ON (NYSE:ONON) Price Target Raised to $46.00

ON (NYSE:ONON) had its target price increased by analysts at JPMorgan Chase & Co. from $44.00 to $46.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 34.61% from the company’s previous close.

A number of other brokerages also recently issued reports on ONON. Capital One Financial set a $28.00 target price on ON in a research note on Tuesday, September 8th. Wolfe Research began coverage on ON in a report on Wednesday, October 21st. They set an “outperform” rating and a $47.00 price target on the stock. Cantor Fitzgerald started coverage on shares of ON in a research report on Tuesday. They set an “overweight” rating and a $46.00 price target on the stock. KeyCorp upped their price objective on shares of ON from $37.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Weiss Ratings raised shares of ON from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $43.96.

ON Price Performance

Shares of ONON stock traded down $0.53 during trading hours on Wednesday, reaching $34.17. The company had a trading volume of 2,318,945 shares, compared to its average volume of 7,377,073. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.25 and a current ratio of 2.83. The stock has a fifty day moving average of $31.79 and a 200-day moving average of $36.41. The company has a market capitalization of $21.81 billion, a price-to-earnings ratio of 23.24, a PEG ratio of 0.74 and a beta of 2.05. ON has a 12-month low of $26.36 and a 12-month high of $51.08.

ON (NYSE:ONON) last announced its quarterly earnings data on Tuesday, November 10th. The company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.18. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.11 billion. ON had a return on equity of 22.92% and a net margin of 12.09%. The firm’s revenue was up 17.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.43 earnings per share. On average, equities analysts anticipate that ON will post 1.50 earnings per share for the current year.

Insider Transactions at ON

In related news, CEO Caspar Coppetti bought 65,000 shares of the firm’s stock in a transaction on Friday, August 14th. The shares were bought at an average price of $30.67 per share, with a total value of $1,993,550.00. Following the completion of the transaction, the chief executive officer directly owned 2,440,855 shares of the company’s stock, valued at $74,861,022.85. This represents a 2.74% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Olivier Bernhard bought 65,000 shares of the stock in a transaction on Friday, August 14th. The shares were bought at an average cost of $30.67 per share, with a total value of $1,993,550.00. Following the purchase, the insider owned 5,228,184 shares of the company’s stock, valued at $160,348,403.28. This trade 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 made changes to their positions in the stock. Pinnacle Wealth Planning Services Inc. lifted its holdings in shares of ON by 5,181.2% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 845 shares of the company’s stock worth $25,000 after acquiring an additional 829 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of ON by 69.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 760 shares of the company’s stock worth $26,000 after purchasing an additional 312 shares during the period. Guardian Partners Inc. purchased a new position in shares of ON during the 3rd quarter worth approximately $41,000. Signaturefd LLC boosted its position in shares of ON by 29.5% during the 3rd quarter. Signaturefd LLC now owns 1,598 shares of the company’s stock worth $47,000 after purchasing an additional 364 shares during the period. Finally, Covestor Ltd increased its holdings in ON by 39.5% in the 3rd quarter. Covestor Ltd now owns 2,984 shares of the company’s stock valued at $88,000 after purchasing an additional 845 shares during the last quarter. 36.39% of the stock is owned by hedge funds and other institutional investors.

ON News Summary

Here’s some of the latest news about ONON:

• Positive Sentiment: ON reported record Q3 sales of CHF 931.4 million, up 17.2% year over year, and earnings per share above analyst expectations. Direct-to-consumer sales grew 25%, net income rose 36.9%, and apparel revenue was also strong. Article: On Holding Q3 2026 earnings
• Positive Sentiment: Management lifted its full-year comparable gross-margin outlook to around 66% and expects Q4 growth to accelerate. Analyst sentiment remains broadly supportive: KeyCorp raised its target to $42 and maintained an Overweight rating; Barclays cut its target to $42 but kept Overweight. Article: ON outlines FY2026 margins and Q4 growth
• Negative Sentiment: Investors may be concerned that Q3 profitability benefited from CHF 52.6 million in U.S. tariff refunds, a potentially one-time boost. ON also reiterated rather than raised its full-year sales-growth outlook, while wholesale growth trailed DTC growth. Inventory growth and risks around new product launches add uncertainty. Article: Investors look past Q3 beat

ON Company Profile

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.