Telsey Advisory Group Cuts ON (NYSE:ONON) Price Target to $43.00

ON (NYSE:ONON) had its price target cut by Telsey Advisory Group from $51.00 to $43.00 in a research report report published on Wednesday, MarketBeat.com reports. They currently have an outperform rating on the stock.

A number of other brokerages have also recently commented on ONON. Williams Trading set a $32.00 target price on ON in a report on Tuesday. BTIG Research reduced their price objective on ON from $70.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday. Raymond James Financial lowered ON from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the company from $52.00 to $38.00 in a research note on Wednesday. Barclays dropped their price objective on ON from $46.00 to $42.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of ON in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, ON has a consensus rating of “Moderate Buy” and an average price target of $48.57.

ON Trading Up 2.0%

NYSE:ONON opened at $32.23 on Wednesday. The company has a market capitalization of $20.57 billion, a PE ratio of 21.93, a price-to-earnings-growth ratio of 0.63 and a beta of 2.12. The company has a quick ratio of 2.39, a current ratio of 2.83 and a debt-to-equity ratio of 0.25. ON has a 52-week low of $30.11 and a 52-week high of $51.08. The stock has a fifty day simple moving average of $36.82 and a 200-day simple moving average of $38.55.

ON (NYSE:ONON) last posted its earnings results on Tuesday, August 11th. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.07). ON had a net margin of 12.09% and a return on equity of 22.92%. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter last year, the business posted ($0.09) earnings per share. The business’s revenue was up 13.5% compared to the same quarter last year. On average, equities research analysts expect that ON will post 1.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ONON. Caitlin John LLC purchased a new position in ON in the fourth quarter valued at about $25,000. Cullen Frost Bankers Inc. increased its holdings in ON by 639.7% during the 4th quarter. Cullen Frost Bankers Inc. now owns 540 shares of the company’s stock worth $25,000 after purchasing an additional 467 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in ON during the 4th quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd raised its position in shares of ON by 555.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 701 shares of the company’s stock valued at $33,000 after purchasing an additional 594 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of ON by 69.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 760 shares of the company’s stock valued at $26,000 after buying an additional 312 shares during the last quarter. Institutional investors and hedge funds own 36.39% of the company’s stock.

ON News Roundup

Here are the key news stories impacting ON this week:

• Positive Sentiment: The stock’s rebound suggests some investors may view the August 11 selloff as an overreaction. On Holding’s underlying business still delivered year-over-year revenue growth, although the company’s revised guidance remains a concern. On Holding Just Had Its Worst Trading Day Ever
• Neutral Sentiment: Analyst commentary remains divided on On Holding and other consumer-cyclical companies, indicating uncertainty about the company’s growth trajectory, brand demand and expansion across sales channels. Analysts Offer Insights on Consumer Cyclical Companies Analysts Have Conflicting Sentiments
• Negative Sentiment: Telsey Advisory Group lowered its price target to $43, adding to investor concerns about valuation and slower-than-expected growth. Telsey Advisory Group Lowers ON Price Target
• Negative Sentiment: Robert W. Baird and UBS Group also reduced their expectations for ONON, reinforcing a broad analyst reassessment following the earnings report. Robert W. Baird Lowers Expectations UBS Lowers Expectations
• Negative Sentiment: BTIG issued a pessimistic forecast, while William Blair downgraded the stock to Market Perform and Needham issued a similarly cautious outlook. These actions could limit upside in the near term. BTIG Research Forecast William Blair Downgrade Needham Forecast
• Negative Sentiment: The key catalyst behind the analyst cuts was On Holding’s second-quarter earnings miss and trimmed guidance. Shares remain below their 50-day and 200-day moving averages, highlighting continued technical weakness. On Holding Global Brand Demand and Channel Expansion

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.