ON (NYSE:ONON) Receives “Outperform” Rating from Telsey Advisory Group

Telsey Advisory Group restated their outperform rating on shares of ON (NYSE:ONON) in a report issued on Tuesday morning,Benzinga reports. They currently have a $67.00 price objective on the stock.

A number of other analysts also recently issued reports on ONON. Citigroup began coverage on ON in a report on Wednesday, December 18th. They set a “neutral” rating and a $65.00 price objective on the stock. Barclays boosted their price target on shares of ON from $63.00 to $64.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Needham & Company LLC reiterated a “buy” rating and set a $64.00 price objective on shares of ON in a research report on Tuesday, March 4th. HSBC upgraded shares of ON from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a report on Tuesday, March 11th. Finally, Hsbc Global Res raised shares of ON from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 11th. Three analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, ON currently has an average rating of “Moderate Buy” and an average price target of $60.45.

ON Stock Down 2.8 %

Shares of ON stock opened at $42.69 on Tuesday. The firm has a market cap of $26.88 billion, a price-to-earnings ratio of 99.28, a PEG ratio of 1.02 and a beta of 2.35. ON has a twelve month low of $29.84 and a twelve month high of $64.05. The business has a 50-day moving average price of $51.85 and a 200-day moving average price of $52.68.

Institutional Investors Weigh In On ON

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Park Square Financial Group LLC bought a new position in shares of ON during the 4th quarter worth $32,000. MassMutual Private Wealth & Trust FSB purchased a new stake in ON in the first quarter worth about $32,000. Legacy Bridge LLC bought a new position in ON during the 4th quarter worth about $43,000. Bernard Wealth Management Corp. purchased a new position in ON during the 4th quarter valued at about $44,000. Finally, Arcadia Investment Management Corp MI bought a new stake in shares of ON in the 4th quarter valued at about $53,000. Institutional investors 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.