ON’s (ONON) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of ON (NYSE:ONON) in a report released on Friday,Benzinga reports. The firm currently has a $37.00 target price on the stock.

Other equities analysts also recently issued research reports about the stock. Guggenheim set a $42.00 price target on shares of ON in a report on Friday, September 11th. Telsey Advisory Group dropped their price objective on shares of ON from $51.00 to $43.00 and set an “outperform” rating on the stock in a report on Wednesday, August 12th. BTIG Research reiterated a “buy” rating and issued a $60.00 price objective on shares of ON in a research report on Wednesday, September 16th. Robert W. Baird reduced their target price on shares of ON from $70.00 to $55.00 and set an “outperform” rating for the company in a research note on Wednesday, August 12th. Finally, JPMorgan Chase & Co. initiated coverage on shares of ON in a research report on Thursday, July 2nd. They issued an “overweight” rating and a $51.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, ON has a consensus rating of “Moderate Buy” and a consensus target price of $43.92.

ON Stock Performance

Shares of NYSE ONON opened at $27.25 on Friday. The company has a quick ratio of 2.25, a current ratio of 2.83 and a debt-to-equity ratio of 0.25. The firm’s 50-day moving average price is $32.45 and its two-hundred day moving average price is $35.45. ON has a 52-week low of $26.36 and a 52-week high of $51.08. The stock has a market capitalization of $17.39 billion, a P/E ratio of 18.54, a P/E/G ratio of 0.55 and a beta of 2.08.

ON (NYSE:ONON) last posted its earnings results on Tuesday, August 11th. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.07). The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.09 billion. ON had a net margin of 12.09% and a return on equity of 22.92%. The firm’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period last year, the company posted ($0.09) earnings per share. As a group, sell-side analysts forecast that ON will post 1.49 earnings per share for the current year.

Insider Buying and Selling at ON

In other ON news, CEO Caspar Coppetti purchased 65,000 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was bought at an average price of $30.67 per share, with a total value of $1,993,550.00. Following the completion of the purchase, the chief executive officer owned 2,440,855 shares in the company, valued at $74,861,022.85. This trade represents a 2.74% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Olivier Bernhard purchased 65,000 shares of the stock in a transaction dated Friday, August 14th. The shares were acquired at an average cost of $30.67 per share, for a total transaction of $1,993,550.00. Following the completion of the acquisition, the insider directly owned 5,228,184 shares of the company’s stock, valued at approximately $160,348,403.28. This trade represents a 1.26% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure.

Hedge Funds Weigh In On ON

Several large investors have recently bought and sold shares of ONON. Platinum Paramount Investment LTD. bought a new position in shares of ON in the fourth quarter valued at approximately $525,784,000. Bamco Inc. NY raised its holdings in ON by 13.9% during the fourth quarter. Bamco Inc. NY now owns 5,405,486 shares of the company’s stock worth $251,247,000 after purchasing an additional 658,933 shares in the last quarter. Norges Bank bought a new stake in ON during the fourth quarter worth approximately $128,826,000. Clearbridge Investments LLC lifted its position in ON by 110.3% in the fourth quarter. Clearbridge Investments LLC now owns 2,179,978 shares of the company’s stock worth $101,325,000 after purchasing an additional 1,143,414 shares during the period. Finally, Franklin Resources Inc. lifted its position in ON by 40.5% in the fourth quarter. Franklin Resources Inc. now owns 2,126,297 shares of the company’s stock worth $98,830,000 after purchasing an additional 613,063 shares during the period. Institutional investors and hedge funds own 36.39% of the company’s stock.

Key Headlines Impacting ON

Here are the key news stories impacting ON this week:

• Positive Sentiment: Kylian Mbappé partnership boosts global visibility. On signed French football superstar Kylian Mbappé, marking a major expansion into football and giving the Swiss footwear company a prominent international ambassador. The deal is viewed as a competitive win against Nike and could support brand awareness, product sales and long-term growth. On Holding Stock Jumps as Swiss Sneaker Company Enters Football With Mbappé, Henry
• Positive Sentiment: Analysts continue to endorse the shares. Needham reaffirmed a “Buy” rating with a $37 price target, implying substantial upside from recent levels. BTIG Research and Berenberg Bank also issued or maintained “Buy” ratings, supporting the bullish case despite the stock’s recent weakness. Needham Reaffirms Buy Rating on On Holding ON Earns Buy Rating from BTIG Research
• Neutral Sentiment: Investor attention is elevated. Trading volume has been substantially above average, suggesting heightened interest around the Mbappé announcement and the stock’s technical weakness. However, elevated activity alone does not establish a lasting change in sentiment.
• Negative Sentiment: Operating concerns remain the main overhang. On Holding’s recent three-month slide reflects weak Americas wholesale trends and cautious retailer sell-in, even as direct-to-consumer sales and new product launches provide support. The company’s latest quarterly results also missed consensus estimates for both earnings and revenue. On Holding Stock Falls 30% in Three Months
• Negative Sentiment: Bearish options positioning signals caution. Traders purchased 42,982 put options, roughly 191% above the average daily volume, while the shares recently traded near two-year lows. This activity indicates that some investors are positioning for additional downside or protecting existing holdings. 3 Stocks Put Traders Are Targeting Today

About ON

On Holding AG, known as On, is a Swiss sportswear company that develops and sells performance footwear, apparel and accessories. The company is particularly recognized for its running shoes, which incorporate proprietary technologies such as CloudTec cushioning and Speedboard components designed to support comfort, responsiveness and energy return.

On serves athletes and consumers across categories including running, outdoor activities, training and everyday performance. Its products are sold through the company’s direct-to-consumer channels, including its website and branded retail stores, as well as through a network of wholesale partners in markets around the world.

On was founded in 2010 in Switzerland by Olivier Bernhard, David Allemann and Caspar Coppetti.