Jefferies Financial Group Initiates Coverage on ON (NYSE:ONON)

Jefferies Financial Group initiated coverage on shares of ON (NYSE:ONON - Free Report) in a research note released on Tuesday morning, MarketBeat Ratings reports. The firm issued a hold rating and a $44.00 price objective on the stock.

Several other equities research analysts also recently issued reports on ONON. HSBC upgraded ON from a "hold" rating to a "buy" rating and set a $58.00 price objective on the stock in a report on Tuesday, March 11th. UBS Group raised their price objective on shares of ON from $65.00 to $73.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. Williams Trading upped their target price on shares of ON from $60.00 to $62.00 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. TD Cowen raised their price target on shares of ON from $65.00 to $66.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. Finally, Telsey Advisory Group reaffirmed an "outperform" rating and set a $67.00 price objective on shares of ON in a research report on Tuesday, March 4th. Three equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $60.45.

ON Price Performance

Shares of NYSE:ONON traded up $1.91 during mid-day trading on Tuesday, reaching $39.56. 20,421,911 shares of the company were exchanged, compared to its average volume of 4,531,028. The firm has a market cap of $24.91 billion, a price-to-earnings ratio of 92.00, a P/E/G ratio of 1.02 and a beta of 2.32. ON has a 1 year low of $29.84 and a 1 year high of $64.05. The firm's 50-day simple moving average is $50.36 and its 200 day simple moving average is $52.40.

Institutional Investors Weigh In On ON

Several large investors have recently modified their holdings of the company. 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 worth $350,000 after purchasing an additional 200 shares during the period. Keystone Investors PTE Ltd. raised its holdings in shares of ON by 0.8% in the fourth quarter. Keystone Investors PTE Ltd. now owns 29,918 shares of the company's stock valued at $1,639,000 after buying an additional 228 shares during the last quarter. Concurrent Investment Advisors LLC boosted its stake in shares of ON by 2.8% during the fourth quarter. Concurrent Investment Advisors LLC now owns 9,413 shares of the company's stock worth $516,000 after buying an additional 259 shares during the period. Sage Capital Advisors llc grew its holdings in shares of ON by 0.3% during the first quarter. Sage Capital Advisors llc now owns 100,329 shares of the company's stock worth $4,406,000 after buying an additional 269 shares during the last quarter. Finally, CreativeOne Wealth LLC increased its position in ON by 2.4% in the 4th quarter. CreativeOne Wealth LLC now owns 13,574 shares of the company's stock valued at $743,000 after acquiring an additional 323 shares during the period. 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.