ON (NYSE:ONON) PT Raised to $47.00

ON (NYSE:ONON) had its target price lifted by investment analysts at KeyCorp from $40.00 to $47.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s price target points to a potential upside of 23.04% from the stock’s current price.

A number of other brokerages have also commented on ONON. William Blair began coverage on shares of ON in a research note on Tuesday, April 16th. They issued an “outperform” rating for the company. Needham & Company LLC increased their price objective 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. Evercore ISI raised their price objective on shares of ON from $40.00 to $43.00 and gave the stock an “outperform” rating in a report on Wednesday, May 15th. Truist Financial reaffirmed a “buy” rating and set a $46.00 target price on shares of ON in a report on Tuesday, June 18th. Finally, JPMorgan Chase & Co. lifted their price target on shares of ON from $40.00 to $47.00 and gave the stock an “overweight” rating in a research note on Monday, June 17th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, ON presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.06.

ON Stock Down 0.8 %

ON stock opened at $38.20 on Wednesday. ON has a twelve month low of $23.41 and a twelve month high of $44.30. The company has a market capitalization of $24.05 billion, a P/E ratio of 86.82, a PEG ratio of 1.13 and a beta of 2.22. The stock’s 50 day moving average is $39.82 and its 200 day moving average is $34.45.

ON (NYSE:ONON) last announced its quarterly earnings results on Tuesday, May 14th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.20. The company had revenue of $581.41 million for the quarter, compared to analysts’ expectations of $555.52 million. ON had a net margin of 6.46% and a return on equity of 11.13%. As a group, equities analysts expect that ON will post 0.78 EPS for the current year.

Institutional Investors Weigh In On ON

A number of institutional investors have recently added to or reduced their stakes in ONON. William Blair Investment Management LLC bought a new position in shares of ON during the first quarter worth $121,712,000. 1832 Asset Management L.P. boosted its holdings in shares of ON by 36.2% during the 4th quarter. 1832 Asset Management L.P. now owns 3,160,000 shares of the company’s stock valued at $85,225,000 after purchasing an additional 840,600 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of 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 valued at $98,636,000 after purchasing an additional 14,674 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of ON by 30.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,224,894 shares of the company’s stock worth $78,717,000 after purchasing an additional 516,478 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of ON in the fourth quarter worth about $57,916,000. 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.