ON (NYSE:ONON) Now Covered by William Blair

William Blair initiated 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 analysts also recently weighed in on ONON. Piper Sandler raised their target price 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. Evercore ISI decreased their target price on shares of ON from $40.00 to $37.00 and set an outperform rating for the company in a research report on Wednesday, March 13th. TheStreet cut shares of ON from a c rating to a d+ rating in a research note on Monday, March 18th. Redburn Atlantic reiterated a neutral rating and issued a $34.00 price target on shares of ON in a research note on Thursday, March 7th. Finally, Telsey Advisory Group reiterated an outperform rating and issued a $37.00 price target on shares of ON in a research note 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. According to MarketBeat.com, ON currently has an average rating of Moderate Buy and an average price target of $37.13.

ON Stock Down 1.1 %

Shares of ONON stock opened at $33.01 on Tuesday. The company has a market capitalization of $20.78 billion, a price-to-earnings ratio of 122.26, a P/E/G ratio of 1.27 and a beta of 2.16. ON has a 12-month low of $23.41 and a 12-month high of $37.08. The firm has a fifty day moving average of $33.04 and a 200-day moving average of $29.30.

ON (NYSE:ONON) last released its earnings results on Tuesday, March 12th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.18). The business had revenue of $504.69 million during 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, equities analysts expect that ON will post 0.67 EPS for the current year.

Institutional Trading of ON

Hedge funds have recently modified their holdings of the stock. Wasatch Advisors LP acquired a new stake in ON in the 1st quarter worth about $14,823,000. Allspring Global Investments Holdings LLC raised its stake in ON by 30.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,224,894 shares of the company’s stock worth $78,717,000 after purchasing an additional 516,478 shares in the last quarter. Wolff Wiese Magana LLC raised its stake in ON by 5,034.3% in the 1st quarter. Wolff Wiese Magana LLC now owns 3,594 shares of the company’s stock worth $127,000 after purchasing an additional 3,524 shares in the last quarter. WD Rutherford LLC acquired a new stake in ON in the 1st quarter worth about $52,000. Finally, KRS Capital Management LLC raised its stake in ON by 13.7% in the 1st quarter. KRS Capital Management LLC now owns 14,075 shares of the company’s stock worth $498,000 after purchasing an additional 1,700 shares in the last quarter. Institutional investors and hedge funds 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.