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

ON (NYSE:ONON)‘s stock had its “outperform” rating reiterated by stock analysts at Telsey Advisory Group in a report issued on Wednesday,Benzinga reports. They currently have a $67.00 target price on the stock. Telsey Advisory Group’s price objective indicates a potential upside of 22.91% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. KeyCorp increased their price objective on shares of ON from $47.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, September 26th. UBS Group reissued a “buy” rating and issued a $63.00 price objective on shares of ON in a research report on Friday, December 27th. The Goldman Sachs Group increased their price objective on shares of ON from $50.00 to $57.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Citigroup initiated coverage on shares of ON in a research report on Wednesday, December 18th. They issued a “neutral” rating and a $65.00 target price on the stock. Finally, Bank of America initiated coverage on shares of ON in a research report on Tuesday, January 7th. They issued a “buy” rating and a $73.00 target price on the stock. Four research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, ON presently has an average rating of “Moderate Buy” and an average target price of $58.50.

ON Trading Down 1.6 %

Shares of NYSE:ONON opened at $54.51 on Wednesday. ON has a 52 week low of $26.03 and a 52 week high of $60.12. The company’s 50 day moving average is $55.62 and its two-hundred day moving average is $48.51. The company has a market cap of $34.32 billion, a PE ratio of 126.77 and a beta of 2.30.

Institutional Trading of ON

Several hedge funds have recently made changes to their positions in the company. 1832 Asset Management L.P. lifted its stake in shares of ON by 66,838.9% in the 2nd quarter. 1832 Asset Management L.P. now owns 2,409,800 shares of the company’s stock worth $93,500,000 after acquiring an additional 2,406,200 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of ON by 100.7% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,281,339 shares of the company’s stock valued at $49,716,000 after purchasing an additional 642,894 shares during the period. Fred Alger Management LLC lifted its stake in shares of ON by 22.8% in the second quarter. Fred Alger Management LLC now owns 1,152,941 shares of the company’s stock valued at $44,734,000 after purchasing an additional 213,815 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of ON in the second quarter valued at about $27,975,000. Finally, Cerity Partners LLC lifted its stake in shares of ON by 189.9% in the third quarter. Cerity Partners LLC now owns 719,493 shares of the company’s stock valued at $36,083,000 after purchasing an additional 471,323 shares during the period. Institutional investors and hedge funds own 36.39% of the company’s stock.

ON Company Profile

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, and all-day activities. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own high-end stores.