ON’s (ONON) “Overweight” Rating Reiterated at Morgan Stanley

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

Several other brokerages also recently weighed in on ONON. Redburn Atlantic restated a neutral rating and issued a $34.00 target price on shares of ON in a research note on Thursday, March 7th. Stifel Nicolaus restated a buy rating and issued a $40.00 target price on shares of ON in a research note on Tuesday, March 5th. TheStreet downgraded shares of ON from a c rating to a d+ rating in a research note on Monday, March 18th. 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 note on Wednesday, March 13th. Finally, Piper Sandler upped their target price on shares of ON from $37.00 to $39.00 and gave the company an overweight rating in a research note on Thursday, March 21st. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, ON has a consensus rating of Moderate Buy and an average target price of $37.13.

ON Stock Down 0.6 %

ONON opened at $32.35 on Monday. ON has a 52-week low of $23.41 and a 52-week high of $37.08. The company has a 50 day moving average of $33.17 and a two-hundred day moving average of $29.50. The company has a market cap of $20.37 billion, a P/E ratio of 121.52, a P/E/G ratio of 1.12 and a beta of 2.16.

ON (NYSE:ONON) last released its quarterly earnings data 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 return on equity of 6.85% and a net margin of 4.04%. The business had revenue of $504.69 million for the quarter, compared to analysts’ expectations of $515.30 million. Research analysts anticipate 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 modified their holdings of ONON. American Century Companies Inc. raised its holdings 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 purchasing an additional 3,428,794 shares during the period. Norges Bank acquired a new stake in shares of ON during the fourth quarter worth $57,916,000. Bamco Inc. NY raised its holdings in shares of ON by 243.0% during the third 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 during the period. Jericho Capital Asset Management L.P. acquired a new stake in shares of ON during the third quarter worth $59,539,000. Finally, Rokos Capital Management LLP raised its holdings in shares of ON by 642.3% during the third quarter. Rokos Capital Management LLP now owns 2,075,457 shares of the company’s stock worth $58,268,000 after purchasing an additional 1,795,849 shares during the period. 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.