ON’s (ONON) Outperform Rating Reaffirmed at Telsey Advisory Group

Telsey Advisory Group reissued their outperform rating on shares of ON (NYSE:ONON) in a research note issued to investors on Tuesday morning,Benzinga reports. Telsey Advisory Group currently has a $67.00 price target on the stock.

ONON has been the topic of a number of other reports. UBS Group reissued a “buy” rating and set a $63.00 price target on shares of ON in a research report on Friday, December 27th. TD Cowen lifted their target price on shares of ON from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Citigroup began coverage on ON in a report on Wednesday, December 18th. They issued a “neutral” rating and a $65.00 target price for the company. Robert W. Baird lifted their price target on ON from $55.00 to $63.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, Stifel Nicolaus boosted their price objective on ON from $60.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Five research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $59.82.

ON Trading Up 6.0 %

NYSE ONON opened at $50.72 on Tuesday. The business has a fifty day simple moving average of $55.40 and a 200 day simple moving average of $52.44. ON has a 12 month low of $27.37 and a 12 month high of $64.05. The firm has a market capitalization of $31.94 billion, a P/E ratio of 117.96, a PEG ratio of 1.02 and a beta of 2.30.

Institutional Investors Weigh In On ON

A number of institutional investors and hedge funds have recently modified their holdings of ONON. Norges Bank bought a new stake in ON during the 4th quarter worth approximately $164,574,000. Arrowstreet Capital Limited Partnership bought a new position in shares of ON in the fourth quarter worth $78,799,000. Axiom Investors LLC DE purchased a new stake in shares of ON in the fourth quarter worth $39,320,000. BNP Paribas Financial Markets purchased a new stake in shares of ON in the fourth quarter worth $39,119,000. Finally, Raymond James Financial Inc. bought a new stake in ON during the fourth quarter valued at $28,575,000. 36.39% of the stock is owned by hedge funds and other institutional investors.

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.