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

Telsey Advisory Group reissued their outperform rating on shares of ON (NYSE:ONON) in a research report released on Tuesday morning,Benzinga reports. Telsey Advisory Group currently has a $67.00 price objective on the stock.

ONON has been the subject of several other reports. The Goldman Sachs Group cut shares of ON from a “buy” rating to a “neutral” rating and set a $57.00 price objective for the company. in a research report on Wednesday, February 12th. BTIG Research raised shares of ON from a “neutral” rating to a “buy” rating and set a $64.00 price objective for the company in a research note on Wednesday, November 13th. Bank of America initiated coverage on shares of ON in a research note on Tuesday, January 7th. They issued a “buy” rating and a $73.00 price objective for the company. Citigroup initiated coverage on shares of ON in a research note on Wednesday, December 18th. They issued a “neutral” rating and a $65.00 price objective for the company. Finally, UBS Group reissued a “buy” rating and issued a $63.00 price objective on shares of ON in a research note on Friday, December 27th. 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $59.73.

ON Stock Down 0.7 %

ONON opened at $48.43 on Tuesday. The company has a market cap of $30.49 billion, a price-to-earnings ratio of 112.62, a PEG ratio of 1.02 and a beta of 2.30. ON has a 52-week low of $27.37 and a 52-week high of $64.05. The firm’s fifty day simple moving average is $56.02 and its two-hundred day simple moving average is $52.24.

Institutional Trading of ON

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Private Trust Co. NA acquired a new stake in ON during the third quarter worth approximately $26,000. Blue Trust Inc. raised its holdings in ON by 319.8% during the third quarter. Blue Trust Inc. now owns 529 shares of the company’s stock worth $27,000 after purchasing an additional 403 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in ON during the third quarter worth approximately $29,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in ON by 210.5% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock worth $28,000 after purchasing an additional 400 shares in the last quarter. Finally, Legacy Bridge LLC acquired a new stake in ON during the fourth quarter worth approximately $43,000. 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.