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

Telsey Advisory Group reiterated 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 target on the stock.

Several other equities research analysts also recently weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $64.00 price objective on shares of ON in a report on Wednesday, January 15th. Morgan Stanley upped their target price on ON from $62.00 to $65.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. The Goldman Sachs Group cut shares of ON from a “buy” rating to a “neutral” rating and set a $57.00 price target on the stock. in a research report on Wednesday, February 12th. KeyCorp raised their price objective on shares of ON from $60.00 to $68.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Finally, Williams Trading upgraded shares of ON from a “hold” rating to a “buy” rating and boosted their target price for the stock from $40.00 to $60.00 in a report on Wednesday, November 13th. Five equities 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 currently has a consensus rating of “Moderate Buy” and an average target price of $59.73.

ON Price Performance

Shares of ONON stock opened at $46.69 on Tuesday. The business has a 50 day simple moving average of $55.92 and a 200 day simple moving average of $52.23. The firm has a market capitalization of $29.40 billion, a price-to-earnings ratio of 108.57, a price-to-earnings-growth ratio of 1.02 and a beta of 2.30. ON has a 12-month low of $27.37 and a 12-month high of $64.05.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Private Trust Co. NA bought a new stake in shares of ON in the third quarter valued at approximately $26,000. Blue Trust Inc. boosted its holdings in ON by 319.8% in the 3rd quarter. Blue Trust Inc. now owns 529 shares of the company’s stock valued at $27,000 after purchasing an additional 403 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its position in ON by 210.5% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock worth $28,000 after purchasing an additional 400 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new position in shares of ON during the third quarter valued at about $29,000. Finally, Strategic Financial Concepts LLC bought a new stake in shares of ON in the fourth quarter valued at about $30,000. Institutional investors and hedge funds 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.