Morgan Stanley Issues Positive Forecast for ON (NYSE:ONON) Stock Price

ON (NYSE:ONON) had its target price boosted by research analysts at Morgan Stanley from $39.00 to $43.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley‘s price objective would indicate a potential upside of 26.07% from the stock’s previous close.

Several other research analysts also recently commented on the stock. BTIG Research restated a “buy” rating and set a $60.00 price objective on shares of ON in a research report on Tuesday, November 3rd. Truist Financial reduced their target price on ON from $48.00 to $40.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. Telsey Advisory Group decreased their price target on ON from $51.00 to $43.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 12th. Sanford C. Bernstein reissued an “outperform” rating on shares of ON in a report on Thursday, September 24th. Finally, Piper Sandler restated an “overweight” rating on shares of ON in a research report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $44.11.

ON Price Performance

ONON stock traded down $0.59 during mid-day trading on Wednesday, hitting $34.11. The stock had a trading volume of 3,997,116 shares, compared to its average volume of 7,387,598. The company has a current ratio of 2.83, a quick ratio of 2.25 and a debt-to-equity ratio of 0.25. ON has a 52 week low of $26.36 and a 52 week high of $51.08. The firm has a market capitalization of $21.76 billion, a P/E ratio of 23.23, a P/E/G ratio of 0.74 and a beta of 2.05. The firm has a fifty day simple moving average of $31.79 and a 200 day simple moving average of $36.41.

ON (NYSE:ONON) last issued its quarterly earnings results on Tuesday, November 10th. The company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.18. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.11 billion. ON had a net margin of 12.09% and a return on equity of 22.92%. The firm’s quarterly revenue was up 17.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.43 EPS. As a group, research analysts forecast that ON will post 1.50 EPS for the current year.

Insider Buying and Selling

In related news, insider Olivier Bernhard bought 65,000 shares of the business’s stock in a transaction on Friday, August 14th. The shares were purchased at an average price of $30.67 per share, for a total transaction of $1,993,550.00. Following the completion of the transaction, the insider directly owned 5,228,184 shares of the company’s stock, valued at approximately $160,348,403.28. This represents a 1.26% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, 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 cost of $30.67 per share, for a total transaction of $1,993,550.00. Following the purchase, the chief executive officer owned 2,440,855 shares of the company’s stock, valued at approximately $74,861,022.85. The trade was a 2.74% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure.

Institutional Investors Weigh In On ON

Several hedge funds have recently modified their holdings of ONON. Pictet Asset Management Holding SA increased its holdings in ON by 116.8% in the 3rd quarter. Pictet Asset Management Holding SA now owns 1,741,829 shares of the company’s stock worth $51,571,000 after purchasing an additional 938,285 shares in the last quarter. Voya Investment Management LLC boosted its stake in shares of ON by 220.6% during the third quarter. Voya Investment Management LLC now owns 1,002,302 shares of the company’s stock valued at $29,678,000 after purchasing an additional 689,634 shares in the last quarter. Eurizon Capital SGR S.p.A. boosted its stake in shares of ON by 159.9% during the third quarter. Eurizon Capital SGR S.p.A. now owns 931,031 shares of the company’s stock valued at $27,568,000 after purchasing an additional 572,854 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new stake in shares of ON during the first quarter worth about $5,694,000. Finally, B.A. Schrock Wealth Management Inc. bought a new stake in shares of ON during the third quarter worth about $3,991,000. Institutional investors and hedge funds own 36.39% of the company’s stock.

More ON News

These are some of the ONON news items that stood out recently:

• 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
• Neutral Sentiment: Goldman Sachs lowered its price target to $41, while Cantor Fitzgerald initiated coverage with an Overweight rating and a $46 target—analysts differ on valuation, but several see potential upside. Article: Goldman Sachs lowers ONON price target
• 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

About ON

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.