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

ON (NYSE:ONON)‘s stock had its “outperform” rating reaffirmed by stock analysts at Telsey Advisory Group in a report released on Wednesday,Benzinga reports. They presently have a $67.00 price target on the stock. Telsey Advisory Group’s price objective points to a potential upside of 19.07% from the company’s current price.

A number of other brokerages also recently weighed in on ONON. Robert W. Baird boosted their target price on ON from $55.00 to $63.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Stifel Nicolaus boosted their target price on ON from $60.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. BTIG Research upgraded ON from a “neutral” rating to a “buy” rating and set a $64.00 target price on the stock in a research note on Wednesday, November 13th. The Goldman Sachs Group upped their price objective on ON from $50.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Bank of America assumed coverage on ON in a research note on Tuesday, January 7th. They issued a “buy” rating and a $73.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $58.50.

ON Stock Up 2.8 %

Shares of NYSE ONON opened at $56.27 on Wednesday. ON has a twelve month low of $26.03 and a twelve month high of $60.12. The stock’s 50 day moving average price is $55.87 and its 200-day moving average price is $48.60. The company has a market capitalization of $35.43 billion, a PE ratio of 130.87, a PEG ratio of 1.16 and a beta of 2.30.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Private Trust Co. NA bought a new position in shares of ON in the third quarter worth $26,000. Blue Trust Inc. increased its stake in ON by 319.8% in the third quarter. Blue Trust Inc. now owns 529 shares of the company’s stock valued at $27,000 after acquiring an additional 403 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in ON by 210.5% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock valued at $28,000 after acquiring an additional 400 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new position in ON in the third quarter valued at $29,000. Finally, Quarry LP bought a new position in ON in the second quarter valued at $32,000. Institutional investors 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.