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

ON (NYSE:ONON)‘s stock had its “outperform” rating reiterated by equities research analysts at Telsey Advisory Group in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $67.00 price target on the stock. Telsey Advisory Group’s price objective indicates a potential upside of 37.57% from the company’s current price.

Several other equities research analysts also recently weighed in on ONON. Morgan Stanley raised their price target on ON from $62.00 to $65.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Truist Financial lifted their target price on shares of ON from $58.00 to $61.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Citigroup started coverage on shares of ON in a research note on Wednesday, December 18th. They set a “neutral” rating and a $65.00 price target on the stock. Bank of America began coverage on shares of ON in a research note on Tuesday, January 7th. They set a “buy” rating and a $73.00 price objective for the company. Finally, UBS Group reaffirmed a “buy” rating and set a $63.00 price target on shares of ON in a research report on Friday, December 27th. Five research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, ON presently has an average rating of “Moderate Buy” and an average price target of $59.73.

ON Stock Performance

ONON stock opened at $48.70 on Tuesday. ON has a one year low of $27.37 and a one year high of $64.05. The firm has a market cap of $30.67 billion, a price-to-earnings ratio of 113.26, a PEG ratio of 1.02 and a beta of 2.30. The firm has a 50-day simple moving average of $56.18 and a two-hundred day simple moving average of $52.18.

Institutional Investors Weigh In On ON

Several hedge funds have recently made changes to their positions in the business. Norges Bank acquired a new stake in ON in the 4th quarter worth about $164,574,000. Arrowstreet Capital Limited Partnership purchased a new stake in ON in the fourth quarter valued at approximately $78,799,000. Axiom Investors LLC DE acquired a new position in ON during the fourth quarter worth approximately $39,320,000. BNP Paribas Financial Markets purchased a new position in ON during the fourth quarter worth approximately $39,119,000. Finally, Raymond James Financial Inc. acquired a new position in shares of ON in the 4th quarter valued at $28,575,000. Institutional investors and hedge funds own 36.39% of the company’s stock.

About ON

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.