ON (NYSE:ONON) Upgraded at HSBC

HSBC upgraded shares of ON (NYSE:ONON) from a hold rating to a buy rating in a research report sent to investors on Tuesday, Marketbeat reports. They currently have $58.00 price objective on the stock.

Several other analysts have also issued reports on the company. Truist Financial boosted their target price on ON from $58.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Raymond James upgraded ON from an “outperform” rating to a “strong-buy” rating and upped their price objective for the stock from $58.00 to $63.00 in a report on Thursday, November 21st. Telsey Advisory Group restated an “outperform” rating and set a $67.00 target price on shares of ON in a report on Tuesday, March 4th. Robert W. Baird increased their price objective on ON from $55.00 to $63.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, Citigroup began coverage on ON in a report on Wednesday, December 18th. They issued a “neutral” rating and a $65.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, ON presently has a consensus rating of “Buy” and an average price target of $61.90.

ON Stock Down 0.7 %

Shares of NYSE:ONON opened at $46.42 on Tuesday. The business’s 50 day moving average is $54.32 and its 200 day moving average is $52.62. ON has a 12-month low of $29.84 and a 12-month high of $64.05. The stock has a market cap of $29.23 billion, a price-to-earnings ratio of 107.94, a PEG ratio of 1.02 and a beta of 2.35.

Institutional Trading of ON

Several institutional investors have recently added to or reduced their stakes in the business. Capital Advisors Inc. OK boosted its stake in ON by 3.2% during the 4th quarter. Capital Advisors Inc. OK now owns 6,386 shares of the company’s stock valued at $350,000 after purchasing an additional 200 shares during the last quarter. Keystone Investors PTE Ltd. boosted its stake in shares of ON by 0.8% in the 4th quarter. Keystone Investors PTE Ltd. now owns 29,918 shares of the company’s stock worth $1,639,000 after buying an additional 228 shares during the last quarter. Concurrent Investment Advisors LLC lifted its position in ON by 2.8% during the fourth quarter. Concurrent Investment Advisors LLC now owns 9,413 shares of the company’s stock valued at $516,000 after purchasing an additional 259 shares in the last quarter. CreativeOne Wealth LLC lifted its position in ON by 2.4% during the fourth quarter. CreativeOne Wealth LLC now owns 13,574 shares of the company’s stock valued at $743,000 after purchasing an additional 323 shares in the last quarter. Finally, Atria Investments Inc lifted its position in ON by 6.6% during the fourth quarter. Atria Investments Inc now owns 5,515 shares of the company’s stock valued at $302,000 after purchasing an additional 341 shares in the last quarter. 36.39% of the stock is currently owned by hedge funds and other institutional investors.

ON Company Profile

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.