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

ON (NYSE:ONON)‘s stock had its “outperform” rating reissued by research analysts at Telsey Advisory Group in a report released on Wednesday, Benzinga reports. They currently have a $37.00 price objective on the stock. Telsey Advisory Group’s price objective points to a potential upside of 13.71% from the company’s current price.

Several other research firms have also weighed in on ONON. Truist Financial upped their price target on ON from $29.00 to $30.00 and gave the company a “hold” rating in a research report on Wednesday, March 13th. Piper Sandler upped their target price on ON from $37.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. Morgan Stanley reaffirmed an “overweight” rating and issued a $32.00 target price on shares of ON in a research report on Monday. TheStreet lowered ON from a “c” rating to a “d+” rating in a research report on Monday, March 18th. Finally, Redburn Atlantic reaffirmed a “neutral” rating and issued a $34.00 target price on shares of ON in a research report on Thursday, March 7th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, ON currently has an average rating of “Moderate Buy” and a consensus price target of $37.13.

ON Trading Up 1.9 %

NYSE:ONON opened at $32.54 on Wednesday. The firm has a market capitalization of $20.49 billion, a price-to-earnings ratio of 120.52, a PEG ratio of 1.12 and a beta of 2.16. ON has a 1-year low of $23.41 and a 1-year high of $37.08. The business’s fifty day moving average price is $33.12 and its 200 day moving average price is $29.45.

ON (NYSE:ONON) last posted its quarterly earnings results on Tuesday, March 12th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.18). The business had revenue of $504.69 million for the quarter, compared to analyst estimates of $515.30 million. ON had a net margin of 4.04% and a return on equity of 6.85%. Equities analysts forecast that ON will post 0.65 earnings per share for the current year.

Hedge Funds Weigh In On ON

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ONON. Spire Wealth Management boosted its position in ON by 91.0% during the 3rd quarter. Spire Wealth Management now owns 972 shares of the company’s stock worth $27,000 after acquiring an additional 463 shares during the last quarter. Orion Capital Management LLC grew its stake in shares of ON by 1,100.0% during the 4th quarter. Orion Capital Management LLC now owns 1,200 shares of the company’s stock worth $32,000 after acquiring an additional 1,100 shares in the last quarter. VisionPoint Advisory Group LLC bought a new position in shares of ON during the 4th quarter worth approximately $32,000. Global Wealth Management Investment Advisory Inc. bought a new position in shares of ON during the 4th quarter worth approximately $33,000. Finally, Asset Dedication LLC bought a new position in shares of ON during the 3rd quarter worth approximately $35,000. 33.11% of the stock is owned by institutional investors and hedge funds.

ON Company Profile

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.