ON’s (ONON) “Buy” Rating Reaffirmed at Guggenheim

ON (NYSE:ONON)‘s stock had its “buy” rating restated by equities researchers at Guggenheim in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $51.00 price target on the stock. Guggenheim’s target price suggests a potential upside of 47.65% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. Truist Financial set a $48.00 price objective on ON in a report on Tuesday. Stifel Nicolaus set a $58.00 price objective on shares of ON in a research note on Tuesday, March 3rd. Evercore set a $42.00 target price on ON in a research report on Tuesday. Needham & Company LLC reduced their price target on shares of ON from $52.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday. Finally, UBS Group reissued a “buy” rating on shares of ON in a research note on Thursday, February 19th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $55.80.

ON Price Performance

ONON traded up $0.71 on Wednesday, hitting $34.54. 1,980,901 shares of the stock were exchanged, compared to its average volume of 6,127,082. The firm has a market capitalization of $22.04 billion, a price-to-earnings ratio of 47.82, a PEG ratio of 0.69 and a beta of 2.09. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.71 and a quick ratio of 2.13. ON has a 12 month low of $31.41 and a 12 month high of $61.29. The business has a 50-day moving average of $36.73 and a two-hundred day moving average of $41.92.

Insider Buying and Selling at ON

In related news, CEO Martin Hoffmann sold 4,150 shares of the business’s stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $35.84, for a total transaction of $148,736.00. Following the completion of the sale, the chief executive officer owned 1,385,099 shares in the company, valued at $49,641,948.16. The trade was a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 20,750 shares of company stock worth $745,838.

Institutional Trading of ON

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Platinum Paramount Investment LTD. purchased a new position in shares of ON in the 4th quarter valued at $525,784,000. Sinvest Investments II Ltd. purchased a new stake in ON in the fourth quarter valued at approximately $390,432,000. Morgan Stanley boosted its holdings in shares of ON by 40.9% in the fourth quarter. Morgan Stanley now owns 24,119,871 shares of the company’s stock valued at $1,121,092,000 after acquiring an additional 6,997,455 shares during the period. FengHe Fund Management Pte. Ltd. purchased a new position in shares of ON during the fourth quarter worth approximately $142,425,000. Finally, Norges Bank purchased a new position in shares of ON during the fourth quarter worth approximately $128,826,000. 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: On Holding delivered Q1 results that beat expectations on both earnings and revenue, with record sales, margin improvement, and a raised 2026 EBITDA outlook signaling stronger profitability ahead. Read More
• Positive Sentiment: Analysts remain constructive overall, with brokerage coverage still averaging a “Moderate Buy,” suggesting the long-term thesis remains intact despite recent valuation resets. Read More
• Neutral Sentiment: Needham and Telsey both trimmed their price targets to $45 and $51, respectively, but each kept bullish ratings, indicating analysts still see upside even after the stock’s recent move lower. Read More
• Negative Sentiment: Some investors may be cautious because the company’s direct-to-consumer sales came in short of expectations, and multiple analysts lowered price targets ahead of and after earnings. Read More

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.