ON (NYSE:ONON) Receives “Overweight” Rating from Morgan Stanley

Morgan Stanley reaffirmed their overweight rating on shares of ON (NYSE:ONON) in a research report sent to investors on Monday, Benzinga reports. Morgan Stanley currently has a $32.00 price target on the stock.

ONON has been the topic of several other reports. Barclays began coverage on shares of ON in a research report on Monday, April 1st. They issued an overweight rating and a $38.00 price target on the stock. 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. Stifel Nicolaus restated a buy rating and set a $40.00 price objective on shares of ON in a research report on Tuesday, March 5th. William Blair assumed coverage on shares of ON in a research report on Tuesday, April 16th. They set an outperform rating on the stock. Finally, Evercore ISI decreased their price objective 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. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $37.13.

ON Trading Up 1.1 %

Shares of ONON stock opened at $31.94 on Monday. ON has a 12-month low of $23.41 and a 12-month high of $37.08. The stock has a market capitalization of $20.11 billion, a P/E ratio of 118.30, a P/E/G ratio of 1.10 and a beta of 2.16. The firm’s 50 day moving average is $33.08 and its 200 day moving average is $29.39.

ON (NYSE:ONON) last released its quarterly earnings results on Tuesday, March 12th. The company reported ($0.09) earnings per share 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 during the quarter, compared to the consensus estimate of $515.30 million. As a group, equities analysts predict 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 ONON. Spire Wealth Management increased its holdings in ON by 91.0% in the 3rd quarter. Spire Wealth Management now owns 972 shares of the company’s stock valued at $27,000 after acquiring an additional 463 shares during the last quarter. Orion Capital Management LLC grew its stake in shares of ON by 1,100.0% in the 4th quarter. Orion Capital Management LLC now owns 1,200 shares of the company’s stock worth $32,000 after buying an additional 1,100 shares in the last quarter. VisionPoint Advisory Group LLC purchased a new position in shares of ON in the 4th quarter worth $32,000. Global Wealth Management Investment Advisory Inc. purchased a new position in shares of ON in the 4th quarter worth $33,000. Finally, Asset Dedication LLC purchased a new position in shares of ON in the 3rd quarter worth $35,000. 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.