ON (NYSE:ONON) Stock Rating Upgraded by HSBC

ON (NYSE:ONON - Get Free Report) was upgraded by research analysts at HSBC from a "hold" rating to a "buy" rating in a research note issued on Tuesday,Finviz reports. The brokerage currently has a $58.00 price objective on the stock. HSBC's price target would indicate a potential upside of 31.28% from the company's previous close.

Other analysts have also issued reports about the stock. Telsey Advisory Group reissued an "outperform" rating and issued a $67.00 price objective on shares of ON in a research report on Tuesday, March 4th. Stifel Nicolaus upped their price target 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. Barclays lifted their target price on ON from $63.00 to $64.00 and gave the company an "overweight" rating in a research note on Wednesday, March 5th. UBS Group increased their price target on shares of ON from $65.00 to $73.00 and gave the company a "buy" rating in a research report on Wednesday, March 5th. Finally, 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. Three research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, ON currently has a consensus rating of "Moderate Buy" and an average target price of $61.90.

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ON Trading Down 5.3 %

NYSE:ONON opened at $44.18 on Tuesday. The business's 50-day moving average is $54.90 and its 200 day moving average is $52.65. ON has a 12 month low of $27.37 and a 12 month high of $64.05. The company has a market capitalization of $27.82 billion, a P/E ratio of 102.75, a P/E/G ratio of 1.02 and a beta of 2.35.

Institutional Investors Weigh In On ON

Several large investors have recently bought and sold shares of the stock. Apollon Wealth Management LLC boosted its holdings in shares of ON by 74.0% in the fourth quarter. Apollon Wealth Management LLC now owns 16,005 shares of the company's stock valued at $877,000 after acquiring an additional 6,808 shares during the period. RB Capital Management LLC increased its position in ON by 214.8% during the third quarter. RB Capital Management LLC now owns 22,426 shares of the company's stock worth $1,125,000 after purchasing an additional 15,303 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in ON by 34.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,376,850 shares of the company's stock worth $76,213,000 after buying an additional 349,789 shares during the period. Strategic Financial Concepts LLC acquired a new stake in shares of ON in the fourth quarter valued at about $30,000. Finally, Y Intercept Hong Kong Ltd raised its holdings in ON by 584.8% in the third quarter. Y Intercept Hong Kong Ltd now owns 83,651 shares of the company's stock valued at $4,195,000 after acquiring an additional 71,436 shares in the last quarter. 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.

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