ON's (ONON) Outperform Rating Reiterated at Telsey Advisory Group

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

ONON has been the subject of a number of other reports. TD Cowen increased their target price on shares of ON from $36.00 to $38.00 and gave the company a buy rating in a report on Thursday, May 2nd. Morgan Stanley raised their price objective on shares of ON from $32.00 to $35.00 and gave the stock an overweight rating in a research note on Monday. TheStreet cut shares of ON from a c rating to a d+ rating in a research note on Monday, March 18th. Stifel Nicolaus reissued a buy rating and set a $40.00 price objective on shares of ON in a research note on Tuesday, March 5th. Finally, Redburn Atlantic reissued a neutral rating and set a $34.00 price objective on shares of ON in a research note on Thursday, March 7th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $37.53.

ON Stock Performance

NYSE:ONON traded down $0.02 during mid-day trading on Tuesday, reaching $34.02. The stock had a trading volume of 4,239,260 shares, compared to its average volume of 4,994,950. The firm has a market capitalization of $21.42 billion, a price-to-earnings ratio of 126.00, a PEG ratio of 1.16 and a beta of 2.17. ON has a twelve month low of $23.41 and a twelve month high of $37.08. The business has a 50 day simple moving average of $33.26 and a 200 day simple moving average of $30.05.

ON (NYSE:ONON - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $504.69 million during the quarter, compared to analyst estimates of $515.30 million. As a group, sell-side analysts expect that ON will post 0.65 earnings per share for the current year.

Hedge Funds Weigh In On ON

A number of hedge funds have recently made changes to their positions in the stock. Jennison Associates LLC boosted its holdings in shares of ON by 7.6% in the 3rd quarter. Jennison Associates LLC now owns 7,887,000 shares of the company's stock valued at $219,416,000 after purchasing an additional 554,513 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of ON by 109.3% during the 3rd quarter. American Century Companies Inc. now owns 6,566,787 shares of the company's stock valued at $182,688,000 after acquiring an additional 3,428,794 shares in the last quarter. 1832 Asset Management L.P. lifted its holdings in shares of ON by 36.2% during the 4th quarter. 1832 Asset Management L.P. now owns 3,160,000 shares of the company's stock valued at $85,225,000 after acquiring an additional 840,600 shares in the last quarter. Bamco Inc. NY lifted its holdings in shares of ON by 243.0% during the 3rd quarter. Bamco Inc. NY now owns 3,028,002 shares of the company's stock valued at $84,239,000 after acquiring an additional 2,145,318 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of ON by 2.7% during the 3rd quarter. Invesco Ltd. now owns 2,908,297 shares of the company's stock valued at $80,909,000 after acquiring an additional 76,518 shares in the last quarter. Institutional investors and hedge funds 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.