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

Analysts at William Blair assumed coverage on shares of ON (NYSE:ONON) in a research note issued to investors on Tuesday, Briefing.com reports. The brokerage set an “outperform” rating on the stock.

Other equities analysts have also recently issued research reports about the company. Telsey Advisory Group restated an “outperform” rating and issued a $37.00 price objective on shares of ON in a report on Wednesday, March 6th. Redburn Atlantic reiterated a “neutral” rating and set a $34.00 price target on shares of ON in a report on Thursday, March 7th. Morgan Stanley reiterated an “overweight” rating and set a $32.00 price target on shares of ON in a report on Thursday, April 11th. Stifel Nicolaus reiterated a “buy” rating and set a $40.00 price target on shares of ON in a report on Tuesday, March 5th. Finally, Barclays initiated coverage on ON in a report on Monday, April 1st. They set an “overweight” rating and a $38.00 price target for the company. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, ON currently has an average rating of “Moderate Buy” and an average target price of $37.13.

ON Trading Down 2.0 %

Shares of ON stock opened at $32.21 on Tuesday. The stock’s fifty day simple moving average is $32.74 and its 200 day simple moving average is $29.21. ON has a 12 month low of $23.41 and a 12 month high of $37.08. The company has a market capitalization of $20.28 billion, a PE ratio of 119.30, a PEG ratio of 1.28 and a beta of 2.16.

ON (NYSE:ONON) last released its quarterly earnings results on Tuesday, March 12th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.18). ON had a net margin of 4.04% and a return on equity of 6.85%. The firm had revenue of $504.69 million during the quarter, compared to analyst estimates of $515.30 million. Analysts predict that ON will post 0.67 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Durable Capital Partners LP grew its stake in shares of ON by 114.5% during the first quarter. Durable Capital Partners LP now owns 11,028,390 shares of the company’s stock worth $278,357,000 after buying an additional 5,887,034 shares during the last quarter. Macquarie Group Ltd. grew its stake in shares of ON by 25.2% during the second quarter. Macquarie Group Ltd. now owns 8,289,119 shares of the company’s stock worth $146,635,000 after buying an additional 1,670,574 shares during the last quarter. Jennison Associates LLC grew its stake in shares of ON by 7.6% during the third quarter. Jennison Associates LLC now owns 7,887,000 shares of the company’s stock worth $219,416,000 after buying an additional 554,513 shares during the last quarter. American Century Companies Inc. grew its stake in shares of 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 buying an additional 3,428,794 shares during the last quarter. Finally, Capital Research Global Investors grew its stake in shares of ON by 4.8% during the first quarter. Capital Research Global Investors now owns 4,233,780 shares of the company’s stock worth $106,861,000 after buying an additional 195,301 shares during the last quarter. 33.11% of the stock is currently 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.