Telsey Advisory Group Boosts ON (NYSE:ONON) Price Target to $53.00

ON (NYSE:ONON) had its price target boosted by equities researchers at Telsey Advisory Group from $47.00 to $53.00 in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. The brokerage currently has an “outperform” rating on the stock. Telsey Advisory Group’s target price indicates a potential upside of 5.20% from the stock’s current price.

Several other research firms have also weighed in on ONON. Stifel Nicolaus increased their target price on ON from $45.00 to $59.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Raymond James initiated coverage on ON in a research note on Wednesday, July 31st. They issued an “outperform” rating and a $46.00 target price on the stock. Piper Sandler increased their target price on ON from $52.00 to $56.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. TD Cowen increased their target price on ON from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Finally, UBS Group raised their price target on ON from $55.00 to $61.00 and gave the stock a “buy” rating in a research report on Monday. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, ON has a consensus rating of “Moderate Buy” and a consensus price target of $50.37.

ON Stock Up 5.9 %

ON stock opened at $50.38 on Wednesday. The business’s 50-day simple moving average is $48.76 and its 200 day simple moving average is $42.33. The stock has a market cap of $31.72 billion, a price-to-earnings ratio of 95.06 and a beta of 2.25. ON has a 12-month low of $24.15 and a 12-month high of $52.80.

ON (NYSE:ONON) last posted its quarterly earnings results on Tuesday, August 13th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.04). ON had a net margin of 7.42% and a return on equity of 13.02%. The firm had revenue of $627.66 million during the quarter, compared to the consensus estimate of $634.43 million. As a group, sell-side analysts expect that ON will post 0.76 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Blue Trust Inc. grew its holdings in shares of ON by 319.8% during the third quarter. Blue Trust Inc. now owns 529 shares of the company’s stock worth $27,000 after buying an additional 403 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new position in ON in the third quarter valued at approximately $29,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in ON by 210.5% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock valued at $28,000 after purchasing an additional 400 shares in the last quarter. Quarry LP bought a new position in ON in the second quarter valued at approximately $32,000. Finally, MFA Wealth Advisors LLC bought a new position in ON in the third quarter valued at approximately $50,000. 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.