ON (NYSE:ONON) Price Target Increased to $56.00 by Analysts at Piper Sandler

ON (NYSE:ONON) had its price objective boosted by Piper Sandler from $52.00 to $56.00 in a research report released on Thursday, Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

ONON has been the topic of a number of other research reports. Telsey Advisory Group reaffirmed an outperform rating and issued a $47.00 price objective on shares of ON in a research report on Tuesday, August 13th. Raymond James started coverage on shares of ON in a research note on Wednesday, July 31st. They issued an outperform rating and a $46.00 price objective on the stock. The Goldman Sachs Group boosted their target price on shares of ON from $41.00 to $47.00 and gave the company a buy rating in a research report on Wednesday, July 3rd. Stifel Nicolaus upped their price target on shares of ON from $45.00 to $59.00 and gave the company a buy rating in a report on Wednesday, September 18th. Finally, Bank of America raised ON from an underperform rating to a neutral rating and boosted their price objective for the company from $21.00 to $55.00 in a report on Monday, September 23rd. Four investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, ON currently has a consensus rating of Moderate Buy and a consensus price target of $48.90.

ON Trading Up 4.1 %

ON stock opened at $51.71 on Thursday. The firm has a market capitalization of $32.56 billion, a PE ratio of 117.53, a price-to-earnings-growth ratio of 1.22 and a beta of 2.24. The firm has a 50-day moving average price of $45.24 and a 200-day moving average price of $39.84. ON has a 12-month low of $23.41 and a 12-month high of $52.16.

ON (NYSE:ONON) last issued its earnings results on Tuesday, August 13th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). ON had a return on equity of 13.02% and a net margin of 7.42%. The company had revenue of $627.66 million for the quarter, compared to analysts’ expectations of $634.43 million. As a group, sell-side analysts predict that ON will post 0.81 earnings per share for the current fiscal year.

Institutional Trading of ON

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP purchased a new position in ON in the 2nd quarter valued at $32,000. WD Rutherford LLC acquired a new stake in ON in the 1st quarter valued at about $52,000. Asset Dedication LLC lifted its stake in ON by 25.8% in the 2nd quarter. Asset Dedication LLC now owns 1,592 shares of the company’s stock worth $62,000 after purchasing an additional 327 shares in the last quarter. Orion Capital Management LLC boosted its holdings in shares of ON by 106.7% during the 1st quarter. Orion Capital Management LLC now owns 2,480 shares of the company’s stock worth $88,000 after purchasing an additional 1,280 shares during the last quarter. Finally, National Bank of Canada FI boosted its stake in ON by 24.0% during the second quarter. National Bank of Canada FI now owns 2,585 shares of the company’s stock worth $98,000 after buying an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 33.11% of the company’s stock.

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.