ON’s (ONON) “Outperform” Rating Reiterated at Telsey Advisory Group

ON (NYSE:ONON)‘s stock had its “outperform” rating reissued by Telsey Advisory Group in a research note issued on Tuesday,Benzinga reports. They presently have a $67.00 price objective on the stock. Telsey Advisory Group’s target price would suggest a potential upside of 61.23% from the company’s current price.

Several other equities analysts have also commented on the stock. Barclays upped their price target on shares of ON from $63.00 to $64.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Jefferies Financial Group started coverage on shares of ON in a research note on Tuesday. They issued a “hold” rating and a $44.00 price target on the stock. KeyCorp reissued an “overweight” rating and issued a $68.00 price objective on shares of ON in a report on Wednesday, March 5th. TD Cowen lifted their target price on ON from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $64.00 price target on shares of ON in a research note on Tuesday, March 4th. Three analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $61.09.

ON Price Performance

Shares of NYSE ONON traded down $2.36 during mid-day trading on Tuesday, hitting $41.56. The company had a trading volume of 1,067,848 shares, compared to its average volume of 4,363,351. The stock has a market cap of $26.17 billion, a price-to-earnings ratio of 96.81, a PEG ratio of 1.02 and a beta of 2.35. The firm’s 50 day simple moving average is $51.85 and its two-hundred day simple moving average is $52.68. ON has a 12 month low of $29.84 and a 12 month high of $64.05.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ONON. Bank of Montreal Can increased its holdings in shares of ON by 27.2% in the 3rd quarter. Bank of Montreal Can now owns 46,320 shares of the company’s stock valued at $2,368,000 after purchasing an additional 9,895 shares during the period. Townsquare Capital LLC acquired a new position in ON in the 3rd quarter valued at approximately $609,000. Rockefeller Capital Management L.P. boosted its stake in shares of ON by 5.0% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 58,339 shares of the company’s stock valued at $2,926,000 after buying an additional 2,755 shares during the period. Verition Fund Management LLC grew its holdings in shares of ON by 94.0% during the 3rd quarter. Verition Fund Management LLC now owns 125,878 shares of the company’s stock valued at $6,313,000 after acquiring an additional 60,976 shares in the last quarter. Finally, Paloma Partners Management Co acquired a new position in shares of ON in the third quarter worth $336,000. 36.39% of the stock is owned by institutional investors and hedge funds.

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