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

Telsey Advisory Group reaffirmed their outperform rating on shares of ON (NYSE:ONON) in a research note released on Wednesday morning,Benzinga reports. The firm currently has a $67.00 price target on the stock.

A number of other equities analysts have also issued reports on ONON. The Goldman Sachs Group raised their target price on shares of ON from $50.00 to $57.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Bank of America began coverage on ON in a report on Tuesday, January 7th. They issued a “buy” rating and a $73.00 price objective on the stock. Raymond James upgraded 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. Truist Financial boosted 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. Finally, KeyCorp raised their target price on shares of ON from $47.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, September 26th. Four equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, ON presently has an average rating of “Moderate Buy” and an average target price of $58.50.

ON Trading Up 3.0 %

ON stock opened at $58.02 on Wednesday. The stock has a market cap of $36.53 billion, a P/E ratio of 134.94, a price-to-earnings-growth ratio of 1.16 and a beta of 2.30. ON has a 12-month low of $26.03 and a 12-month high of $60.12. The company has a fifty day simple moving average of $56.00 and a 200-day simple moving average of $48.74.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ONON. Capricorn Fund Managers Ltd acquired a new position in ON in the fourth quarter valued at about $3,536,000. Merit Financial Group LLC acquired a new position in ON during the 4th quarter worth approximately $653,000. Park Avenue Securities LLC lifted its position in shares of ON by 19.1% in the fourth quarter. Park Avenue Securities LLC now owns 16,006 shares of the company’s stock worth $877,000 after purchasing an additional 2,565 shares in the last quarter. Tsfg LLC boosted its holdings in ON by 143.6% during the fourth quarter. Tsfg LLC now owns 3,338 shares of the company’s stock worth $183,000 after purchasing an additional 1,968 shares during the last quarter. Finally, Watts Gwilliam & Co. LLC grew its position in ON by 3.7% in the fourth quarter. Watts Gwilliam & Co. LLC now owns 64,830 shares of the company’s stock valued at $3,584,000 after purchasing an additional 2,330 shares in the last quarter. Institutional investors own 36.39% of the company’s stock.

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, 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.