ON (NYSE:ONON) Receives “Overweight” Rating from JPMorgan Chase & Co.

ON (NYSE:ONON)‘s stock had its “overweight” rating reiterated by JPMorgan Chase & Co. in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $51.00 target price on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 43.21% from the company’s previous close.

ONON has been the subject of several other reports. Evercore set a $42.00 price target on ON in a report on Tuesday, May 12th. Barclays dropped their price objective on ON from $57.00 to $46.00 and set an “overweight” rating on the stock in a report on Wednesday, May 13th. Wall Street Zen upgraded ON from a “hold” rating to a “buy” rating in a research report on Saturday, June 27th. Raymond James Financial raised ON from an “outperform” rating to a “strong-buy” rating and set a $52.00 target price for the company in a report on Thursday, April 23rd. Finally, Weiss Ratings upgraded shares of ON from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, May 12th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $53.79.

ON Trading Up 0.5%

NYSE ONON opened at $35.61 on Thursday. The company has a quick ratio of 2.39, a current ratio of 2.98 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $22.73 billion, a P/E ratio of 38.29, a P/E/G ratio of 0.66 and a beta of 2.12. ON has a 52-week low of $31.41 and a 52-week high of $55.95. The firm has a 50-day moving average price of $37.21 and a 200 day moving average price of $40.92.

ON (NYSE:ONON) last announced its quarterly earnings data on Tuesday, May 12th. The company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.11. ON had a return on equity of 15.72% and a net margin of 7.92%.The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the company earned $0.21 EPS. The firm’s revenue for the quarter was up 14.5% compared to the same quarter last year. Equities research analysts expect that ON will post 1.5 EPS for the current year.

Insider Activity at ON

In other news, CEO Martin Hoffmann sold 4,150 shares of the business’s stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $35.84, for a total transaction of $148,736.00. Following the sale, the chief executive officer owned 1,385,099 shares of the company’s stock, valued at $49,641,948.16. The trade was a 0.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Olivier Bernhard purchased 60,000 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was purchased at an average price of $36.63 per share, for a total transaction of $2,197,800.00. Following the acquisition, the insider owned 5,163,184 shares in the company, valued at approximately $189,127,429.92. This trade represents a 1.18% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have purchased 180,000 shares of company stock valued at $6,594,000 and have sold 16,600 shares valued at $580,710. Company insiders own 68.57% of the company’s stock.

Institutional Trading of ON

A number of institutional investors have recently bought and sold shares of ONON. Caitlin John LLC acquired a new position in shares of ON during the 4th quarter worth $25,000. Cullen Frost Bankers Inc. boosted its position in shares of ON by 639.7% in the 4th quarter. Cullen Frost Bankers Inc. now owns 540 shares of the company’s stock worth $25,000 after buying an additional 467 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in ON in the 4th quarter valued at about $27,000. Caitong International Asset Management Co. Ltd grew its stake in ON by 555.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 701 shares of the company’s stock valued at $33,000 after acquiring an additional 594 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in ON by 69.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 760 shares of the company’s stock valued at $26,000 after acquiring an additional 312 shares in the last quarter. 36.39% of the stock is currently owned by hedge funds and other institutional investors.

About ON

On Holding AG, commonly known as On, is a Swiss performance footwear and apparel company headquartered in Zurich. Founded in 2010, the company designs, develops and sells running shoes, performance apparel and accessories for road, trail and everyday use. On’s product philosophy centers on engineered cushioning and responsiveness intended to serve both serious athletes and lifestyle consumers.

On is best known for its proprietary midsole technology and distinctive sole architecture, marketed under names such as the Cloud family of shoes and related performance lines.