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

Telsey Advisory Group reaffirmed their outperform rating on shares of ON (NYSE:ONON) in a report released on Tuesday morning,Benzinga reports. They currently have a $65.00 price objective on the stock.

Several other brokerages have also commented on ONON. Citigroup raised shares of ON from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $65.00 to $60.00 in a research report on Monday, April 28th. Williams Trading boosted their target price on shares of ON from $60.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Needham & Company LLC boosted their price objective on ON from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, May 7th. Jefferies Financial Group started coverage on shares of ON in a report on Tuesday, April 1st. They issued a “hold” rating and a $44.00 price target on the stock. Finally, Barclays cut their price target on shares of ON from $64.00 to $52.00 and set an “overweight” rating for the company in a report on Monday. Two analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $58.18.

ON Stock Performance

Shares of ONON stock opened at $57.41 on Tuesday. The firm has a market cap of $36.15 billion, a price-to-earnings ratio of 133.51, a P/E/G ratio of 1.02 and a beta of 2.30. ON has a 52 week low of $33.55 and a 52 week high of $64.05. The firm’s 50-day simple moving average is $45.33 and its two-hundred day simple moving average is $51.52.

Institutional Investors Weigh In On ON

Several hedge funds have recently added to or reduced their stakes in ONON. Tsfg LLC lifted its stake in ON by 143.6% during the fourth quarter. Tsfg LLC now owns 3,338 shares of the company’s stock worth $183,000 after purchasing an additional 1,968 shares during the last quarter. Park Avenue Securities LLC increased its holdings in shares of ON by 19.1% in the fourth quarter. Park Avenue Securities LLC now owns 16,006 shares of the company’s stock worth $877,000 after buying an additional 2,565 shares during the period. Merit Financial Group LLC purchased a new position in shares of ON in the fourth quarter worth about $653,000. Capricorn Fund Managers Ltd purchased a new position in shares of ON in the fourth quarter worth about $3,536,000. Finally, Bennett Selby Investments LP increased its holdings in shares of ON by 7.8% in the fourth quarter. Bennett Selby Investments LP now owns 21,849 shares of the company’s stock worth $1,197,000 after buying an additional 1,578 shares during the period. 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, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.