ON (NYSE:ONON) Receives New Coverage from Analysts at William Blair

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

A number of other research firms also recently commented on ONON. Evercore ISI decreased their target price on ON from $40.00 to $37.00 and set an outperform rating on the stock in a research report on Wednesday, March 13th. Redburn Atlantic reaffirmed a neutral rating and issued a $34.00 price target on shares of ON in a report on Thursday, March 7th. Barclays started coverage on shares of ON in a research note on Monday, April 1st. They set an overweight rating and a $38.00 price objective for the company. Truist Financial raised 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, Telsey Advisory Group restated an outperform rating and issued a $37.00 price objective on shares of ON in a research report on Wednesday, March 6th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $37.13.

ON Stock Performance

Shares of NYSE ONON opened at $32.56 on Tuesday. The company’s fifty day moving average is $32.84 and its two-hundred day moving average is $29.25. The firm has a market capitalization of $20.50 billion, a P/E ratio of 120.57, a PEG ratio of 1.28 and a beta of 2.16. ON has a one year low of $23.41 and a one year high of $37.08.

ON (NYSE:ONON) last released its quarterly earnings data on Tuesday, March 12th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $515.30 million. On average, sell-side analysts forecast that ON will post 0.67 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ON

A number of institutional investors have recently bought and sold shares of ONON. Durable Capital Partners LP grew its stake in shares of ON by 114.5% during the 1st quarter. Durable Capital Partners LP now owns 11,028,390 shares of the company’s stock valued at $278,357,000 after buying an additional 5,887,034 shares during the period. American Century Companies Inc. increased its stake in ON by 109.3% during the third quarter. American Century Companies Inc. now owns 6,566,787 shares of the company’s stock worth $182,688,000 after acquiring an additional 3,428,794 shares during the last quarter. 1832 Asset Management L.P. increased its stake in ON by 1,022.9% during the first quarter. 1832 Asset Management L.P. now owns 2,542,200 shares of the company’s stock worth $78,884,000 after acquiring an additional 2,315,800 shares during the last quarter. Norges Bank acquired a new position in shares of ON in the 4th quarter valued at about $57,916,000. Finally, Bamco Inc. NY grew its holdings 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 worth $84,239,000 after purchasing an additional 2,145,318 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.