Telsey Advisory Group Forecasts Strong Price Appreciation for ON (NYSE:ONON) Stock

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

ONON has been the subject of a number of other reports. TD Cowen raised their target price on ON from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Stifel Nicolaus lifted their target price on shares of ON from $45.00 to $59.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. UBS Group increased their price target on shares of ON from $55.00 to $61.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Barclays lifted their price target on shares of ON from $40.00 to $47.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Finally, KeyCorp increased their price objective on ON from $47.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, September 26th. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, ON has an average rating of “Moderate Buy” and a consensus target price of $50.37.

ON Stock Up 2.2 %

ON stock opened at $51.49 on Wednesday. The company has a fifty day simple moving average of $48.85 and a 200-day simple moving average of $42.54. The firm has a market capitalization of $32.42 billion, a price-to-earnings ratio of 97.15 and a beta of 2.25. ON has a 52-week low of $24.15 and a 52-week high of $52.80.

ON (NYSE:ONON) last issued its earnings results 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 return on equity of 13.02% and a net margin of 7.42%. The company had revenue of $627.66 million for the quarter, compared to analyst estimates of $634.43 million. On average, research analysts anticipate that ON will post 0.75 EPS for the current fiscal year.

Institutional Investors Weigh In On ON

Hedge funds have recently bought and sold shares of the stock. Private Advisor Group LLC purchased a new stake in shares of ON during the first quarter worth approximately $521,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of ON in the 1st quarter valued at approximately $958,000. Janney Montgomery Scott LLC grew its stake in shares of ON by 1,011.8% during the first quarter. Janney Montgomery Scott LLC now owns 104,185 shares of the company’s stock worth $3,686,000 after purchasing an additional 94,814 shares in the last quarter. SG Americas Securities LLC increased its holdings in ON by 486.2% in the first quarter. SG Americas Securities LLC now owns 169,806 shares of the company’s stock valued at $6,008,000 after buying an additional 140,838 shares during the last quarter. Finally, Obermeyer Wood Investment Counsel Lllp acquired a new stake in ON in the first quarter valued at $230,000. Institutional investors and hedge funds own 33.11% of the company’s stock.

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.