ON (NYSE:ONON) Price Target Raised to $56.00 at Piper Sandler

ON (NYSE:ONON) had its target price lifted by analysts at Piper Sandler from $52.00 to $56.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price target would suggest a potential upside of 8.32% from the company’s current price.

Other research analysts have also issued research reports about the company. KeyCorp upped their price target on ON from $47.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, September 26th. Stifel Nicolaus raised their price target on ON from $45.00 to $59.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. HSBC initiated coverage on shares of ON in a report on Thursday, September 5th. They issued a “hold” rating and a $52.00 price objective for the company. Telsey Advisory Group reaffirmed an “outperform” rating and set a $47.00 target price on shares of ON in a research note on Tuesday, August 13th. Finally, Truist Financial increased their price target on shares of ON from $46.00 to $51.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Five investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $48.90.

ON Stock Performance

Shares of ONON stock opened at $51.70 on Thursday. ON has a fifty-two week low of $23.41 and a fifty-two week high of $52.16. The company has a market capitalization of $32.55 billion, a P/E ratio of 117.50, a PEG ratio of 1.26 and a beta of 2.24. The stock has a 50 day moving average price of $45.24 and a two-hundred day moving average price of $39.77.

ON (NYSE:ONON) last announced its quarterly earnings results on Tuesday, August 13th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.04). The firm had revenue of $627.66 million for 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, equities analysts predict that ON will post 0.82 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Quarry LP bought a new stake in ON during the second quarter valued at about $32,000. WD Rutherford LLC purchased a new stake in shares of ON during the first quarter worth about $52,000. Asset Dedication LLC raised its stake 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 purchasing an additional 327 shares during the period. Orion Capital Management LLC lifted its holdings in ON by 106.7% in 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 in the last quarter. Finally, National Bank of Canada FI boosted its stake in ON by 24.0% in the 2nd quarter. National Bank of Canada FI now owns 2,585 shares of the company’s stock worth $98,000 after purchasing an additional 500 shares during the period. Institutional investors own 33.11% of the company’s stock.

About ON

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.