ON (NYSE:ONON) Stock Price Expected to Rise, Telsey Advisory Group Analyst Says

ON (NYSE:ONON) had its price target raised by stock analysts at Telsey Advisory Group from $47.00 to $53.00 in a report issued on Wednesday, MarketBeat Ratings reports. The firm currently has an “outperform” rating on the stock. Telsey Advisory Group’s price objective suggests a potential upside of 5.20% from the company’s previous close.

Other analysts have also recently issued reports about the company. Bank of America raised ON from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $21.00 to $55.00 in a report on Monday, September 23rd. KeyCorp lifted their price target on ON from $47.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, September 26th. HSBC started coverage on ON in a report on Thursday, September 5th. They set a “hold” rating and a $52.00 price target for the company. Truist Financial lifted their price target on ON from $51.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Finally, TD Cowen lifted their price target on ON from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $50.37.

ON Trading Up 5.9 %

Shares of NYSE ONON opened at $50.38 on Wednesday. ON has a 12 month low of $24.15 and a 12 month high of $52.80. The stock has a 50 day moving average of $48.76 and a 200-day moving average of $42.33. The company has a market capitalization of $31.72 billion, a P/E ratio of 95.06 and a beta of 2.25.

ON (NYSE:ONON) last issued its earnings results on Tuesday, August 13th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.04). ON had a return on equity of 13.02% and a net margin of 7.42%. The business had revenue of $627.66 million for the quarter, compared to the consensus estimate of $634.43 million. Analysts predict that ON will post 0.76 EPS for the current fiscal year.

Institutional Investors Weigh In On ON

A number of institutional investors have recently made changes to their positions in the stock. MidAtlantic Capital Management Inc. bought a new stake in shares of ON in the 3rd quarter valued at about $29,000. RiverPark Advisors LLC bought a new stake in shares of ON in the 3rd quarter valued at about $175,000. Accredited Investors Inc. bought a new stake in shares of ON in the 3rd quarter valued at about $256,000. River Street Advisors LLC bought a new stake in shares of ON in the 3rd quarter valued at about $183,000. Finally, OneDigital Investment Advisors LLC bought a new stake in shares of ON in the 3rd quarter valued at about $254,000. Institutional investors own 33.11% of the company’s stock.

ON Company Profile

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.