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

ON (NYSE:ONON)‘s stock had its “outperform” rating reaffirmed by Telsey Advisory Group in a report released on Wednesday,Benzinga reports. They presently have a $65.00 price objective on the stock. Telsey Advisory Group’s price objective points to a potential upside of 79.47% from the stock’s current price.

Several other research analysts have also recently weighed in on the stock. Morgan Stanley upped their price target on shares of ON from $62.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, August 13th. BTIG Research reiterated a “buy” rating and issued a $70.00 price target on shares of ON in a report on Tuesday. Citigroup lowered shares of ON from a “buy” rating to a “mixed” rating in a research report on Tuesday, October 28th. TD Cowen cut their price objective on shares of ON from $63.00 to $55.00 and set a “buy” rating on the stock in a research report on Tuesday, October 14th. Finally, The Goldman Sachs Group set a $50.00 price objective on shares of ON in a research report on Monday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $63.05.

ON Trading Down 0.7%

Shares of NYSE ONON opened at $36.22 on Wednesday. ON has a 1-year low of $34.59 and a 1-year high of $64.05. The company has a market cap of $22.80 billion, a PE ratio of 80.48, a P/E/G ratio of 4.53 and a beta of 2.18. The company has a current ratio of 2.53, a quick ratio of 2.00 and a debt-to-equity ratio of 0.31. The company has a 50-day moving average of $42.80 and a two-hundred day moving average of $48.59.

ON (NYSE:ONON) last posted its quarterly earnings results on Tuesday, August 12th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.35). The business had revenue of $944.29 million for the quarter, compared to the consensus estimate of $707.74 million. ON had a return on equity of 8.75% and a net margin of 4.45%.The company’s quarterly revenue was up 32.0% on a year-over-year basis. During the same period last year, the firm earned $0.14 earnings per share. ON has set its FY 2025 guidance at EPS. As a group, equities analysts expect that ON will post 0.66 earnings per share for the current fiscal year.

Institutional Trading of ON

Large investors have recently bought and sold shares of the business. Winslow Capital Management LLC bought a new position in ON in the second quarter worth $248,113,000. Sands Capital Management LLC bought a new position in ON in the second quarter worth $240,177,000. Jennison Associates LLC raised its holdings in ON by 136.6% in the first quarter. Jennison Associates LLC now owns 4,848,438 shares of the company’s stock worth $212,943,000 after purchasing an additional 2,798,794 shares in the last quarter. Norges Bank bought a new position in shares of ON during the second quarter valued at $138,641,000. Finally, Alliancebernstein L.P. increased its holdings in shares of ON by 13.9% during the first quarter. Alliancebernstein L.P. now owns 19,794,811 shares of the company’s stock valued at $869,388,000 after acquiring an additional 2,416,534 shares in the last quarter. 36.39% of the stock is currently owned by institutional investors and hedge funds.

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.