Telsey Advisory Group Issues Positive Forecast for ON (NYSE:ONON) Stock Price

ON (NYSE:ONON) had its price target boosted by Telsey Advisory Group from $47.00 to $53.00 in a report published on Wednesday, MarketBeat reports. They currently have an outperform rating on the stock.

Several other brokerages have also recently issued reports on ONON. Barclays lifted their price objective on shares of ON from $40.00 to $47.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Evercore ISI raised ON to an “overweight” rating and upped their price target for the company from $43.00 to $47.00 in a report on Monday, August 12th. Raymond James initiated coverage on ON in a research report on Wednesday, July 31st. They set an “outperform” rating and a $46.00 price objective for the company. UBS Group lifted their target price on ON from $55.00 to $61.00 and gave the stock a “buy” rating in a report on Monday. Finally, Piper Sandler upped their target price on ON from $52.00 to $56.00 and gave the company an “overweight” rating in a report on Thursday, October 3rd. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $50.37.

ON Trading Up 5.9 %

NYSE:ONON traded up $2.79 during midday trading on Wednesday, hitting $50.36. 1,562,314 shares of the stock were exchanged, compared to its average volume of 4,922,916. The business has a 50-day moving average price of $48.69 and a two-hundred day moving average price of $42.28. The company has a market capitalization of $31.71 billion, a price-to-earnings ratio of 89.79 and a beta of 2.25. ON has a one year low of $24.15 and a one year high of $52.80.

ON (NYSE:ONON) last announced its quarterly earnings data on Tuesday, August 13th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.04). ON had a net margin of 7.42% and a return on equity of 13.02%. The firm had revenue of $627.66 million during the quarter, compared to analyst estimates of $634.43 million. Sell-side analysts forecast that ON will post 0.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. RiverPark Advisors LLC bought a new position in shares of ON in the third quarter valued at approximately $175,000. Accredited Investors Inc. bought a new position in ON in the 3rd quarter valued at $256,000. River Street Advisors LLC acquired a new position in ON in the third quarter worth $183,000. OneDigital Investment Advisors LLC bought a new stake in shares of ON during the third quarter worth $254,000. Finally, Main Street Financial Solutions LLC increased its stake in shares of ON by 6.2% in the third quarter. Main Street Financial Solutions LLC now owns 24,065 shares of the company’s stock valued at $1,207,000 after buying an additional 1,415 shares in the last quarter. 33.11% of the stock is owned by institutional investors.

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.