ON (NYSE:ONON) Stock Price Target Lowered at Barclays

ON (NYSE:ONON) had its target price lowered by research analysts at Barclays from $44.00 to $42.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price target points to a potential upside of 22.10% from the stock’s previous close.

Several other research firms have also recently commented on ONON. KeyCorp raised their target price on shares of ON from $37.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday. Morgan Stanley initiated coverage on shares of ON in a research report on Thursday, September 10th. They set an “overweight” rating and a $39.00 price target on the stock. Jefferies Financial Group reaffirmed an “underperform” rating on shares of ON in a research note on Tuesday, October 20th. Stifel Nicolaus decreased their price objective on shares of ON from $60.00 to $41.00 and set a “buy” rating for the company in a report on Wednesday, August 12th. Finally, William Blair lowered shares of ON from an “outperform” rating to a “market perform” rating in a research note on Tuesday, August 11th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $43.93.

ON Stock Performance

Shares of NYSE ONON traded down $0.30 during midday trading on Wednesday, reaching $34.40. 1,394,584 shares of the company traded hands, compared to its average volume of 7,374,282. ON has a 52 week low of $26.36 and a 52 week high of $51.08. The stock has a 50-day moving average price of $31.79 and a 200 day moving average price of $36.41. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.83 and a quick ratio of 2.25. The company has a market cap of $21.95 billion, a price-to-earnings ratio of 23.34, a PEG ratio of 0.74 and a beta of 2.05.

ON (NYSE:ONON) last posted its quarterly earnings data 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). The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.09 billion. ON had a return on equity of 22.92% and a net margin of 12.09%. The business’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.09) EPS. Sell-side analysts anticipate that ON will post 1.50 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On ON

A number of institutional investors and hedge funds have recently bought and sold shares of ONON. Pictet Asset Management Holding SA boosted its position in shares of ON by 116.8% during the 3rd quarter. Pictet Asset Management Holding SA now owns 1,741,829 shares of the company’s stock valued at $51,571,000 after purchasing an additional 938,285 shares in the last quarter. Voya Investment Management LLC raised its holdings in shares of ON by 220.6% in the 3rd quarter. Voya Investment Management LLC now owns 1,002,302 shares of the company’s stock worth $29,678,000 after purchasing an additional 689,634 shares in the last quarter. Eurizon Capital SGR S.p.A. raised its holdings in shares of ON by 159.9% in the 3rd quarter. Eurizon Capital SGR S.p.A. now owns 931,031 shares of the company’s stock worth $27,568,000 after purchasing an additional 572,854 shares in the last quarter. OMERS ADMINISTRATION Corp acquired a new stake in ON during the first quarter valued at approximately $5,694,000. Finally, B.A. Schrock Wealth Management Inc. acquired a new stake in ON during the third quarter valued at approximately $3,991,000. 36.39% of the stock is owned by institutional investors and hedge funds.

Recent ON Headlines

Investors following ONON have been watching these headlines:

• Positive Sentiment: KeyCorp raised its price target to $42 from $37 and maintained an Overweight rating. Cantor Fitzgerald also initiated coverage with an Overweight rating and a $46 target. KeyCorp recommendations
• Positive Sentiment: Q3 revenue grew 17.2% year over year to CHF 931.4 million, while earnings per share exceeded consensus estimates. Direct-to-consumer sales rose 25%, and Asia-Pacific sales increased 31.1%. Q3 results
• Positive Sentiment: Management expects Q4 growth to accelerate and raised its comparable full-year gross-margin outlook to about 66%, while projecting an adjusted EBITDA margin of 19.5%–20%. 2026 outlook

About ON

On Holding AG, which trades on the New York Stock Exchange under the symbol ONON, is a Swiss sportswear company that develops and sells performance footwear, apparel and accessories. Its products serve runners and other athletes, as well as consumers seeking athletic-inspired everyday wear. The company is known for its running shoes, which feature its CloudTec cushioning technology. On also offers apparel and equipment for activities including running, training and outdoor sports, selling through wholesale partners and its own retail and online channels.