Robert W. Baird Lowers ON (NYSE:ONON) Price Target to $55.00

ON (NYSE:ONON) had its price target cut by Robert W. Baird from $70.00 to $55.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s target price indicates a potential upside of 77.74% from the company’s previous close.

A number of other brokerages also recently issued reports on ONON. JPMorgan Chase & Co. initiated coverage on ON in a research report on Thursday, July 2nd. They set an “overweight” rating and a $51.00 price target on the stock. Raymond James Financial lowered shares of ON from a “strong-buy” rating to an “outperform” rating and cut their price target for the stock from $52.00 to $38.00 in a report on Wednesday. Weiss Ratings restated a “hold (c-)” rating on shares of ON in a research report on Friday. Barclays reaffirmed an “overweight” rating and set a $42.00 price objective on shares of ON in a report on Wednesday. Finally, Evercore reiterated an “outperform” rating and issued a $46.00 target price on shares of ON in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $50.00.

ON Stock Performance

Shares of NYSE ONON opened at $30.94 on Wednesday. The company’s fifty day moving average price is $37.17 and its 200 day moving average price is $38.81. ON has a 1 year low of $30.11 and a 1 year high of $52.20. The company has a market capitalization of $19.75 billion, a PE ratio of 33.27, a price-to-earnings-growth 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.

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

Insider Buying and Selling

In other news, CEO Caspar Felix Coppetti acquired 60,000 shares of ON stock in a transaction that occurred on Thursday, May 14th. The stock was purchased at an average cost of $36.64 per share, with a total value of $2,198,400.00. Following the purchase, the chief executive officer owned 2,375,855 shares in the company, valued at $87,051,327.20. This trade represents a 2.59% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Michael Allemann acquired 60,000 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was purchased at an average price of $36.63 per share, for a total transaction of $2,197,800.00. Following the acquisition, the chief executive officer directly owned 2,841,108 shares in the company, valued at $104,069,786.04. This represents a 2.16% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders bought 180,000 shares of company stock worth $6,594,000.

Institutional Trading of ON

Several large investors have recently bought and sold shares of ONON. Morgan Stanley boosted its holdings in shares of ON by 40.9% during the 4th quarter. Morgan Stanley now owns 24,119,871 shares of the company’s stock worth $1,121,092,000 after purchasing 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 approximately $525,784,000. Sinvest Investments II Ltd. purchased a new position in ON during the fourth quarter worth approximately $390,432,000. Bamco Inc. NY lifted 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 worth $251,247,000 after buying an additional 658,933 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in ON by 44.8% during the third quarter. Ameriprise Financial Inc. now owns 3,318,415 shares of the company’s stock worth $138,865,000 after buying an additional 1,026,804 shares during the last quarter. Hedge funds and other institutional investors own 36.39% of the company’s stock.

Key ON News

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.