ON (NYSE:ONON) Given Outperform Rating at Telsey Advisory Group

ON (NYSE:ONON)‘s stock had its “outperform” rating reissued by analysts at Telsey Advisory Group in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $67.00 target price on the stock. Telsey Advisory Group’s price target would indicate a potential upside of 27.33% from the company’s current price.

A number of other equities research analysts have also weighed in on ONON. Citigroup initiated coverage on ON in a research report on Wednesday, December 18th. They issued a “neutral” rating and a $65.00 price objective on the stock. Barclays raised their price objective on shares of 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 on the stock in a report on Wednesday, November 13th. Williams Trading upgraded ON from a “hold” rating to a “buy” rating and raised their target price for the company from $40.00 to $60.00 in a research note on Wednesday, November 13th. Finally, Robert W. Baird increased their price target on shares of ON from $55.00 to $63.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Five investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $60.36.

ON Trading Up 3.9 %

Shares of NYSE:ONON opened at $52.62 on Tuesday. The company has a market cap of $33.13 billion, a price-to-earnings ratio of 122.37, a price-to-earnings-growth ratio of 1.02 and a beta of 2.30. ON has a 12 month low of $27.37 and a 12 month high of $64.05. The company has a 50-day moving average price of $55.29 and a 200-day moving average price of $52.50.

Hedge Funds Weigh In On ON

Several institutional investors have recently made changes to their positions in the business. Park Square Financial Group LLC purchased a new stake in shares of ON in the 4th quarter worth $32,000. Azzad Asset Management Inc. ADV increased its position in ON by 0.4% in the fourth quarter. Azzad Asset Management Inc. ADV now owns 146,393 shares of the company’s stock worth $8,018,000 after buying an additional 608 shares in the last quarter. Bernard Wealth Management Corp. bought a new position in shares of ON in the fourth quarter worth about $44,000. B. Riley Wealth Advisors Inc. boosted its position in shares of ON by 9.8% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 8,105 shares of the company’s stock worth $444,000 after purchasing an additional 726 shares during the period. Finally, Mackenzie Financial Corp purchased a new stake in shares of ON in the fourth quarter worth $425,000. Institutional investors 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.