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

ON (NYSE:ONON)‘s stock had its “outperform” rating restated by research analysts at Telsey Advisory Group in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $67.00 target price on the stock. Telsey Advisory Group’s price target would indicate a potential upside of 40.11% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Truist Financial upped their price target on ON from $58.00 to $61.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. UBS Group reaffirmed a “buy” rating and set a $63.00 price target on shares of ON in a research report on Friday, December 27th. Raymond James raised shares of ON from an “outperform” rating to a “strong-buy” rating and increased their price objective for the stock from $58.00 to $63.00 in a research report on Thursday, November 21st. KeyCorp lifted their target price on shares of ON from $60.00 to $68.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Finally, BTIG Research upgraded ON from a “neutral” rating to a “buy” rating and set a $64.00 price target for the company in a report on Wednesday, November 13th. Five research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $59.73.

ON Price Performance

NYSE ONON opened at $47.82 on Tuesday. The company has a 50-day moving average of $55.40 and a 200-day moving average of $52.44. ON has a 12 month low of $27.37 and a 12 month high of $64.05. The company has a market cap of $30.11 billion, a P/E ratio of 111.21, a P/E/G ratio of 1.02 and a beta of 2.30.

ON (NYSE:ONON) last posted its quarterly earnings results on Tuesday, March 4th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.11. ON had a net margin of 5.87% and a return on equity of 10.69%. As a group, equities research analysts anticipate that ON will post 0.66 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Park Square Financial Group LLC bought a new position in ON during the fourth quarter worth $32,000. Azzad Asset Management Inc. ADV lifted its position in shares of ON by 0.4% in the 4th quarter. Azzad Asset Management Inc. ADV now owns 146,393 shares of the company’s stock worth $8,018,000 after buying an additional 608 shares during the last quarter. Bernard Wealth Management Corp. acquired a new position in shares of ON in the 4th quarter valued at about $44,000. B. Riley Wealth Advisors Inc. grew its position in shares of ON by 9.8% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 8,105 shares of the company’s stock valued at $444,000 after buying an additional 726 shares during the last quarter. Finally, Mackenzie Financial Corp acquired a new stake in ON during the fourth quarter worth about $425,000. Institutional investors and hedge funds own 36.39% of the company’s stock.

ON Company Profile

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, and all-day activities. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own high-end stores.