ON (NYSE:ONON) Now Covered by Analysts at William Blair

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

A number of other equities research analysts have also recently weighed in on ONON. Piper Sandler increased their price target on ON from $37.00 to $39.00 and gave the company an overweight rating in a research note on Thursday, March 21st. Telsey Advisory Group restated an outperform rating and issued a $37.00 price target on shares of ON in a research note on Wednesday, March 6th. Barclays assumed coverage on ON in a research note on Monday, April 1st. They issued an overweight rating and a $38.00 price target on the stock. Morgan Stanley restated an overweight rating and issued a $32.00 price target on shares of ON in a research note on Thursday, April 11th. Finally, Truist Financial increased their price target on ON from $29.00 to $30.00 and gave the company a hold rating in a research note on Wednesday, March 13th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, ON has an average rating of Moderate Buy and a consensus price target of $37.13.

ON Stock Down 4.3 %

Shares of ON stock opened at $31.60 on Tuesday. ON has a 12-month low of $23.41 and a 12-month high of $37.08. The stock has a market cap of $19.89 billion, a P/E ratio of 117.02, a P/E/G ratio of 1.13 and a beta of 2.16. The business’s 50 day moving average is $33.08 and its 200-day moving average is $29.34.

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

Institutional Trading of ON

Several large investors have recently modified their holdings of ONON. Durable Capital Partners LP grew its holdings 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 worth $278,357,000 after purchasing an additional 5,887,034 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of ON by 109.3% during the 3rd 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 in the last quarter. 1832 Asset Management L.P. grew its holdings in shares of ON by 1,022.9% during the 1st quarter. 1832 Asset Management L.P. now owns 2,542,200 shares of the company’s stock worth $78,884,000 after purchasing an additional 2,315,800 shares in the last quarter. Norges Bank acquired a new stake in shares of ON during the 4th quarter worth $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 in the last quarter. 33.11% of the stock is owned by institutional investors and hedge funds.

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.