ON (NYSE:ONON) Price Target Lowered to $60.00 at BTIG Research

ON (NYSE:ONON) had its price objective lowered by investment analysts at BTIG Research from $70.00 to $60.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. BTIG Research’s price objective would indicate a potential upside of 94.87% from the stock’s previous close.

Several other research analysts also recently issued reports on the stock. Needham & Company LLC dropped their target price on shares of ON from $45.00 to $37.00 and set a “buy” rating on the stock in a research note on Tuesday. Guggenheim reaffirmed a “buy” rating and issued a $51.00 price objective on shares of ON in a research report on Wednesday, May 13th. Wall Street Zen lowered ON from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Barclays lowered their price target on ON from $57.00 to $46.00 and set an “overweight” rating on the stock in a report on Wednesday, May 13th. Finally, Truist Financial reduced their price objective on ON from $55.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $52.89.

ON Stock Down 20.6%

Shares of ONON traded down $7.99 during trading hours on Tuesday, hitting $30.79. The company had a trading volume of 29,587,806 shares, compared to its average volume of 5,902,707. The stock has a market capitalization of $19.65 billion, a price-to-earnings ratio of 33.13, a P/E/G ratio of 0.69 and a beta of 2.12. The firm has a fifty day moving average price of $37.31 and a 200-day moving average price of $38.91. ON has a 52-week low of $30.11 and a 52-week high of $52.20. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.39 and a current ratio of 2.98.

ON (NYSE:ONON) last announced its quarterly earnings data on Tuesday, May 12th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.35 by $0.11. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. ON had a net margin of 7.92% and a return on equity of 15.72%. ON’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.21 EPS. On average, equities research analysts forecast that ON will post 1.52 EPS for the current fiscal year.

Insider Buying and Selling

In other ON news, insider Olivier Bernhard acquired 60,000 shares of the stock in a transaction dated Thursday, May 14th. The shares were acquired at an average cost of $36.63 per share, for a total transaction of $2,197,800.00. Following the completion of the transaction, the insider directly owned 5,163,184 shares of the company’s stock, valued at approximately $189,127,429.92. The trade was a 1.18% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Caspar Felix Coppetti bought 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were acquired at an average cost of $36.64 per share, for a total transaction of $2,198,400.00. Following the purchase, the chief executive officer directly owned 2,375,855 shares in the company, valued at $87,051,327.20. This trade represents a 2.59% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders bought 180,000 shares of company stock valued at $6,594,000.

Hedge Funds Weigh In On ON

Institutional investors have recently bought and sold shares of the stock. Cullen Frost Bankers Inc. lifted its stake in ON by 639.7% in 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 in the last quarter. Caitlin John LLC purchased a new stake in shares of ON in the fourth quarter worth about $25,000. EverSource Wealth Advisors LLC boosted its stake in ON by 69.6% during the first quarter. EverSource Wealth Advisors LLC now owns 760 shares of the company’s stock valued at $26,000 after buying an additional 312 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new stake in ON in the 4th quarter worth approximately $27,000. Finally, Caitong International Asset Management Co. Ltd raised its holdings in shares of ON by 555.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 701 shares of the company’s stock worth $33,000 after acquiring an additional 594 shares in the last quarter. 36.39% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting ON

Here are the key news stories impacting ON this week:

• Positive Sentiment: Profitability remained strong. Second-quarter adjusted results included earnings of roughly $0.43–$0.44 per share, slightly above or in line with consensus, while gross margin improved to 65.4% and adjusted EBITDA margin reached 19.8%. Management also raised its full-year gross-margin expectation to at least 65.0%. On Holding Slides After Q2 Sales Missed Expectations Despite Strong Margins
• Positive Sentiment: Direct-to-consumer momentum continued. Second-quarter net sales rose 13.5% year over year to CHF 850.3 million, or 21.6% in constant currency. Direct-to-consumer sales increased 26.0% and represented 45.7% of revenue, supporting On’s premium-brand positioning. On Holding Q2 Earnings DTC Drives Sales Increase
• Neutral Sentiment: Full-year revenue guidance was approximately $4.4 billion to $4.5 billion, near the $4.5 billion analyst consensus. Management’s decision to limit wholesale sell-in may protect pricing and reduce promotions, but it also implies slower reported sales growth in the near term. On Holding Q2 2026 Earnings Call Transcript
• Negative Sentiment: Revenue missed expectations. Reported sales of about $1.05 billion came in below analysts’ roughly $1.09 billion estimate. Wholesale growth was only 4.8%, and foreign-exchange effects materially reduced the reported growth rate. On shares tumble after quarterly net sales miss
• Negative Sentiment: Tariff costs and cautious consumer spending added pressure, while Needham lowered its price target from $45 to $37, although it retained a Buy rating. The combination of a sales miss, subdued wholesale demand and reduced earnings visibility outweighed the strong margins, driving the selloff. Needham lowers On Holding price target

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.