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

ON (NYSE:ONON) had its price objective hoisted by Piper Sandler from $52.00 to $56.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price target would indicate a potential upside of 8.32% from the stock’s previous close.

A number of other research firms have also commented on ONON. KeyCorp upped their price objective on shares of ON from $47.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, September 26th. Sanford C. Bernstein started coverage on ON in a report on Tuesday, June 11th. They set an “outperform” rating and a $50.00 price target for the company. JPMorgan Chase & Co. lifted their price objective on ON from $40.00 to $47.00 and gave the stock an “overweight” rating in a research report on Monday, June 17th. Evercore ISI upgraded ON to an “overweight” rating and upped their target price for the company from $43.00 to $47.00 in a research report on Monday, August 12th. Finally, Barclays raised their target price on ON from $40.00 to $47.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Five analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, ON presently has a consensus rating of “Moderate Buy” and an average price target of $48.90.

ON Stock Up 4.1 %

NYSE ONON opened at $51.70 on Thursday. The company has a market cap of $32.55 billion, a price-to-earnings ratio of 117.50, a price-to-earnings-growth 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 business’s fifty day moving average is $45.24 and its 200 day moving average is $39.77.

ON (NYSE:ONON) last released its quarterly earnings data on Tuesday, August 13th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.04). The firm had revenue of $627.66 million during the quarter, compared to analyst estimates of $634.43 million. ON had a net margin of 7.42% and a return on equity of 13.02%. On average, research analysts anticipate that ON will post 0.82 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ONON. Quarry LP bought a new stake in shares of ON during the 2nd quarter valued at about $32,000. WD Rutherford LLC bought a new stake in shares of ON during the 1st quarter worth $52,000. Asset Dedication LLC lifted its holdings in shares of ON by 25.8% during the 2nd quarter. Asset Dedication LLC now owns 1,592 shares of the company’s stock worth $62,000 after acquiring an additional 327 shares during the last quarter. Orion Capital Management LLC increased its stake in ON by 106.7% in the first quarter. Orion Capital Management LLC now owns 2,480 shares of the company’s stock valued at $88,000 after acquiring an additional 1,280 shares during the last quarter. Finally, National Bank of Canada FI increased its stake in ON by 24.0% in the second quarter. National Bank of Canada FI now owns 2,585 shares of the company’s stock valued at $98,000 after acquiring an additional 500 shares during the last quarter. 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.