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

Telsey Advisory Group reissued their outperform rating on shares of ON (NYSE:ONON) in a research note published on Tuesday, Benzinga reports. Telsey Advisory Group currently has a $47.00 target price on the stock.

A number of other research firms have also issued reports on ONON. William Blair initiated coverage on shares of ON in a research report on Tuesday, April 16th. They set an outperform rating for the company. TD Cowen raised their price target on shares of ON from $36.00 to $38.00 and gave the stock a buy rating in a research report on Thursday, May 2nd. UBS Group raised their price target on shares of ON from $53.00 to $55.00 and gave the stock a buy rating in a research report on Wednesday, May 15th. JPMorgan Chase & Co. boosted their target price on shares of ON from $40.00 to $47.00 and gave the company an overweight rating in a research note on Monday, June 17th. Finally, Needham & Company LLC boosted their target price on shares of ON from $40.00 to $45.00 and gave the company a buy rating in a research note on Wednesday, May 15th. Two research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, ON has an average rating of Moderate Buy and an average price target of $43.22.

ON Stock Up 3.0 %

Shares of ON stock traded up $1.19 during midday trading on Tuesday, hitting $40.23. The company had a trading volume of 5,314,996 shares, compared to its average volume of 5,136,155. The stock has a market cap of $25.33 billion, a price-to-earnings ratio of 91.43, a PEG ratio of 1.18 and a beta of 2.22. The company has a fifty day simple moving average of $39.66 and a 200 day simple moving average of $35.38. ON has a 12-month low of $23.41 and a 12-month high of $44.30.

ON (NYSE:ONON) last posted its quarterly earnings results on Tuesday, May 14th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.20. ON had a net margin of 6.46% and a return on equity of 11.13%. The company had revenue of $581.41 million during the quarter, compared to analyst estimates of $555.52 million. As a group, analysts expect that ON will post 0.78 EPS for the current year.

Institutional Investors Weigh In On ON

Hedge funds have recently modified their holdings of the company. Orion Capital Management LLC lifted its position in 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 during the last quarter. VisionPoint Advisory Group LLC acquired a new position in ON in the fourth quarter valued at about $32,000. Global Wealth Management Investment Advisory Inc. acquired a new position in ON in the fourth quarter valued at about $33,000. Spire Wealth Management lifted its position in ON by 66.2% in the fourth quarter. Spire Wealth Management now owns 1,615 shares of the company’s stock valued at $45,000 after buying an additional 643 shares during the last quarter. Finally, Rakuten Securities Inc. acquired a new position in ON in the fourth quarter valued at about $47,000. Hedge funds and other 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.