Telsey Advisory Group Reaffirms “Outperform” Rating for ON (NYSE:ONON)

ON (NYSE:ONON)‘s stock had its “outperform” rating reaffirmed by investment analysts at Telsey Advisory Group in a report released on Tuesday,Benzinga reports. They presently have a $65.00 price objective on the stock. Telsey Advisory Group’s target price would indicate a potential upside of 13.32% from the stock’s current price.

Several other equities research analysts have also commented on ONON. HSBC raised shares of ON from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a report on Tuesday, March 11th. UBS Group increased their price objective on shares of ON from $56.00 to $59.00 and gave the company a “buy” rating in a report on Monday, April 28th. Piper Sandler decreased their price objective on shares of ON from $62.00 to $55.00 and set an “overweight” rating on the stock in a report on Friday, April 11th. KeyCorp decreased their price objective on shares of ON from $68.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday, April 29th. Finally, Barclays decreased their price objective on shares of ON from $64.00 to $52.00 and set an “overweight” rating on the stock in a report on Monday. Two investment analysts have rated the stock with a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, ON has an average rating of “Buy” and an average target price of $61.73.

ON Price Performance

ON stock opened at $57.36 on Tuesday. The stock has a market capitalization of $36.12 billion, a PE ratio of 133.40, a price-to-earnings-growth ratio of 1.02 and a beta of 2.30. The business has a 50 day simple moving average of $45.55 and a 200-day simple moving average of $51.56. ON has a 12 month low of $34.59 and a 12 month high of $64.05.

Hedge Funds Weigh In On ON

Institutional investors have recently bought and sold shares of the company. Park Square Financial Group LLC purchased a new position in ON during the fourth quarter worth about $32,000. TCTC Holdings LLC raised its stake in ON by 118.4% during the first quarter. TCTC Holdings LLC now owns 581 shares of the company’s stock worth $26,000 after purchasing an additional 315 shares during the period. Montag A & Associates Inc. purchased a new position in ON during the first quarter worth about $26,000. MassMutual Private Wealth & Trust FSB purchased a new position in ON during the first quarter worth about $32,000. Finally, Legacy Bridge LLC purchased a new position in ON during the fourth quarter worth about $43,000. 36.39% of the stock is owned by hedge funds and other institutional investors.

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, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.