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

William Blair assumed coverage on shares of ON (NYSE:ONON) in a research report sent to investors on Tuesday morning, Marketbeat Ratings reports. The firm issued an outperform rating on the stock.

ONON has been the topic of a number of other reports. Barclays started coverage on ON in a research note on Monday, April 1st. They set an overweight rating and a $38.00 price objective on the stock. Morgan Stanley reiterated an overweight rating and set a $32.00 price objective on shares of ON in a research note on Thursday, April 11th. TheStreet lowered ON from a c rating to a d+ rating in a research note on Monday, March 18th. Redburn Atlantic reiterated a neutral rating and set a $34.00 price objective on shares of ON in a research note on Thursday, March 7th. Finally, Telsey Advisory Group reiterated an outperform rating and set a $37.00 price objective on shares of ON in a research note on Wednesday, March 6th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, ON currently has an average rating of Moderate Buy and an average price target of $37.13.

ON Price Performance

Shares of ONON opened at $31.60 on Tuesday. The firm has a market cap of $19.89 billion, a PE ratio of 117.02, a PEG ratio of 1.13 and a beta of 2.16. The stock’s fifty day moving average price is $33.08 and its two-hundred day moving average price is $29.34. ON has a 1 year low of $23.41 and a 1 year high of $37.08.

ON (NYSE:ONON) last issued its 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 the consensus estimate of $515.30 million. Sell-side analysts anticipate that ON will post 0.67 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ON

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ONON. Durable Capital Partners LP boosted its holdings in shares of ON by 114.5% in the 1st quarter. Durable Capital Partners LP now owns 11,028,390 shares of the company’s stock worth $278,357,000 after purchasing an additional 5,887,034 shares in the last quarter. Macquarie Group Ltd. boosted its holdings in shares of ON by 25.2% in the 2nd quarter. Macquarie Group Ltd. now owns 8,289,119 shares of the company’s stock worth $146,635,000 after purchasing an additional 1,670,574 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of ON by 7.6% in the 3rd quarter. Jennison Associates LLC now owns 7,887,000 shares of the company’s stock worth $219,416,000 after purchasing an additional 554,513 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of ON by 109.3% in the 3rd 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 in the last quarter. Finally, Capital Research Global Investors boosted its holdings in shares of ON by 4.8% in the 1st quarter. Capital Research Global Investors now owns 4,233,780 shares of the company’s stock worth $106,861,000 after purchasing an additional 195,301 shares in the last quarter. 33.11% of the stock is currently 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.