ON (NYSE:ONON) Upgraded to Strong-Buy at Hsbc Global Res

Hsbc Global Res upgraded shares of ON (NYSE:ONON) from a hold rating to a strong-buy rating in a research note released on Tuesday morning,Zacks.com reports.

A number of other equities research analysts also recently issued reports on ONON. The Goldman Sachs Group downgraded shares of ON from a “buy” rating to a “neutral” rating and set a $57.00 price target on the stock. in a research note on Wednesday, February 12th. Williams Trading raised their price target on ON from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. TD Cowen boosted their price objective on ON from $65.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. HSBC upgraded shares of ON from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research note on Tuesday. Finally, BTIG Research upgraded ON from a “neutral” rating to a “buy” rating and set a $64.00 price objective on the stock in a research note on Wednesday, November 13th. Two analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, ON presently has a consensus rating of “Buy” and an average target price of $61.90.

ON Stock Up 2.0 %

Shares of ON stock opened at $45.13 on Tuesday. The business’s fifty day simple moving average is $54.68 and its 200-day simple moving average is $52.66. The firm has a market cap of $28.42 billion, a PE ratio of 104.96, a price-to-earnings-growth ratio of 1.02 and a beta of 2.35. ON has a 52 week low of $27.37 and a 52 week high of $64.05.

Institutional Investors Weigh In On ON

Several institutional investors and hedge funds have recently made changes to their positions in ONON. Private Trust Co. NA bought a new position in shares of ON in the 3rd quarter worth about $26,000. MidAtlantic Capital Management Inc. acquired a new position in ON in the third quarter valued at approximately $29,000. Strategic Financial Concepts LLC acquired a new stake in ON in the fourth quarter worth $30,000. Park Square Financial Group LLC bought a new position in shares of ON during the fourth quarter worth about $32,000. Finally, Legacy Bridge LLC acquired a new position in ON during the 4th quarter valued at about $43,000. 36.39% of the stock is owned by institutional investors and hedge funds.

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.