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Hsbc Global Res upgraded shares of ON (NYSE:ONON – Free Report) from a hold rating to a strong-buy rating in a research note issued to investors on Tuesday morning,Zacks.com reports.
Several other brokerages also recently issued reports on ONON. Truist Financial raised their price objective on shares of ON from $58.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Needham & Company LLC reissued a “buy” rating and set a $64.00 price objective on shares of ON in a research report on Tuesday, March 4th. Stifel Nicolaus raised their price objective on shares of ON from $60.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. The Goldman Sachs Group downgraded shares of ON from a “buy” rating to a “neutral” rating and set a $57.00 price objective on the stock. in a research report on Wednesday, February 12th. Finally, HSBC raised shares of ON from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $61.90.
Read Our Latest Stock Report on ON
ON Price Performance
NYSE ONON opened at $46.42 on Tuesday. The firm’s fifty day moving average price is $54.32 and its 200 day moving average price is $52.62. The company has a market capitalization of $29.23 billion, a price-to-earnings ratio of 107.94, a price-to-earnings-growth ratio of 1.02 and a beta of 2.35. ON has a 12 month low of $29.84 and a 12 month high of $64.05.
Hedge Funds Weigh In On ON
Several institutional investors have recently modified their holdings of the company. Private Trust Co. NA bought a new position in ON in the 3rd quarter valued at about $26,000. Park Square Financial Group LLC purchased a new stake in shares of ON in the fourth quarter worth approximately $32,000. MidAtlantic Capital Management Inc. acquired a new position in ON in the third quarter worth approximately $29,000. Legacy Bridge LLC bought a new position in shares of ON in the fourth quarter valued at approximately $43,000. Finally, Bernard Wealth Management Corp. bought a new position in shares of ON in the fourth quarter valued at approximately $44,000. Institutional investors own 36.39% of the company’s stock.
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.
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