KeyCorp Has Lowered Expectations for ON (NYSE:ONON) Stock Price

ON (NYSE:ONON) had its price target dropped by investment analysts at KeyCorp from $58.00 to $43.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s target price indicates a potential upside of 27.12% from the stock’s previous close.

Several other analysts have also recently commented on the company. Evercore set a $42.00 price target on ON in a report on Tuesday. Guggenheim decreased their target price on shares of ON from $59.00 to $51.00 and set a “buy” rating on the stock in a research report on Wednesday, March 4th. Zacks Research downgraded shares of ON from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 11th. UBS Group reaffirmed a “buy” rating on shares of ON in a research report on Thursday, February 19th. Finally, BTIG Research reiterated a “buy” rating and issued a $70.00 price target on shares of ON in a report on Tuesday, March 3rd. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $55.80.

ON Price Performance

NYSE:ONON opened at $33.83 on Wednesday. ON has a 12-month low of $31.41 and a 12-month high of $61.29. The firm has a market cap of $21.58 billion, a price-to-earnings ratio of 46.98, a price-to-earnings-growth ratio of 0.69 and a beta of 2.09. The company’s 50-day moving average is $36.73 and its two-hundred day moving average is $41.92. The company has a current ratio of 2.71, a quick ratio of 2.13 and a debt-to-equity ratio of 0.27.

Insider Transactions at ON

In other ON news, CEO Martin Hoffmann sold 4,150 shares of the business’s stock in a transaction that occurred on Monday, April 27th. The shares were 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 directly 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 20,750 shares of company stock worth $745,838 in the last ninety days.

Hedge Funds Weigh In On ON

A number of hedge funds have recently made changes to their positions in ONON. Cullen Frost Bankers Inc. lifted its holdings in shares of ON by 639.7% during the 4th quarter. Cullen Frost Bankers Inc. now owns 540 shares of the company’s stock valued at $25,000 after acquiring an additional 467 shares in the last quarter. Caitlin John LLC purchased a new position in ON in the fourth quarter valued at about $25,000. MidAtlantic Capital Management Inc. purchased a new position in ON in the fourth quarter valued at about $27,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of ON by 555.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 701 shares of the company’s stock worth $33,000 after purchasing an additional 594 shares in the last quarter. Finally, Ascentis Independent Advisors purchased a new stake in shares of ON in the first quarter worth about $34,000. Hedge funds and other institutional investors own 36.39% of the company’s stock.

Trending Headlines about ON

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

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.