ON (NYSE:ONON) Given Overweight Rating at Morgan Stanley

Morgan Stanley reiterated their overweight rating on shares of ON (NYSE:ONON) in a research report report published on Monday morning, Benzinga reports. They currently have a $32.00 target price on the stock.

Other equities research analysts have also recently issued research reports about the company. William Blair assumed coverage on ON in a research note on Tuesday, April 16th. They issued an outperform rating on the stock. TheStreet lowered ON from a c rating to a d+ rating in a research report on Monday, March 18th. Truist Financial boosted 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. Piper Sandler boosted their price target on ON from $37.00 to $39.00 and gave the stock an overweight rating in a research report on Thursday, March 21st. Finally, Redburn Atlantic reaffirmed a neutral rating and set a $34.00 price target on shares of ON in a research report on Thursday, March 7th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $37.13.

ON Stock Performance

NYSE ONON opened at $31.92 on Monday. The stock has a market capitalization of $20.10 billion, a price-to-earnings ratio of 118.22, a PEG ratio of 1.13 and a beta of 2.16. The stock’s 50 day moving average price is $33.18 and its two-hundred day moving average price is $29.52. ON has a 52 week low of $23.41 and a 52 week high of $37.08.

ON (NYSE:ONON) last released its earnings results on Tuesday, March 12th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.18). The firm 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 research analysts forecast that ON will post 0.65 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ONON. Allspring Global Investments Holdings LLC grew its holdings in ON by 4.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,708,416 shares of the company’s stock valued at $46,076,000 after buying an additional 76,746 shares in the last quarter. Liontrust Investment Partners LLP grew its holdings in ON by 204.7% in the 3rd quarter. Liontrust Investment Partners LLP now owns 517,942 shares of the company’s stock valued at $14,410,000 after buying an additional 347,942 shares in the last quarter. Jennison Associates LLC grew its holdings in ON by 7.6% in the 3rd quarter. Jennison Associates LLC now owns 7,887,000 shares of the company’s stock valued at $219,416,000 after buying an additional 554,513 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in ON by 127.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 131,585 shares of the company’s stock valued at $3,549,000 after buying an additional 73,839 shares in the last quarter. Finally, Baltimore Washington Financial Advisors Inc. grew its holdings in ON by 10.3% in the 3rd quarter. Baltimore Washington Financial Advisors Inc. now owns 292,338 shares of the company’s stock valued at $8,133,000 after buying an additional 27,206 shares in the last quarter. 33.11% of the stock is owned by institutional investors and hedge funds.

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.