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

Telsey Advisory Group reissued their outperform rating on shares of ON (NYSE:ONON) in a research note published on Wednesday, Benzinga reports. They currently have a $37.00 price target on the stock.

Several other equities research analysts have also recently weighed in on ONON. Stifel Nicolaus reiterated a buy rating and issued a $40.00 target price on shares of ON in a report on Tuesday, March 5th. Barclays assumed coverage on ON in a research note on Monday, April 1st. They set an overweight rating and a $38.00 price objective for the company. TheStreet lowered ON from a c rating to a d+ rating in a research note on Monday, March 18th. Evercore ISI decreased their price target on shares of ON from $40.00 to $37.00 and set an outperform rating for the company in a research report on Wednesday, March 13th. Finally, Morgan Stanley reaffirmed an overweight rating and issued a $32.00 price objective on shares of ON in a research report on Monday, April 22nd. 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 has an average rating of Moderate Buy and a consensus target price of $37.13.

ON Stock Up 2.7 %

ONON opened at $32.79 on Wednesday. The business has a fifty day moving average of $33.17 and a 200 day moving average of $29.54. ON has a 52-week low of $23.41 and a 52-week high of $37.08. The stock has a market cap of $20.65 billion, a P/E ratio of 121.44, a PEG ratio of 1.13 and a beta of 2.16.

ON (NYSE:ONON) last posted its quarterly earnings data on Tuesday, March 12th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $515.30 million. Equities analysts anticipate that ON will post 0.65 EPS for the current fiscal year.

Institutional Trading of ON

Institutional investors and hedge funds have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC lifted its stake in ON by 4.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,708,416 shares of the company’s stock valued at $46,076,000 after acquiring an additional 76,746 shares during the period. Liontrust Investment Partners LLP lifted its stake in shares of ON by 204.7% in the 3rd quarter. Liontrust Investment Partners LLP now owns 517,942 shares of the company’s stock valued at $14,410,000 after purchasing an additional 347,942 shares during the period. Jennison Associates LLC lifted its stake in shares of ON by 7.6% in the 3rd quarter. Jennison Associates LLC now owns 7,887,000 shares of the company’s stock valued at $219,416,000 after purchasing an additional 554,513 shares during the period. China Universal Asset Management Co. Ltd. lifted its stake in shares of ON by 127.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 131,585 shares of the company’s stock valued at $3,549,000 after purchasing an additional 73,839 shares during the period. Finally, Baltimore Washington Financial Advisors Inc. lifted its stake in shares of ON by 10.3% in the 3rd quarter. Baltimore Washington Financial Advisors Inc. now owns 292,338 shares of the company’s stock valued at $8,133,000 after purchasing an additional 27,206 shares during the period. 33.11% of the stock is currently owned by institutional investors and hedge funds.

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.