter worth about $59,539,000. 33.11% of the stock is owned by hedge funds and other 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.