ON’s (ONON) “Overweight” Rating Reiterated at Morgan Stanley

Morgan Stanley reiterated their overweight rating on shares of ON (NYSE:ONON) in a report released on Monday, Benzinga reports. The brokerage currently has a $32.00 price objective on the stock.

Other equities research analysts have also issued reports about the stock. Redburn Atlantic reiterated a neutral rating and set a $34.00 target price on shares of ON in a research note on Thursday, March 7th. Stifel Nicolaus reiterated a buy rating and set a $40.00 target price on shares of ON in a research note on Tuesday, March 5th. William Blair started coverage on shares of ON in a research note on Tuesday, April 16th. They set an outperform rating for the company. TheStreet lowered shares of ON from a c rating to a d+ rating in a research note on Monday, March 18th. Finally, Truist Financial boosted their target price on shares of ON from $29.00 to $30.00 and gave the company a hold rating in a research note on Wednesday, March 13th. Four 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 a consensus rating of Moderate Buy and a consensus target price of $37.13.

ON Trading Down 0.6 %

ONON stock opened at $32.35 on Monday. The stock has a market capitalization of $20.37 billion, a PE ratio of 121.52, a price-to-earnings-growth ratio of 1.12 and a beta of 2.16. ON has a 12-month low of $23.41 and a 12-month high of $37.08. The stock’s 50 day simple moving average is $33.17 and its 200 day simple moving average is $29.50.

ON (NYSE:ONON) last released its quarterly earnings data 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 business had revenue of $504.69 million during the quarter, compared to the consensus estimate of $515.30 million. ON had a net margin of 4.04% and a return on equity of 6.85%. On average, research analysts predict that ON will post 0.65 earnings per share for the current year.

Institutional Investors Weigh In On ON

Institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC increased its stake in ON by 4.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,708,416 shares of the company’s stock worth $46,076,000 after buying an additional 76,746 shares in the last quarter. Liontrust Investment Partners LLP increased its stake in ON by 204.7% in the 3rd quarter. Liontrust Investment Partners LLP now owns 517,942 shares of the company’s stock worth $14,410,000 after buying an additional 347,942 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of ON by 7.6% during the 3rd quarter. Jennison Associates LLC now owns 7,887,000 shares of the company’s stock valued at $219,416,000 after purchasing an additional 554,513 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in shares of ON by 127.9% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 131,585 shares of the company’s stock valued at $3,549,000 after purchasing an additional 73,839 shares during the last quarter. Finally, Baltimore Washington Financial Advisors Inc. boosted its holdings in shares of ON by 10.3% during the 3rd quarter. Baltimore Washington Financial Advisors Inc. now owns 292,338 shares of the company’s stock valued at $8,133,000 after purchasing an additional 27,206 shares during the last quarter. Hedge funds and other 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.