ON (NYSE:ONON) Price Target Cut to $51.00 by Analysts at Guggenheim

ON (NYSE:ONON) had its price objective trimmed by Guggenheim from $59.00 to $51.00 in a research report report published on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

ONON has been the subject of a number of other reports. Needham & Company LLC reissued a “buy” rating and set a $52.00 price target on shares of ON in a research note on Thursday, February 26th. UBS Group reaffirmed a “buy” rating on shares of ON in a report on Thursday, February 19th. KeyCorp cut their target price on shares of ON from $68.00 to $58.00 and set an “overweight” rating for the company in a report on Thursday, January 22nd. Piper Sandler reaffirmed an “overweight” rating on shares of ON in a research note on Friday, December 5th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of ON in a research note on Thursday, January 22nd. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, ON has a consensus rating of “Moderate Buy” and an average price target of $59.41.

ON Trading Down 1.4%

Shares of ON stock opened at $43.28 on Wednesday. ON has a 1-year low of $34.38 and a 1-year high of $61.29. The company’s fifty day simple moving average is $46.24 and its 200-day simple moving average is $44.42. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.55 and a quick ratio of 2.05. The stock has a market capitalization of $27.18 billion, a PE ratio of 60.11, a P/E/G ratio of 1.31 and a beta of 2.14.

ON (NYSE:ONON) last announced its earnings results on Tuesday, March 3rd. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.06. ON had a return on equity of 13.68% and a net margin of 6.59%.The company had revenue of $937.29 million for the quarter, compared to analysts’ expectations of $727.55 million. During the same period last year, the firm earned $0.33 EPS. ON’s revenue for the quarter was up 22.6% compared to the same quarter last year. As a group, equities analysts anticipate that ON will post 0.66 earnings per share for the current year.

Institutional Investors Weigh In On ON

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Caitlin John LLC bought a new position in shares of ON during the 4th quarter worth $25,000. Cullen Frost Bankers Inc. lifted its stake in ON by 639.7% in the fourth quarter. Cullen Frost Bankers Inc. now owns 540 shares of the company’s stock worth $25,000 after acquiring an additional 467 shares during the period. MidAtlantic Capital Management Inc. bought a new position in ON during the 4th quarter worth about $27,000. Caitong International Asset Management Co. Ltd increased its position in ON by 555.1% during 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 during the period. Finally, TD Private Client Wealth LLC increased its position in ON by 109.9% during the 4th quarter. TD Private Client Wealth LLC now owns 804 shares of the company’s stock valued at $37,000 after purchasing an additional 421 shares during the period. 36.39% of the stock is owned by institutional investors.

ON News Summary

Here are the key news stories impacting ON this week:

• Positive Sentiment: Q4 results beat across the board — EPS topped estimates and revenue came in well above consensus; full-year sales topped CHF 3.0 billion and margins hit record levels, supporting longer-term growth thesis. Earnings / Transcript
• Positive Sentiment: Several sell-side analysts remain constructive: Telsey reaffirmed an outperform rating with a $65 PT, and the consensus of analyst targets still implies meaningful upside — evidence that long-term estimates and demand assumptions remain favorable. Telsey / Analyst Notes
• Neutral Sentiment: Earnings-call transcripts and detailed commentary are available for investors wanting management’s guideposts on category expansion and margin drivers — useful for assessing whether FY26 guidance is conservative or structural. Earnings Call Transcript
• Neutral Sentiment: Aggregate analyst price-target coverage still implies ~20–30% upside on average, which keeps buy-side narratives alive despite short-term volatility. Zacks Analyst Consensus
• Negative Sentiment: Management’s FY26 revenue guidance was below many analysts’ expectations, triggering an immediate downshift in sentiment and a sharp intraday reaction as investors re-priced forward growth. CNBC: Guidance Reaction
• Negative Sentiment: Some brokerages trimmed price targets (Barclays lowered its PT from $60 to $57; Guggenheim cut from $59 to $51) — lowering near-term upside expectations even though ratings largely stayed constructive. Benzinga: PT Changes
• Negative Sentiment: Media coverage highlighted that guidance “spooked” investors and led to a material pullback in sentiment; that narrative is amplifying short-term selling pressure. Seeking Alpha: Investor Reaction

About ON

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.