ON (NYSE:ONON) Now Covered by Analysts at William Blair

Investment analysts at William Blair started coverage on shares of ON (NYSE:ONON) in a report released on Tuesday, Briefing.com reports. The brokerage set an “outperform” rating on the stock.

Other equities research analysts also recently issued reports about the company. Piper Sandler increased their price target on ON from $37.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. Morgan Stanley reaffirmed an “overweight” rating and set a $32.00 price target on shares of ON in a research report on Thursday, April 11th. Stifel Nicolaus reaffirmed a “buy” rating and set a $40.00 price target on shares of ON in a research report on Tuesday, March 5th. Truist Financial increased their price target on ON from $29.00 to $30.00 and gave the stock a “hold” rating in a research report on Wednesday, March 13th. Finally, Evercore ISI lowered their target price on shares of ON from $40.00 to $37.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 13th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $37.13.

ON Price Performance

NYSE ONON opened at $32.21 on Tuesday. The stock’s fifty day moving average price is $32.74 and its 200 day moving average price is $29.21. ON has a 1 year low of $23.41 and a 1 year high of $37.08. The company has a market cap of $20.28 billion, a price-to-earnings ratio of 119.30, a PEG ratio of 1.28 and a beta of 2.16.

ON (NYSE:ONON) last released its earnings results on Tuesday, March 12th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.18). The firm had revenue of $504.69 million during the quarter, compared to analyst estimates of $515.30 million. ON had a net margin of 4.04% and a return on equity of 6.85%. Research analysts expect that ON will post 0.67 earnings per share for the current year.

Institutional Trading of ON

A number of hedge funds and other institutional investors have recently made changes to their positions in ONON. Durable Capital Partners LP increased its holdings in ON by 114.5% in the 1st quarter. Durable Capital Partners LP now owns 11,028,390 shares of the company’s stock valued at $278,357,000 after purchasing an additional 5,887,034 shares during the last quarter. Macquarie Group Ltd. lifted its position in ON by 25.2% in the second quarter. Macquarie Group Ltd. now owns 8,289,119 shares of the company’s stock valued at $146,635,000 after acquiring an additional 1,670,574 shares during the last quarter. Jennison Associates LLC lifted its position in ON by 7.6% in the third quarter. Jennison Associates LLC now owns 7,887,000 shares of the company’s stock valued at $219,416,000 after acquiring an additional 554,513 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of ON by 109.3% in the third quarter. American Century Companies Inc. now owns 6,566,787 shares of the company’s stock valued at $182,688,000 after buying an additional 3,428,794 shares during the last quarter. Finally, Capital Research Global Investors raised its holdings in shares of ON by 4.8% in the first quarter. Capital Research Global Investors now owns 4,233,780 shares of the company’s stock valued at $106,861,000 after buying an additional 195,301 shares during the last quarter. Institutional investors and hedge funds 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.