ON (NYSE:ONON) Given Outperform Rating at Telsey Advisory Group

Telsey Advisory Group reiterated their outperform rating on shares of ON (NYSE:ONON) in a research report report published on Tuesday, Marketbeat.com reports. Telsey Advisory Group currently has a $53.00 price objective on the stock.

Several other brokerages have also commented on ONON. Raymond James initiated coverage on ON in a research report on Wednesday, July 31st. They set an “outperform” rating and a $46.00 price objective on the stock. Barclays increased their price target on shares of ON from $40.00 to $47.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Stifel Nicolaus boosted their price objective on shares of ON from $45.00 to $59.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Bank of America raised shares of ON from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $21.00 to $55.00 in a research note on Monday, September 23rd. Finally, KeyCorp lifted their target price on shares of ON from $47.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, September 26th. Four analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $54.33.

ON Price Performance

ONON stock opened at $53.35 on Tuesday. The firm has a 50 day simple moving average of $49.24 and a two-hundred day simple moving average of $42.97. The stock has a market cap of $33.59 billion, a PE ratio of 124.07 and a beta of 2.25. ON has a one year low of $25.78 and a one year high of $56.44.

ON (NYSE:ONON) last announced its earnings results on Tuesday, August 13th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.04). ON had a return on equity of 11.02% and a net margin of 5.87%. The company had revenue of $627.66 million during the quarter, compared to analysts’ expectations of $634.43 million. On average, research analysts expect that ON will post 0.75 EPS for the current fiscal year.

Institutional Investors Weigh In On ON

Large investors have recently modified their holdings of the stock. Private Trust Co. NA bought a new position in ON in the third quarter worth about $26,000. Blue Trust Inc. lifted its stake in shares of 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 boosted its position in shares of ON by 210.5% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock valued at $28,000 after purchasing an additional 400 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new position in ON in the third quarter worth $29,000. Finally, Quarry LP purchased a new position in ON during the second quarter valued at $32,000. Institutional investors own 33.11% of the company’s stock.

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.