Telsey Advisory Group Reaffirms Outperform Rating for ON (NYSE:ONON)

ON (NYSE:ONON)‘s stock had its “outperform” rating reissued by analysts at Telsey Advisory Group in a research note issued on Tuesday, Marketbeat.com reports. They currently have a $53.00 price target on the stock. Telsey Advisory Group’s target price points to a potential upside of 0.55% from the stock’s current price.

A number of other equities analysts also recently commented on the company. KeyCorp increased their price objective on ON from $47.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, September 26th. Morgan Stanley raised their price target on shares of ON from $44.00 to $46.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Evercore ISI raised shares of ON to an “overweight” rating and lifted their price objective for the company from $43.00 to $47.00 in a research note on Monday, August 12th. Truist Financial raised their target price on ON from $51.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Finally, TD Cowen upped their price target on ON from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Four investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $54.33.

ON Stock Up 0.2 %

ONON stock opened at $52.71 on Tuesday. The company has a 50 day moving average of $49.24 and a two-hundred day moving average of $42.97. ON has a 12-month low of $24.15 and a 12-month high of $56.44. The company has a market cap of $33.19 billion, a price-to-earnings ratio of 122.58 and a beta of 2.25.

ON (NYSE:ONON) last released 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 net margin of 5.87% and a return on equity of 11.02%. The firm had revenue of $627.66 million for the quarter, compared to analyst estimates of $634.43 million. On average, research analysts anticipate that ON will post 0.75 EPS for the current year.

Hedge Funds Weigh In On ON

Hedge funds and other institutional investors have recently made changes to their positions in the business. Blair William & Co. IL bought a new position in ON during the first quarter worth about $502,000. Acadian Asset Management LLC bought a new position in ON during the 1st quarter valued at about $8,094,000. Kayne Anderson Rudnick Investment Management LLC grew its stake in ON by 100.7% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,281,339 shares of the company’s stock worth $49,716,000 after buying an additional 642,894 shares during the last quarter. Forte Capital LLC ADV acquired a new stake in shares of ON during the third quarter worth approximately $742,000. Finally, Coronation Fund Managers Ltd. raised its stake in shares of ON by 248.6% in the second quarter. Coronation Fund Managers Ltd. now owns 154,903 shares of the company’s stock valued at $6,010,000 after acquiring an additional 110,467 shares during the last quarter. 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.