ON (NYSE:ONON) Given New $56.00 Price Target at Piper Sandler

ON (NYSE:ONON) had its target price upped by Piper Sandler from $52.00 to $56.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other research firms have also commented on ONON. JPMorgan Chase & Co. increased their target price on ON from $40.00 to $47.00 and gave the company an overweight rating in a report on Monday, June 17th. Truist Financial raised their price objective on shares of ON from $46.00 to $51.00 and gave the stock a buy rating in a report on Wednesday, August 14th. TD Cowen upped their target price on ON from $50.00 to $58.00 and gave the company a buy rating in a research report on Monday, September 30th. The Goldman Sachs Group raised their price objective on shares of ON from $41.00 to $47.00 and gave the stock a buy rating in a research report on Wednesday, July 3rd. Finally, Raymond James began coverage on ON in a report on Wednesday, July 31st. They issued an outperform rating and a $46.00 target price on the stock. Four analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $48.90.

ON Price Performance

NYSE ONON opened at $51.71 on Thursday. The company has a market cap of $32.56 billion, a P/E ratio of 117.53, a P/E/G ratio of 1.22 and a beta of 2.24. ON has a 1-year low of $23.41 and a 1-year high of $52.16. The stock has a 50-day moving average of $45.24 and a two-hundred day moving average of $39.84.

ON (NYSE:ONON) last announced 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 company 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, analysts anticipate that ON will post 0.81 EPS for the current fiscal year.

Institutional Trading of ON

A number of institutional investors have recently modified their holdings of the company. Park Avenue Securities LLC increased its holdings in ON by 19.5% in the 3rd quarter. Park Avenue Securities LLC now owns 13,441 shares of the company’s stock valued at $674,000 after purchasing an additional 2,194 shares in the last quarter. Norman Fields Gottscho Capital Management LLC increased its holdings in ON by 0.6% during the 3rd quarter. Norman Fields Gottscho Capital Management LLC now owns 186,705 shares of the company’s stock worth $9,363,000 after purchasing an additional 1,100 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in shares of ON in the 2nd quarter worth about $1,108,000. Coronation Fund Managers Ltd. increased its holdings in ON by 248.6% in the second quarter. Coronation Fund Managers Ltd. now owns 154,903 shares of the company’s stock valued at $6,010,000 after buying an additional 110,467 shares during the last quarter. Finally, Granite Bay Wealth Management LLC bought a new stake in ON in the second quarter valued at about $230,000. Hedge funds and other 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.