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

ON (NYSE:ONON) had its target price upped by Piper Sandler from $52.00 to $56.00 in a research report report published on Thursday morning, Benzinga reports. They currently have an overweight rating on the stock.

ONON has been the topic of a number of other reports. The Goldman Sachs Group upped their price target on shares of ON from $41.00 to $47.00 and gave the company a buy rating in a research note on Wednesday, July 3rd. Telsey Advisory Group reaffirmed an outperform rating and set a $47.00 target price on shares of ON in a report on Tuesday, August 13th. HSBC initiated coverage on shares of ON in a report on Thursday, September 5th. They set a hold rating and a $52.00 target price on the stock. Morgan Stanley upped their target price on shares of ON from $44.00 to $46.00 and gave the stock an overweight rating in a report on Wednesday, August 14th. Finally, Raymond James began coverage on shares of ON in a report on Wednesday, July 31st. They set an outperform rating and a $46.00 target price on the stock. Five analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $48.90.

ON Stock Up 0.9 %

ONON opened at $49.67 on Thursday. The stock has a market cap of $31.27 billion, a price-to-earnings ratio of 112.89, a PEG ratio of 1.26 and a beta of 2.24. ON has a twelve month low of $23.41 and a twelve month high of $52.16. The company’s 50-day moving average price is $45.01 and its two-hundred day moving average price is $39.64.

ON (NYSE:ONON) last released its earnings results on Tuesday, August 13th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). The company had revenue of $627.66 million during the quarter, compared to analysts’ expectations of $634.43 million. ON had a net margin of 7.42% and a return on equity of 13.02%. As a group, sell-side analysts anticipate that ON will post 0.82 earnings per share for the current year.

Hedge Funds Weigh In On ON

Institutional investors and hedge funds have recently made changes to their positions in the business. Quarry LP purchased a new stake in ON during the 2nd quarter valued at $32,000. WD Rutherford LLC purchased a new stake in ON during the 1st quarter valued at $52,000. Asset Dedication LLC boosted its position in ON by 25.8% during the 2nd quarter. Asset Dedication LLC now owns 1,592 shares of the company’s stock valued at $62,000 after buying an additional 327 shares during the period. Orion Capital Management LLC boosted its position in ON by 106.7% during the 1st quarter. Orion Capital Management LLC now owns 2,480 shares of the company’s stock valued at $88,000 after buying an additional 1,280 shares during the period. Finally, National Bank of Canada FI boosted its position in ON by 24.0% during the 2nd quarter. National Bank of Canada FI now owns 2,585 shares of the company’s stock valued at $98,000 after buying an additional 500 shares during the period. 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.