ON (NYSE:ONON) Earns "Outperform" Rating from Telsey Advisory Group

Telsey Advisory Group reissued their outperform rating on shares of ON (NYSE:ONON - Free Report) in a research report sent to investors on Wednesday,Benzinga reports. They currently have a $67.00 price objective on the stock.

ONON has been the subject of several other research reports. Bank of America started coverage on shares of ON in a report on Tuesday, January 7th. They issued a "buy" rating and a $73.00 price target for the company. TD Cowen upped their target price on ON from $65.00 to $66.00 and gave the stock a "buy" rating in a report on Wednesday, January 8th. UBS Group reiterated a "buy" rating and issued a $63.00 price target on shares of ON in a report on Friday, December 27th. Needham & Company LLC initiated coverage on ON in a research report on Friday, November 22nd. They issued a "buy" rating and a $64.00 price target for the company. Finally, BTIG Research raised ON from a "neutral" rating to a "buy" rating and set a $64.00 price objective on the stock in a research report on Wednesday, November 13th. Four analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, ON presently has an average rating of "Moderate Buy" and a consensus price target of $58.50.

ON Stock Performance

Shares of ON stock remained flat at $54.50 during trading on Wednesday. The stock had a trading volume of 1,418,024 shares, compared to its average volume of 2,610,583. ON has a 1 year low of $26.03 and a 1 year high of $60.12. The firm's 50-day moving average is $55.62 and its two-hundred day moving average is $48.51. The stock has a market cap of $34.32 billion, a price-to-earnings ratio of 126.75 and a beta of 2.30.

Institutional Trading of ON

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capital Advisors Inc. OK raised its stake in shares of ON by 5.1% in the third quarter. Capital Advisors Inc. OK now owns 6,186 shares of the company's stock worth $310,000 after purchasing an additional 301 shares during the last quarter. Sage Capital Advisors llc raised its position in ON by 0.3% during the 3rd quarter. Sage Capital Advisors llc now owns 99,859 shares of the company's stock worth $5,008,000 after buying an additional 328 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its stake in ON by 210.5% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company's stock valued at $28,000 after acquiring an additional 400 shares during the period. Blue Trust Inc. boosted its holdings in shares of ON by 319.8% in the 3rd quarter. Blue Trust Inc. now owns 529 shares of the company's stock valued at $27,000 after acquiring an additional 403 shares during the last quarter. Finally, King Luther Capital Management Corp increased its stake in shares of ON by 0.7% in the second quarter. King Luther Capital Management Corp now owns 56,021 shares of the company's stock worth $2,174,000 after acquiring an additional 405 shares during the period. Institutional investors and hedge funds own 36.39% of the company's stock.

About ON

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.