ON (NYSE:ONON) PT Raised to $47.00 at JPMorgan Chase & Co.

ON (NYSE:ONONGet Free Report) had its target price increased by equities researchers at JPMorgan Chase & Co. from $40.00 to $47.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 11.27% from the company’s current price.

Other analysts have also recently issued research reports about the stock. Morgan Stanley increased their price target on shares of ON from $35.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 15th. Truist Financial upgraded shares of ON from a “hold” rating to a “buy” rating and increased their price target for the stock from $34.00 to $46.00 in a research note on Tuesday, May 28th. Needham & Company LLC increased their price target on shares of ON from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. Barclays increased their price target on shares of ON from $38.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 15th. Finally, Piper Sandler increased their price target 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. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $42.00.

Check Out Our Latest Stock Analysis on ON

ON Stock Performance

ON stock opened at $42.24 on Monday. ON has a 1 year low of $23.41 and a 1 year high of $44.30. The company’s 50 day simple moving average is $36.68 and its 200-day simple moving average is $32.61. The company has a market capitalization of $26.60 billion, a price-to-earnings ratio of 96.00, a price-to-earnings-growth ratio of 1.24 and a beta of 2.27.

ON (NYSE:ONONGet Free Report) last posted its quarterly earnings results on Tuesday, May 14th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.12 by $0.20. ON had a net margin of 6.46% and a return on equity of 11.13%. The company had revenue of $581.41 million during the quarter, compared to analysts’ expectations of $555.52 million. Equities analysts expect that ON will post 0.77 earnings per share for the current year.

Hedge Funds Weigh In On ON

Several hedge funds have recently added to or reduced their stakes in ONON. Orion Capital Management LLC increased its holdings in ON by 1,100.0% during the 4th quarter. Orion Capital Management LLC now owns 1,200 shares of the company’s stock valued at $32,000 after acquiring an additional 1,100 shares in the last quarter. VisionPoint Advisory Group LLC purchased a new position in ON during the 4th quarter valued at about $32,000. Global Wealth Management Investment Advisory Inc. purchased a new position in ON during the 4th quarter valued at about $33,000. Asset Dedication LLC acquired a new stake in shares of ON during the 3rd quarter worth about $35,000. Finally, Spire Wealth Management boosted its stake in shares of ON by 66.2% during the 4th quarter. Spire Wealth Management now owns 1,615 shares of the company’s stock worth $45,000 after purchasing an additional 643 shares during the last quarter. 33.11% of the stock is currently owned by hedge funds and other institutional investors.

About ON

(Get Free Report)

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.

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Analyst Recommendations for ON (NYSE:ONON)

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