William Blair Initiates Coverage on ON (NYSE:ONON)

Equities research analysts at William Blair initiated coverage on shares of ON (NYSE:ONON) in a report issued on Tuesday, MarketBeat.com reports. The brokerage set an “outperform” rating on the stock.

ONON has been the topic of a number of other research reports. TheStreet downgraded shares of ON from a “c” rating to a “d+” rating in a report on Monday, March 18th. Piper Sandler raised their price objective on shares of ON from $37.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. Telsey Advisory Group reissued an “outperform” rating and issued a $37.00 price objective on shares of ON in a report on Wednesday, March 6th. Redburn Atlantic reissued a “neutral” rating and issued a $34.00 price objective on shares of ON in a report on Thursday, March 7th. Finally, Evercore ISI decreased their target price on shares of ON from $40.00 to $37.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 13th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.13.

ON Stock Up 2.4 %

Shares of NYSE ONON opened at $33.35 on Tuesday. The firm’s 50-day moving average price is $32.95 and its 200-day moving average price is $29.28. The company has a market cap of $21.00 billion, a PE ratio of 123.52, a PEG ratio of 1.26 and a beta of 2.16. ON has a 52-week low of $23.41 and a 52-week high of $37.08.

ON (NYSE:ONON) last posted its quarterly earnings data 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). The business had revenue of $504.69 million during the quarter, compared to analysts’ expectations of $515.30 million. ON had a return on equity of 6.85% and a net margin of 4.04%. As a group, equities research analysts anticipate that ON will post 0.67 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ONON. Spire Wealth Management boosted its stake in ON by 91.0% during the third quarter. Spire Wealth Management now owns 972 shares of the company’s stock worth $27,000 after buying an additional 463 shares during the period. Orion Capital Management LLC boosted its stake in ON by 1,100.0% during the fourth quarter. Orion Capital Management LLC now owns 1,200 shares of the company’s stock worth $32,000 after buying an additional 1,100 shares during the period. VisionPoint Advisory Group LLC purchased a new position in ON during the fourth quarter worth $32,000. Global Wealth Management Investment Advisory Inc. purchased a new position in ON during the fourth quarter worth $33,000. Finally, Belpointe Asset Management LLC boosted its stake in ON by 75.3% during the first quarter. Belpointe Asset Management LLC now owns 1,057 shares of the company’s stock worth $33,000 after buying an additional 454 shares during the period. 33.11% of the stock is owned by hedge funds and other institutional investors.

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.