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

ON (NYSE:ONON) was upgraded by Hsbc Global Res from a “hold” rating to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.

ONON has been the subject of several other reports. KeyCorp reiterated an “overweight” rating and issued a $68.00 price target on shares of ON in a research note on Wednesday, March 5th. Stifel Nicolaus raised their target price on shares of ON from $60.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. UBS Group boosted their price target on ON from $65.00 to $73.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. TD Cowen upped their price target on ON from $65.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Finally, BTIG Research upgraded ON from a “neutral” rating to a “buy” rating and set a $64.00 price objective for the company in a research note on Wednesday, November 13th. Two research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $61.90.

ON Stock Up 3.5 %

NYSE ONON opened at $46.73 on Tuesday. The firm has a market capitalization of $29.42 billion, a PE ratio of 108.68, a P/E/G ratio of 1.02 and a beta of 2.35. The stock’s 50 day moving average is $54.48 and its 200 day moving average is $52.66. ON has a twelve month low of $29.84 and a twelve month high of $64.05.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Private Trust Co. NA bought a new position in shares of ON during the 3rd quarter valued at approximately $26,000. Park Square Financial Group LLC purchased a new position in shares of ON in the fourth quarter valued at about $32,000. MidAtlantic Capital Management Inc. bought a new position in shares of ON in the third quarter worth about $29,000. Legacy Bridge LLC purchased a new stake in shares of ON during the fourth quarter worth about $43,000. Finally, Bernard Wealth Management Corp. bought a new stake in ON during the 4th quarter valued at approximately $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.