Morgan Stanley Raises ON (NYSE:ONON) Price Target to $35.00

ON (NYSE:ONON) had its target price lifted by Morgan Stanley from $32.00 to $35.00 in a research report report published on Monday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other equities analysts also recently issued research reports about the stock. Barclays started coverage on shares of ON in a research note on Monday, April 1st. They set an overweight rating and a $38.00 target price for the company. TD Cowen lifted their price objective on ON from $36.00 to $38.00 and gave the company a buy rating in a research note on Thursday, May 2nd. TheStreet cut ON from a c rating to a d+ rating in a research note on Monday, March 18th. William Blair assumed coverage on ON in a research report on Tuesday, April 16th. They issued an outperform rating for the company. Finally, Piper Sandler increased their price objective 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. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, ON currently has an average rating of Moderate Buy and an average price target of $37.53.

ON Stock Down 3.0 %

NYSE ONON opened at $32.98 on Monday. The stock’s 50 day moving average is $33.23 and its 200 day moving average is $30.07. The firm has a market capitalization of $20.77 billion, a PE ratio of 122.15, a P/E/G ratio of 1.16 and a beta of 2.17. ON has a twelve month low of $23.41 and a twelve month high of $37.08.

ON (NYSE:ONON) last announced its earnings results on Tuesday, March 12th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.18). The business had revenue of $504.69 million for 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 anticipate that ON will post 0.65 earnings per share for the current year.

Institutional Trading of ON

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Jennison Associates LLC grew its stake 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 acquiring an additional 554,513 shares during the period. American Century Companies Inc. boosted its position 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 worth $182,688,000 after purchasing an additional 3,428,794 shares during the period. William Blair Investment Management LLC purchased a new stake in shares of ON in the first quarter worth $121,712,000. 1832 Asset Management L.P. raised its position in shares of ON by 36.2% during the 4th quarter. 1832 Asset Management L.P. now owns 3,160,000 shares of the company’s stock valued at $85,225,000 after purchasing an additional 840,600 shares during the period. Finally, Bamco Inc. NY lifted its stake in shares of ON by 243.0% during the 3rd quarter. Bamco Inc. NY now owns 3,028,002 shares of the company’s stock valued at $84,239,000 after buying an additional 2,145,318 shares in the last quarter. Hedge funds and other institutional investors own 33.11% of the company’s stock.

About ON

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.