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

Telsey Advisory Group restated their outperform rating on shares of ON (NYSE:ONON) in a research note issued to investors on Tuesday morning, Benzinga reports. Telsey Advisory Group currently has a $37.00 price objective on the stock.

Other analysts have also issued research reports about the company. TD Cowen boosted their price target on ON from $36.00 to $38.00 and gave the company a buy rating in a report on Thursday, May 2nd. Truist Financial boosted their price objective on ON from $29.00 to $30.00 and gave the company a hold rating in a research report on Wednesday, March 13th. Barclays initiated coverage on ON in a research report on Monday, April 1st. They issued an overweight rating and a $38.00 price objective on the stock. Stifel Nicolaus restated a buy rating and issued a $40.00 price objective on shares of ON in a research report on Tuesday, March 5th. Finally, Evercore ISI decreased their target price on ON from $40.00 to $37.00 and set an outperform rating on the stock in a research report on Wednesday, March 13th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $37.53.

ON Price Performance

Shares of ONON opened at $30.39 on Tuesday. ON has a one year low of $23.41 and a one year high of $37.08. The firm has a market capitalization of $19.14 billion, a P/E ratio of 112.56, a PEG ratio of 1.10 and a beta of 2.17. The business has a fifty day moving average of $33.07 and a 200 day moving average of $30.11.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ONON. Orion Capital Management LLC grew its stake in ON by 106.7% in the first quarter. Orion Capital Management LLC now owns 2,480 shares of the company’s stock worth $88,000 after purchasing an additional 1,280 shares in the last quarter. Acadian Asset Management LLC bought a new position in ON in the first quarter worth approximately $8,094,000. Vanguard Group Inc. grew its stake in ON by 4.0% in the first quarter. Vanguard Group Inc. now owns 203,025 shares of the company’s stock worth $7,183,000 after purchasing an additional 7,874 shares in the last quarter. Westfield Capital Management Co. LP bought a new position in ON in the first quarter worth approximately $65,898,000. Finally, Glaxis Capital Management LLC bought a new position in ON in the first quarter worth approximately $354,000. Institutional investors own 33.11% of the company’s stock.

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.