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

Telsey Advisory Group reiterated their outperform rating on shares of ON (NYSE:ONON - Free Report) in a research report report published on Wednesday morning, Benzinga reports. Telsey Advisory Group currently has a $37.00 target price on the stock.

Several other research firms have also recently issued reports on ONON. William Blair began coverage on ON in a report on Tuesday, April 16th. They issued an outperform rating on the stock. TheStreet lowered shares of ON from a c rating to a d+ rating in a research note on Monday, March 18th. Truist Financial raised their target price on shares of ON from $29.00 to $30.00 and gave the stock a hold rating in a research note on Wednesday, March 13th. Barclays started coverage on shares of ON in a research note on Monday, April 1st. They issued an overweight rating and a $38.00 target price on the stock. Finally, Stifel Nicolaus reissued a buy rating and issued a $40.00 target price on shares of ON in a research note on Tuesday, March 5th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $37.13.

ON Stock Down 0.6 %

Shares of NYSE:ONON traded down $0.21 during trading on Wednesday, reaching $32.35. 2,023,710 shares of the company's stock traded hands, compared to its average volume of 5,259,708. ON has a fifty-two week low of $23.41 and a fifty-two week high of $37.08. The firm has a market cap of $20.37 billion, a PE ratio of 121.52, a P/E/G ratio of 1.12 and a beta of 2.16. The company has a 50-day simple moving average of $33.17 and a 200-day simple moving average of $29.50.

ON (NYSE:ONON - Get Free Report) last posted its earnings results on Tuesday, March 12th. The company reported ($0.09) EPS for the quarter, missing analysts' consensus estimates of $0.09 by ($0.18). ON had a net margin of 4.04% and a return on equity of 6.85%. The business had revenue of $504.69 million for the quarter, compared to analyst estimates of $515.30 million. On average, equities research analysts forecast that ON will post 0.65 EPS for the current year.

Institutional Trading of ON

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ONON. AE Wealth Management LLC increased its position in shares of ON by 39.2% during the third quarter. AE Wealth Management LLC now owns 12,435 shares of the company's stock worth $346,000 after acquiring an additional 3,505 shares during the period. IFP Advisors Inc increased its position in shares of ON by 138.3% during the third quarter. IFP Advisors Inc now owns 4,951 shares of the company's stock worth $138,000 after acquiring an additional 2,873 shares during the period. DAVENPORT & Co LLC increased its position in shares of ON by 29.2% during the third quarter. DAVENPORT & Co LLC now owns 16,060 shares of the company's stock worth $447,000 after acquiring an additional 3,625 shares during the period. Caprock Group LLC increased its position in shares of ON by 10.0% during the third quarter. Caprock Group LLC now owns 7,738 shares of the company's stock worth $215,000 after acquiring an additional 701 shares during the period. Finally, KG&L Capital Management LLC purchased a new stake in shares of ON during the third quarter worth $232,000. Hedge funds and other institutional investors own 33.11% of the company's stock.

ON Company Profile

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.