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

ON (NYSE:ONON)‘s stock had its “outperform” rating reaffirmed by stock analysts at Telsey Advisory Group in a research report issued on Thursday,Benzinga reports. They presently have a $65.00 price objective on the stock. Telsey Advisory Group’s target price would suggest a potential upside of 52.91% from the stock’s previous close.

Several other equities analysts have also recently weighed in on ONON. Raymond James Financial cut their price target on ON from $66.00 to $55.00 and set an “outperform” rating for the company in a report on Tuesday, October 21st. Needham & Company LLC decreased their price target on ON from $62.00 to $52.00 and set a “buy” rating for the company in a research note on Wednesday. Truist Financial decreased their target price on ON from $69.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, November 10th. Morgan Stanley lifted their price objective on shares of ON from $62.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, August 13th. Finally, Bank of America upped their target price on shares of ON from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, ON currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.14.

ON Stock Up 0.3%

Shares of ONON stock opened at $42.51 on Thursday. ON has a one year low of $34.38 and a one year high of $64.05. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.53 and a quick ratio of 2.00. The company has a market capitalization of $26.77 billion, a price-to-earnings ratio of 55.21, a PEG ratio of 5.27 and a beta of 2.18. The company’s fifty day moving average price is $41.63 and its 200-day moving average price is $48.18.

ON (NYSE:ONON) last released its earnings results on Tuesday, August 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.35). ON had a return on equity of 15.47% and a net margin of 7.45%.The business had revenue of $944.29 million for the quarter, compared to analysts’ expectations of $707.74 million. During the same quarter in the prior year, the business posted $0.14 EPS. The business’s revenue for the quarter was up 32.0% compared to the same quarter last year. Sell-side analysts expect that ON will post 0.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ONON. Washington Trust Advisors Inc. purchased a new position in ON during the 2nd quarter worth approximately $29,000. TCTC Holdings LLC raised its position in shares of ON by 118.4% in the first quarter. TCTC Holdings LLC now owns 581 shares of the company’s stock worth $26,000 after acquiring an additional 315 shares during the period. Montag A & Associates Inc. purchased a new position in shares of ON during the 1st quarter valued at approximately $26,000. Smartleaf Asset Management LLC boosted its holdings in ON by 3,392.6% in the 1st quarter. Smartleaf Asset Management LLC now owns 943 shares of the company’s stock worth $42,000 after buying an additional 916 shares during the last quarter. Finally, Ramirez Asset Management Inc. acquired a new stake in shares of ON in the first quarter valued at about $44,000. 36.39% of the stock is currently 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.