ON (NYSE:ONON) Price Target Increased to $47.00 by Analysts at JPMorgan Chase & Co.

ON (NYSE:ONON) had its price target raised by JPMorgan Chase & Co. from $40.00 to $47.00 in a report issued on Monday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

ONON has been the topic of a number of other research reports. Sanford C. Bernstein initiated coverage on shares of ON in a research report on Tuesday, June 11th. They issued an outperform rating and a $50.00 price objective on the stock. Truist Financial upgraded shares of ON from a hold rating to a buy rating and increased their price objective for the stock from $34.00 to $46.00 in a research note on Tuesday, May 28th. TheStreet cut ON from a c rating to a d+ rating in a research report on Monday, March 18th. Stifel Nicolaus reaffirmed a buy rating and set a $41.00 price target on shares of ON in a research report on Thursday, May 16th. Finally, Piper Sandler increased their price objective on ON from $37.00 to $39.00 and gave the company an overweight rating in a report on Thursday, March 21st. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $42.00.

ON Stock Performance

NYSE ONON opened at $41.62 on Monday. The stock has a market cap of $26.21 billion, a price-to-earnings ratio of 94.59, a PEG ratio of 1.24 and a beta of 2.27. The business has a 50 day simple moving average of $36.49 and a 200 day simple moving average of $32.53. ON has a 52-week low of $23.41 and a 52-week high of $44.30.

ON (NYSE:ONON) last announced its earnings results on Tuesday, May 14th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.20. ON had a net margin of 6.46% and a return on equity of 11.13%. The firm had revenue of $581.41 million during the quarter, compared to analyst estimates of $555.52 million. On average, analysts predict that ON will post 0.77 EPS for the current year.

Hedge Funds Weigh In On ON

A number of hedge funds have recently bought and sold shares of the business. Ogborne Capital Management LLC lifted its position in shares of ON by 31.0% during the 1st quarter. Ogborne Capital Management LLC now owns 658,365 shares of the company’s stock valued at $23,293,000 after acquiring an additional 155,949 shares during the period. B. Riley Wealth Advisors Inc. bought a new stake in ON during the first quarter worth about $486,000. Price T Rowe Associates Inc. MD grew its stake in ON by 0.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,787,871 shares of the company’s stock worth $98,636,000 after buying an additional 14,674 shares in the last quarter. BOKF NA acquired a new position in shares of ON in the 1st quarter valued at approximately $4,721,000. Finally, Boulder Hill Capital Management LP lifted its holdings in shares of ON by 52.8% during the 1st quarter. Boulder Hill Capital Management LP now owns 112,800 shares of the company’s stock worth $3,991,000 after acquiring an additional 39,000 shares during the period. 33.11% of the stock is owned by 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.