ON (NYSE:ONON) Receives “Outperform” Rating from Telsey Advisory Group

Telsey Advisory Group reissued their outperform rating on shares of ON (NYSE:ONON) in a research report released on Tuesday,Benzinga reports. The brokerage currently has a $67.00 price target on the stock.

ONON has been the subject of several other reports. Barclays upped their target price on ON from $47.00 to $63.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. BTIG Research upgraded ON from a “neutral” rating to a “buy” rating and set a $64.00 target price for the company in a report on Wednesday, November 13th. Williams Trading upgraded ON from a “hold” rating to a “buy” rating and upped their target price for the stock from $40.00 to $60.00 in a report on Wednesday, November 13th. Bank of America started coverage on ON in a report on Tuesday, January 7th. They issued a “buy” rating and a $73.00 target price for the company. Finally, Citigroup started coverage on ON in a report on Wednesday, December 18th. They issued a “neutral” rating and a $65.00 target price for the company. Five research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $59.73.

ON Stock Down 0.7 %

Shares of ON stock opened at $48.43 on Tuesday. The stock’s fifty day moving average is $56.02 and its two-hundred day moving average is $52.24. The company has a market capitalization of $30.49 billion, a PE ratio of 112.62, a price-to-earnings-growth ratio of 1.02 and a beta of 2.30. ON has a 52 week low of $27.37 and a 52 week high of $64.05.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Apollon Wealth Management LLC increased its holdings in shares of ON by 74.0% in the fourth quarter. Apollon Wealth Management LLC now owns 16,005 shares of the company’s stock valued at $877,000 after purchasing an additional 6,808 shares during the period. RB Capital Management LLC increased its holdings in shares of ON by 214.8% in the third quarter. RB Capital Management LLC now owns 22,426 shares of the company’s stock valued at $1,125,000 after purchasing an additional 15,303 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of ON by 34.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,376,850 shares of the company’s stock valued at $76,213,000 after purchasing an additional 349,789 shares during the period. Strategic Financial Concepts LLC acquired a new position in shares of ON in the fourth quarter valued at about $30,000. Finally, Y Intercept Hong Kong Ltd increased its holdings in shares of ON by 584.8% in the third quarter. Y Intercept Hong Kong Ltd now owns 83,651 shares of the company’s stock valued at $4,195,000 after purchasing an additional 71,436 shares during the period. 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.