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

Key Points

• ON Holding AG's stock received an "outperform" rating from Telsey Advisory Group with a $65.00 price target, indicating a potential upside of 38.86% from its current price.
• Overall, the stock is rated as "Moderate Buy", with 19 analysts assigning a buy rating and an average target price of $64.00.
• Institutional investors hold 36.39% of the company's stock, with significant recent increases in stakes from firms like Kestra Private Wealth Services LLC and BNP Paribas Financial Markets.

Telsey Advisory Group reaffirmed their outperform rating on shares of ON (NYSE:ONON - Free Report) in a report published on Thursday,Benzinga reports. Telsey Advisory Group currently has a $65.00 target price on the stock.

Several other equities research analysts have also commented on ONON. Stifel Nicolaus lifted their price target on shares of ON from $57.00 to $66.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Morgan Stanley cut their price target on shares of ON from $66.00 to $62.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Cowen reissued a "buy" rating on shares of ON in a research report on Wednesday, May 14th. Barclays set a $68.00 price objective on shares of ON in a research report on Wednesday, May 14th. Finally, Citigroup raised shares of ON from a "neutral" rating to a "buy" rating and lowered their price objective for the stock from $65.00 to $60.00 in a research report on Monday, April 28th. Two research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $64.00.

ON Stock Up 1.0%

NYSE:ONON traded up $0.45 during midday trading on Thursday, hitting $45.61. 6,706,134 shares of the company were exchanged, compared to its average volume of 5,355,354. The company has a fifty day simple moving average of $52.56 and a 200 day simple moving average of $51.12. ON has a fifty-two week low of $34.59 and a fifty-two week high of $64.05. The company has a current ratio of 2.80, a quick ratio of 2.18 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $28.72 billion, a PE ratio of 65.16, a price-to-earnings-growth ratio of 2.58 and a beta of 2.24.

Hedge Funds Weigh In On ON

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. raised its position in ON by 1.0% during the second quarter. Rockefeller Capital Management L.P. now owns 56,618 shares of the company's stock worth $2,947,000 after acquiring an additional 564 shares during the last quarter. Cetera Investment Advisers raised its position in ON by 3.6% during the second quarter. Cetera Investment Advisers now owns 50,046 shares of the company's stock worth $2,605,000 after acquiring an additional 1,742 shares during the last quarter. Carl P. Sherr & Co. LLC raised its position in ON by 9.8% during the second quarter. Carl P. Sherr & Co. LLC now owns 11,200 shares of the company's stock worth $583,000 after acquiring an additional 1,000 shares during the last quarter. Fiera Capital Corp acquired a new position in ON during the second quarter worth about $36,862,000. Finally, Impax Asset Management Group plc raised its position in ON by 38.5% during the second quarter. Impax Asset Management Group plc now owns 51,175 shares of the company's stock worth $2,664,000 after acquiring an additional 14,233 shares during the last quarter. Institutional investors and hedge funds 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, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.