ON (NYSE:ONON) Earns "Overweight" Rating from Morgan Stanley

Morgan Stanley reaffirmed their overweight rating on shares of ON (NYSE:ONON - Free Report) in a report published on Monday, Benzinga reports. The firm currently has a $32.00 price target on the stock.

A number of other research firms have also recently commented on ONON. TheStreet cut ON from a c rating to a d+ rating in a report on Monday, March 18th. Redburn Atlantic reiterated a neutral rating and issued a $34.00 price target on shares of ON in a research report on Thursday, March 7th. Stifel Nicolaus reaffirmed a buy rating and set a $40.00 price target on shares of ON in a research note on Tuesday, March 5th. Piper Sandler boosted their price objective on shares of ON from $37.00 to $39.00 and gave the stock an overweight rating in a research note on Thursday, March 21st. Finally, William Blair initiated coverage on ON in a research report on Tuesday, April 16th. They set an outperform rating on the stock. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, ON currently has a consensus rating of Moderate Buy and a consensus price target of $37.13.

ON Trading Up 1.1 %

ONON traded up $0.36 during trading on Monday, hitting $31.94. 2,429,347 shares of the company's stock traded hands, compared to its average volume of 5,332,250. The company's 50 day simple moving average is $33.08 and its two-hundred day simple moving average is $29.39. ON has a 12-month low of $23.41 and a 12-month high of $37.08. The stock has a market capitalization of $20.11 billion, a price-to-earnings ratio of 118.30, a PEG ratio of 1.10 and a beta of 2.16.

ON (NYSE:ONON - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $504.69 million during the quarter, compared to analysts' expectations of $515.30 million. On average, equities analysts expect that ON will post 0.65 EPS for the current year.

Institutional Investors Weigh In On ON

A number of institutional investors and hedge funds have recently made changes to their positions in ONON. AE Wealth Management LLC grew its position in ON by 39.2% during the third quarter. AE Wealth Management LLC now owns 12,435 shares of the company's stock worth $346,000 after buying an additional 3,505 shares during the period. IFP Advisors Inc grew its position in shares of ON by 138.3% in the third quarter. IFP Advisors Inc now owns 4,951 shares of the company's stock valued at $138,000 after purchasing an additional 2,873 shares during the last quarter. DAVENPORT & Co LLC grew its position in shares of ON by 29.2% in the third quarter. DAVENPORT & Co LLC now owns 16,060 shares of the company's stock valued at $447,000 after purchasing an additional 3,625 shares during the last quarter. Caprock Group LLC grew its position in shares of ON by 10.0% in the third quarter. Caprock Group LLC now owns 7,738 shares of the company's stock valued at $215,000 after purchasing an additional 701 shares during the last quarter. Finally, U S Global Investors Inc. purchased a new position in shares of ON during the third quarter valued at approximately $223,000. 33.11% of the stock is owned by hedge funds and other institutional investors.

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.