ON’s (ONON) Overweight Rating Reaffirmed at Morgan Stanley

ON (NYSE:ONON)‘s stock had its “overweight” rating restated by equities research analysts at Morgan Stanley in a report issued on Monday, Benzinga reports. They currently have a $32.00 price objective on the stock. Morgan Stanley’s target price indicates a potential downside of 1.66% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. Piper Sandler boosted their price target on shares of ON from $37.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. Telsey Advisory Group reissued an “outperform” rating and set a $37.00 price target on shares of ON in a research report on Wednesday, March 6th. William Blair began coverage on shares of ON in a research report on Tuesday, April 16th. They set an “outperform” rating on the stock. Evercore ISI lowered their price target on shares of ON from $40.00 to $37.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 13th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $40.00 price target on shares of ON in a research report on Tuesday, March 5th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, ON presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.13.

ON Stock Up 1.9 %

Shares of ONON opened at $32.54 on Monday. ON has a 52-week low of $23.41 and a 52-week high of $37.08. The firm’s fifty day moving average is $33.12 and its two-hundred day moving average is $29.45. The stock has a market cap of $20.49 billion, a PE ratio of 119.93, a price-to-earnings-growth ratio of 1.10 and a beta of 2.16.

ON (NYSE:ONON) last announced 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). ON had a return on equity of 6.85% and a net margin of 4.04%. The business had revenue of $504.69 million for the quarter, compared to analyst estimates of $515.30 million. As a group, research analysts anticipate that ON will post 0.65 earnings per share for the current year.

Institutional Trading of ON

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Asset Management One Co. Ltd. increased its stake in ON by 20.6% during the fourth quarter. Asset Management One Co. Ltd. now owns 2,145 shares of the company’s stock worth $60,000 after purchasing an additional 367 shares during the period. Janney Capital Management LLC increased its stake in shares of ON by 2.7% during the third quarter. Janney Capital Management LLC now owns 14,450 shares of the company’s stock worth $402,000 after buying an additional 384 shares during the period. Pittenger & Anderson Inc. increased its stake in shares of ON by 34.8% during the third quarter. Pittenger & Anderson Inc. now owns 1,550 shares of the company’s stock worth $43,000 after buying an additional 400 shares during the period. Spire Wealth Management increased its stake in shares of ON by 91.0% during the third quarter. Spire Wealth Management now owns 972 shares of the company’s stock worth $27,000 after buying an additional 463 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in shares of ON by 63.7% during the third quarter. PNC Financial Services Group Inc. now owns 1,521 shares of the company’s stock worth $42,000 after buying an additional 592 shares during the period. 33.11% of the stock is currently owned by hedge funds and other 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.