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

Telsey Advisory Group restated their outperform rating on shares of ON (NYSE:ONON) in a report issued on Tuesday morning, Benzinga reports. The firm currently has a $47.00 target price on the stock.

Other equities research analysts have also recently issued reports about the stock. Raymond James began coverage on shares of ON in a research report on Wednesday, July 31st. They issued an outperform rating and a $46.00 price objective for the company. UBS Group boosted their price target on ON from $53.00 to $55.00 and gave the company a buy rating in a report on Wednesday, May 15th. Truist Financial restated a buy rating and set a $46.00 price objective on shares of ON in a report on Tuesday, June 18th. Barclays upped their target price on ON from $38.00 to $40.00 and gave the stock an overweight rating in a report on Wednesday, May 15th. Finally, Stifel Nicolaus raised their price target on ON from $41.00 to $45.00 and gave the company a buy rating in a research note on Monday. Two equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $45.11.

ON Stock Up 5.4 %

ONON opened at $42.75 on Tuesday. The business has a fifty day moving average of $39.61 and a 200 day moving average of $35.67. The stock has a market cap of $26.92 billion, a P/E ratio of 96.52, a PEG ratio of 1.16 and a beta of 2.22. ON has a 52-week low of $23.41 and a 52-week high of $44.30.

ON (NYSE:ONON) last issued its earnings results on Tuesday, May 14th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.20. The firm had revenue of $581.41 million during the quarter, compared to analyst estimates of $555.52 million. ON had a net margin of 6.46% and a return on equity of 11.13%. Equities analysts anticipate that ON will post 0.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Ameritas Advisory Services LLC grew its stake in shares of ON by 1.3% during the second quarter. Ameritas Advisory Services LLC now owns 23,806 shares of the company’s stock worth $924,000 after acquiring an additional 300 shares during the last quarter. Artemis Investment Management LLP boosted its stake in ON by 1.9% in the 2nd quarter. Artemis Investment Management LLP now owns 16,410 shares of the company’s stock worth $637,000 after purchasing an additional 302 shares in the last quarter. Crossmark Global Holdings Inc. grew its position in ON by 3.2% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 10,423 shares of the company’s stock worth $404,000 after purchasing an additional 325 shares during the last quarter. Asset Dedication LLC increased its stake in ON by 25.8% during the 2nd quarter. Asset Dedication LLC now owns 1,592 shares of the company’s stock valued at $62,000 after purchasing an additional 327 shares in the last quarter. Finally, King Luther Capital Management Corp raised its holdings in shares of ON by 0.7% in the second quarter. King Luther Capital Management Corp now owns 56,021 shares of the company’s stock worth $2,174,000 after buying an additional 405 shares during the last quarter. 33.11% of the stock is owned by institutional investors and hedge funds.

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.