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

Telsey Advisory Group reiterated their outperform rating on shares of ON (NYSE:ONON) in a research report sent to investors on Tuesday, MarketBeat.com reports. The brokerage currently has a $53.00 price target on the stock.

A number of other research analysts have also issued reports on the stock. Raymond James began coverage on shares of ON in a research report on Wednesday, July 31st. They set an “outperform” rating and a $46.00 target price on the stock. Evercore ISI raised ON to an “overweight” rating and increased their target price for the stock from $43.00 to $47.00 in a report on Monday, August 12th. KeyCorp raised their price target on ON from $47.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, September 26th. Hsbc Global Res raised shares of ON to a “hold” rating in a research report on Thursday, September 5th. Finally, TD Cowen increased their price target on shares of ON from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Four analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $54.33.

ON Price Performance

ONON opened at $51.92 on Tuesday. The company has a market capitalization of $32.69 billion, a PE ratio of 120.74 and a beta of 2.25. The business has a fifty day simple moving average of $49.56 and a 200 day simple moving average of $43.17. ON has a 1 year low of $25.78 and a 1 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 analysts’ consensus estimates of $0.14 by ($0.04). ON had a net margin of 5.87% and a return on equity of 11.02%. The business had revenue of $627.66 million during the quarter, compared to the consensus estimate of $634.43 million. Equities analysts anticipate that ON will post 0.75 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ON

A number of hedge funds have recently bought and sold shares of the company. Gordian Capital Singapore Pte Ltd bought a new stake in ON during the third quarter valued at $351,000. Y Intercept Hong Kong Ltd increased its stake in shares of ON by 584.8% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 83,651 shares of the company’s stock valued at $4,195,000 after acquiring an additional 71,436 shares in the last quarter. MML Investors Services LLC lifted its position in shares of ON by 54.9% during the 3rd quarter. MML Investors Services LLC now owns 43,200 shares of the company’s stock valued at $2,166,000 after acquiring an additional 15,313 shares during the period. Orion Portfolio Solutions LLC bought a new position in ON during the third quarter worth $1,499,000. Finally, Zurich Insurance Group Ltd FI acquired a new position in shares of ON during the third quarter valued at about $10,263,000. 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.