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

Telsey Advisory Group reaffirmed their outperform rating on shares of ON (NYSE:ONON) in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has a $37.00 target price on the stock.

Other equities analysts have also issued reports about the stock. Evercore ISI dropped their price target on shares of ON from $40.00 to $37.00 and set an outperform rating on the stock in a research note on Wednesday, March 13th. Redburn Atlantic reiterated a neutral rating and issued a $34.00 price target on shares of ON in a research note on Thursday, March 7th. Barclays initiated coverage on shares of ON in a research note on Monday, April 1st. They issued an overweight rating and a $38.00 price target on the stock. Morgan Stanley reiterated an overweight rating and issued a $32.00 price target on shares of ON in a research note on Monday. Finally, Stifel Nicolaus reissued a buy rating and issued a $40.00 price objective on shares of ON in a report on Tuesday, March 5th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $37.13.

ON Stock Performance

ONON stock opened at $32.35 on Wednesday. The company’s 50 day moving average price is $33.17 and its 200 day moving average price is $29.50. ON has a fifty-two week low of $23.41 and a fifty-two week high of $37.08. The firm has a market capitalization of $20.37 billion, a price-to-earnings ratio of 119.81, a PEG ratio of 1.14 and a beta of 2.16.

ON (NYSE:ONON) last released its earnings results on Tuesday, March 12th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.18). The firm 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%. Equities analysts forecast that ON will post 0.65 EPS for the current fiscal year.

Institutional Investors Weigh In On ON

A number of hedge funds and other institutional investors have recently bought and sold shares of ONON. Spire Wealth Management lifted its holdings in ON by 91.0% in the third quarter. Spire Wealth Management now owns 972 shares of the company’s stock valued at $27,000 after acquiring an additional 463 shares during the period. Orion Capital Management LLC increased its position in shares of ON by 1,100.0% in the fourth quarter. Orion Capital Management LLC now owns 1,200 shares of the company’s stock valued at $32,000 after buying an additional 1,100 shares in the last quarter. VisionPoint Advisory Group LLC purchased a new position in shares of ON in the fourth quarter valued at $32,000. Global Wealth Management Investment Advisory Inc. purchased a new position in shares of ON in the fourth quarter valued at $33,000. Finally, Asset Dedication LLC purchased a new position in shares of ON in the third quarter valued at $35,000. Institutional investors and hedge funds own 33.11% of the company’s stock.

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.