ON (NYSE:ONON) Research Coverage Started at William Blair

William Blair initiated coverage on shares of ON (NYSE:ONON) in a report released on Tuesday, MarketBeat.com reports. The brokerage issued an outperform rating on the stock.

Several other brokerages have also recently commented on ONON. Truist Financial increased their price target on shares of ON from $29.00 to $30.00 and gave the stock a hold rating in a research report on Wednesday, March 13th. TheStreet lowered shares of ON from a c rating to a d+ rating in a research note on Monday, March 18th. Telsey Advisory Group reiterated an outperform rating and set a $37.00 price objective on shares of ON in a research note on Wednesday, March 6th. Redburn Atlantic reiterated a neutral rating and set a $34.00 price objective on shares of ON in a research note on Thursday, March 7th. Finally, Morgan Stanley reiterated an overweight rating and set a $32.00 price objective on shares of ON in a research note on Thursday, April 11th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $37.13.

ON Stock Performance

Shares of ONON stock opened at $33.01 on Tuesday. ON has a one year low of $23.41 and a one year high of $37.08. The company’s 50-day simple moving average is $33.04 and its 200-day simple moving average is $29.30. The stock has a market capitalization of $20.78 billion, a price-to-earnings ratio of 122.26, a PEG ratio of 1.27 and a beta of 2.16.

ON (NYSE:ONON) last issued its quarterly earnings results on Tuesday, March 12th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.18). ON had a return on equity of 6.85% and a net margin of 4.04%. The company had revenue of $504.69 million for the quarter, compared to the consensus estimate of $515.30 million. As a group, research analysts forecast that ON will post 0.67 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Wasatch Advisors LP bought a new position in shares of ON in the first quarter valued at approximately $14,823,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of ON by 30.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,224,894 shares of the company’s stock valued at $78,717,000 after acquiring an additional 516,478 shares in the last quarter. Wolff Wiese Magana LLC boosted its holdings in shares of ON by 5,034.3% in the first quarter. Wolff Wiese Magana LLC now owns 3,594 shares of the company’s stock valued at $127,000 after acquiring an additional 3,524 shares in the last quarter. WD Rutherford LLC bought a new position in shares of ON in the first quarter valued at approximately $52,000. Finally, KRS Capital Management LLC boosted its holdings in shares of ON by 13.7% in the first quarter. KRS Capital Management LLC now owns 14,075 shares of the company’s stock valued at $498,000 after acquiring an additional 1,700 shares in the last quarter. 33.11% of the stock is currently owned by institutional investors.

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.