ON (NYSE:ONON) Price Target Cut to $55.00 by Analysts at Piper Sandler

ON (NYSE:ONON) had its target price trimmed by Piper Sandler from $62.00 to $55.00 in a research report report published on Friday,Benzinga reports. The firm currently has an overweight rating on the stock.

ONON has been the topic of several other research reports. Citigroup assumed coverage on shares of ON in a research report on Wednesday, December 18th. They issued a “neutral” rating and a $65.00 price target on the stock. Jefferies Financial Group initiated coverage on shares of ON in a report on Tuesday, April 1st. They issued a “hold” rating and a $44.00 price target for the company. The Goldman Sachs Group downgraded ON from a “buy” rating to a “neutral” rating and set a $57.00 target price on the stock. in a research report on Wednesday, February 12th. UBS Group increased their price target on ON from $65.00 to $73.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Finally, TD Cowen raised their target price on shares of ON from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Three research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, ON currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.00.

ON Stock Up 1.1 %

Shares of ONON stock opened at $43.51 on Friday. The stock has a market cap of $27.40 billion, a P/E ratio of 101.19, a PEG ratio of 1.02 and a beta of 2.32. The company’s fifty day simple moving average is $47.73 and its two-hundred day simple moving average is $52.01. ON has a 52 week low of $29.84 and a 52 week high of $64.05.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ONON. Strategic Financial Concepts LLC acquired a new stake in ON in the fourth quarter valued at approximately $30,000. Park Square Financial Group LLC purchased a new stake in shares of ON during the 4th quarter valued at $32,000. MassMutual Private Wealth & Trust FSB acquired a new stake in shares of ON in the 1st quarter worth $32,000. Legacy Bridge LLC acquired a new stake in shares of ON in the 4th quarter worth $43,000. Finally, Bernard Wealth Management Corp. purchased a new position in ON during the 4th quarter worth $44,000. Hedge funds and other institutional investors own 36.39% of the company’s stock.

About ON

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, and all-day activities. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own high-end stores.