Telsey Advisory Group Cuts ON (NYSE:ONON) Price Target to $60.00

ON (NYSE:ONON) had its price target decreased by Telsey Advisory Group from $65.00 to $60.00 in a research note released on Wednesday morning, Marketbeat.com reports. Telsey Advisory Group currently has an outperform rating on the stock.

A number of other equities analysts have also commented on ONON. Zacks Research lowered shares of ON from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 11th. Needham & Company LLC reaffirmed a “buy” rating and set a $52.00 price objective on shares of ON in a report on Thursday, February 26th. Piper Sandler reiterated an “overweight” rating on shares of ON in a research note on Friday, December 5th. Evercore set a $58.00 target price on shares of ON and gave the stock an “outperform” rating in a report on Tuesday, March 3rd. Finally, Truist Financial cut their target price on shares of ON from $65.00 to $55.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.24.

ON Stock Performance

Shares of ONON opened at $32.44 on Wednesday. The firm has a market cap of $20.70 billion, a price-to-earnings ratio of 45.05, a price-to-earnings-growth ratio of 0.64 and a beta of 2.14. The company’s fifty day moving average is $43.23 and its 200-day moving average is $43.64. The company has a quick ratio of 2.13, a current ratio of 2.71 and a debt-to-equity ratio of 0.27. ON has a 12 month low of $31.41 and a 12 month high of $61.29.

Insider Activity at ON

In other ON news, CEO Martin Hoffmann sold 4,150 shares of the business’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $39.79, for a total value of $165,128.50. Following the transaction, the chief executive officer directly owned 1,357,020 shares in the company, valued at $53,995,825.80. The trade was a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 68.57% of the company’s stock.

Institutional Investors Weigh In On ON

A number of hedge funds have recently added to or reduced their stakes in ONON. Caitlin John LLC bought a new position in ON in the fourth quarter valued at about $25,000. Cullen Frost Bankers Inc. raised 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. acquired a new position in ON during the 4th quarter valued at about $27,000. Caitong International Asset Management Co. Ltd boosted its stake 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 during the last quarter. Finally, TD Private Client Wealth LLC boosted its stake in shares of ON by 109.9% in 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 last quarter. Institutional investors own 36.39% of the company’s stock.

ON News Roundup

Here are the key news stories impacting ON this week:

• Positive Sentiment: Telsey Advisory Group trimmed its price target to $60 but kept an Outperform rating, signaling the firm still sees medium‑term upside despite near‑term concern. Telsey lowers PT
• Positive Sentiment: Management transition includes co‑CEO arrangements and a new CFO, which management frames as a planned succession that could preserve strategy and brand continuity — a stabilizing message for long‑term investors. Yahoo Finance valuation piece
• Neutral Sentiment: Unusual options activity: traders bought a large volume of put options (about 19,421 contracts), indicating elevated short‑term hedging or bearish bets that can increase volatility. (No article link provided)
• Negative Sentiment: Two law firms (Pomerantz LLP and Johnson Fistel) launched investigations into On on behalf of shareholders, raising legal overhang risk and potential litigation costs. Pomerantz alert Johnson Fistel notice
• Negative Sentiment: CEO Martin Hoffmann sold ~4,150 shares (disclosed SEC Form 4). While small relative to his stake, the sale timed near the leadership announcement likely amplified investor unease. InsiderTrades alert
• Negative Sentiment: Market reaction: coverage and headlines (e.g., Schaeffers/Zacks) show the stock has experienced sharp intraday selling and a steep recent decline as investors price in execution risk and uncertainty around growth. Schaeffers story Zacks market note

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.