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

by · The Markets Daily

ON (NYSE:ONON – Free Report) had its target price lifted by Piper Sandler from $52.00 to $56.00 in a report issued on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other equities research analysts have also commented on the company. HSBC initiated coverage on ON in a research report on Thursday, September 5th. They set a hold rating and a $52.00 price target on the stock. TD Cowen increased their target price on ON from $50.00 to $58.00 and gave the stock a buy rating in a report on Monday, September 30th. Truist Financial lifted their price target on ON from $46.00 to $51.00 and gave the company a buy rating in a report on Wednesday, August 14th. Raymond James assumed coverage on shares of ON in a report on Wednesday, July 31st. They set an outperform rating and a $46.00 price objective on the stock. Finally, Morgan Stanley boosted their target price on shares of ON from $44.00 to $46.00 and gave the stock an overweight rating in a research note on Wednesday, August 14th. Five research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, ON currently has a consensus rating of Moderate Buy and a consensus target price of $48.90.

View Our Latest Stock Report on ONON

ON Stock Performance

Shares of NYSE:ONON opened at $51.71 on Thursday. The company’s fifty day moving average is $45.24 and its 200-day moving average is $39.81. ON has a 52 week low of $23.41 and a 52 week high of $52.16. The company has a market capitalization of $32.56 billion, a PE ratio of 117.52, a P/E/G ratio of 1.26 and a beta of 2.24.

ON (NYSE:ONON – Get Free Report) last announced its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $634.43 million. ON had a net margin of 7.42% and a return on equity of 13.02%. On average, analysts forecast that ON will post 0.82 EPS for the current year.

Hedge Funds Weigh In On ON

Several hedge funds have recently added to or reduced their stakes in ONON. Quarry LP acquired a new position in shares of ON during the 2nd quarter worth about $32,000. WD Rutherford LLC acquired a new position in ON during the first quarter valued at approximately $52,000. Asset Dedication LLC increased its stake in ON by 25.8% in the second quarter. Asset Dedication LLC now owns 1,592 shares of the company’s stock valued at $62,000 after purchasing an additional 327 shares in the last quarter. Orion Capital Management LLC raised its holdings in ON by 106.7% in the first 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 period. Finally, National Bank of Canada FI boosted its position in shares of 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 purchasing an additional 500 shares in the last quarter. Institutional investors and hedge funds own 33.11% of the company’s stock.

About ON

(Get Free Report)

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.

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