ON (NYSE:ONON) Rating Reiterated by Telsey Advisory Group

ON (NYSE:ONON)‘s stock had its “outperform” rating reiterated by analysts at Telsey Advisory Group in a research note issued on Tuesday, Benzinga reports. They currently have a $47.00 price objective on the stock. Telsey Advisory Group’s price target suggests a potential upside of 15.91% from the company’s current price.

ONON has been the subject of a number of other research reports. UBS Group upped their price target on ON from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. JPMorgan Chase & Co. raised their price target on ON from $40.00 to $47.00 and gave the stock an “overweight” rating in a research note on Monday, June 17th. Stifel Nicolaus raised their price target on ON from $41.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday. William Blair initiated coverage on shares of ON in a research note on Tuesday, April 16th. They set an “outperform” rating on the stock. Finally, Truist Financial reaffirmed a “buy” rating and set a $46.00 target price on shares of ON in a research note on Tuesday, June 18th. Two investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $45.11.

ON Stock Performance

Shares of ON stock opened at $40.55 on Tuesday. The company’s 50 day moving average price is $39.61 and its 200-day moving average price is $35.67. ON has a 52-week low of $23.41 and a 52-week high of $44.30. The stock has a market capitalization of $25.53 billion, a price-to-earnings ratio of 92.16, a P/E/G ratio of 1.16 and a beta of 2.22.

ON (NYSE:ONON) last released its quarterly earnings data on Tuesday, May 14th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.20. ON had a net margin of 6.46% and a return on equity of 11.13%. The firm had revenue of $581.41 million for the quarter, compared to analysts’ expectations of $555.52 million. As a group, equities research analysts forecast that ON will post 0.79 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ON

A number of hedge funds have recently added to or reduced their stakes in the stock. Ameritas Advisory Services LLC boosted its position in ON by 1.3% during the 2nd quarter. Ameritas Advisory Services LLC now owns 23,806 shares of the company’s stock valued at $924,000 after acquiring an additional 300 shares in the last quarter. Artemis Investment Management LLP increased its position in shares of ON by 1.9% in the 2nd quarter. Artemis Investment Management LLP now owns 16,410 shares of the company’s stock valued at $637,000 after acquiring an additional 302 shares during the period. Crossmark Global Holdings Inc. increased its position in shares of ON by 3.2% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 10,423 shares of the company’s stock valued at $404,000 after acquiring an additional 325 shares during the period. Asset Dedication LLC raised its position in ON by 25.8% during the second quarter. Asset Dedication LLC now owns 1,592 shares of the company’s stock valued at $62,000 after acquiring an additional 327 shares in the last quarter. Finally, King Luther Capital Management Corp lifted its stake in shares of ON by 0.7% in the 2nd quarter. King Luther Capital Management Corp now owns 56,021 shares of the company’s stock valued at $2,174,000 after purchasing an additional 405 shares during the period. 33.11% of the stock is currently owned by institutional investors.

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.