ON (NYSE:ONON) Given New $43.00 Price Target at Telsey Advisory Group

ON (NYSE:ONON) had its target price decreased by equities researchers at Telsey Advisory Group from $51.00 to $43.00 in a note issued to investors on Wednesday, Marketbeat reports. The brokerage currently has an “outperform” rating on the stock. Telsey Advisory Group’s price objective suggests a potential upside of 38.96% from the company’s previous close.

ONON has been the topic of a number of other reports. Robert W. Baird reduced their target price on shares of ON from $70.00 to $55.00 and set an “outperform” rating on the stock in a research report on Wednesday. Truist Financial set a $40.00 price target on shares of ON in a report on Tuesday. William Blair cut shares of ON from an “outperform” rating to a “market perform” rating in a research report on Tuesday. JPMorgan Chase & Co. started coverage on ON in a research report on Thursday, July 2nd. They issued an “overweight” rating and a $51.00 price objective on the stock. Finally, Williams Trading set a $32.00 target price on ON in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $50.00.

ON Price Performance

Shares of ONON stock opened at $30.94 on Wednesday. ON has a 52 week low of $30.11 and a 52 week high of $52.20. The stock has a market capitalization of $19.75 billion, a PE ratio of 33.27, a PEG ratio of 0.71 and a beta of 2.12. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.39 and a current ratio of 2.98. The stock’s fifty day moving average is $37.17 and its 200-day moving average is $38.81.

ON (NYSE:ONON) last issued its quarterly earnings results on Tuesday, May 12th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.11. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. ON had a net margin of 7.92% and a return on equity of 15.72%. The firm’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.21 EPS. Equities research analysts expect that ON will post 1.52 EPS for the current fiscal year.

Insider Activity

In related news, insider Olivier Bernhard purchased 60,000 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were bought at an average price of $36.63 per share, with a total value of $2,197,800.00. Following the purchase, the insider directly owned 5,163,184 shares in the company, valued at $189,127,429.92. This trade represents a 1.18% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CEO Caspar Felix Coppetti purchased 60,000 shares of ON stock in a transaction dated Thursday, May 14th. The stock was bought at an average price of $36.64 per share, for a total transaction of $2,198,400.00. Following the completion of the transaction, the chief executive officer directly owned 2,375,855 shares in the company, valued at $87,051,327.20. The trade was a 2.59% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 180,000 shares of company stock valued at $6,594,000 in the last 90 days.

Hedge Funds Weigh In On ON

Several institutional investors have recently modified their holdings of ONON. Morgan Stanley increased its stake in ON by 40.9% in the 4th quarter. Morgan Stanley now owns 24,119,871 shares of the company’s stock valued at $1,121,092,000 after buying an additional 6,997,455 shares during the last quarter. Platinum Paramount Investment LTD. acquired a new stake in shares of ON in the fourth quarter valued at about $525,784,000. Sinvest Investments II Ltd. bought a new stake in ON during the fourth quarter worth about $390,432,000. Bamco Inc. NY boosted its position in ON by 13.9% during the fourth quarter. Bamco Inc. NY now owns 5,405,486 shares of the company’s stock valued at $251,247,000 after purchasing an additional 658,933 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in ON by 44.8% in the third quarter. Ameriprise Financial Inc. now owns 3,318,415 shares of the company’s stock valued at $138,865,000 after purchasing an additional 1,026,804 shares in the last quarter. 36.39% of the stock is currently owned by institutional investors and hedge funds.

ON News Summary

Here are the key news stories impacting ON this week:

• Positive Sentiment: Direct-to-consumer sales increased 26% year over year, while Asia-Pacific growth and the company’s selective distribution strategy supported improved profitability. On raised its fiscal 2026 gross-margin outlook to at least 65%. On Holding Slides After Q2 Sales Missed Expectations Despite Strong Margins
• Positive Sentiment: Analysts at BTIG and Needham maintained Buy ratings, while one Seeking Alpha analysis described the post-earnings valuation as potentially attractive for growth-oriented investors. However, both firms lowered their price targets, reflecting greater near-term uncertainty. BTIG Price Target
• Neutral Sentiment: Second-quarter earnings were broadly in line with or slightly above estimates, depending on the data source, but revenue growth of roughly 13.5% year over year fell short of Wall Street expectations. On Holding Earnings Report
• Negative Sentiment: Wholesale sales growth slowed to approximately 5%, significantly below the 26% increase in direct-to-consumer sales. Management is intentionally limiting wholesale sell-in to protect pricing and brand positioning, but investors viewed the strategy as a sign of softer near-term demand. On Shares Fall Sharply After Wholesale Slowdown in Q2
• Negative Sentiment: Fiscal 2026 revenue guidance of approximately $4.4 billion to $4.5 billion was around or below the $4.5 billion consensus estimate. Higher U.S. tariff costs, foreign-exchange pressure and cautious consumer spending added to concerns about slowing sales growth. On Shares Tumble After Revenue Miss
• Negative Sentiment: William Blair downgraded ONON from Outperform to Market Perform, and Needham, BTIG and other analysts reduced price targets following the results. These actions reinforced the market’s concern that growth may moderate before the company’s longer-term expansion opportunities fully offset the slowdown. William Blair Downgrade

ON Company Profile

On Holding AG, commonly known as On, is a Swiss performance footwear and apparel company headquartered in Zurich. Founded in 2010, the company designs, develops and sells running shoes, performance apparel and accessories for road, trail and everyday use. On’s product philosophy centers on engineered cushioning and responsiveness intended to serve both serious athletes and lifestyle consumers.

On is best known for its proprietary midsole technology and distinctive sole architecture, marketed under names such as the Cloud family of shoes and related performance lines.