ON’s (ONON) “Buy” Rating Reiterated at BTIG Research

BTIG Research reissued their buy rating on shares of ON (NYSE:ONON) in a research report released on Wednesday,Benzinga reports. The firm currently has a $60.00 price objective on the stock.

Several other research firms have also weighed in on ONON. Barclays cut their target price on ON from $46.00 to $42.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 12th. Robert W. Baird lowered their price target on ON from $70.00 to $55.00 and set an “outperform” rating for the company in a research note on Wednesday, August 12th. Evercore set a $40.00 price target on shares of ON in a research report on Wednesday, August 12th. Needham & Company LLC reduced their price objective on shares of ON from $45.00 to $37.00 and set a “buy” rating on the stock in a research note on Tuesday, August 11th. Finally, Telsey Advisory Group decreased their price objective on shares of ON from $51.00 to $43.00 and set an “outperform” rating for the company in a report on Wednesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $43.92.

ON Price Performance

ONON opened at $27.25 on Wednesday. The company has a fifty day moving average price of $32.45 and a two-hundred day moving average price of $35.53. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.25 and a current ratio of 2.83. ON has a 52 week low of $26.36 and a 52 week high of $51.08. The firm has a market capitalization of $17.39 billion, a PE ratio of 18.54, a P/E/G ratio of 0.55 and a beta of 2.08.

ON (NYSE:ONON) last issued its earnings results on Tuesday, August 11th. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.07). ON had a net margin of 12.09% and a return on equity of 22.92%. The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the previous year, the firm posted ($0.09) EPS. The business’s revenue was up 13.5% on a year-over-year basis. As a group, analysts anticipate that ON will post 1.49 earnings per share for the current year.

Insider Activity

In other ON news, insider Olivier Bernhard acquired 65,000 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were acquired at an average price of $30.67 per share, for a total transaction of $1,993,550.00. Following the acquisition, the insider directly owned 5,228,184 shares of the company’s stock, valued at approximately $160,348,403.28. This trade represents a 1.26% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Caspar Coppetti acquired 65,000 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The stock was acquired at an average price of $30.67 per share, with a total value of $1,993,550.00. Following the completion of the transaction, the chief executive officer directly owned 2,440,855 shares in the company, valued at $74,861,022.85. This trade represents a 2.74% increase in their position. The disclosure for this purchase is available in the SEC filing. 68.57% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Cullen Frost Bankers Inc. boosted its holdings in shares of ON by 639.7% in the fourth quarter. Cullen Frost Bankers Inc. now owns 540 shares of the company’s stock valued at $25,000 after buying an additional 467 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of ON by 69.6% during the first quarter. EverSource Wealth Advisors LLC now owns 760 shares of the company’s stock worth $26,000 after acquiring an additional 312 shares during the period. MidAtlantic Capital Management Inc. acquired a new stake in shares of ON during the fourth quarter worth $27,000. Ascentis Independent Advisors bought a new stake in ON in the 1st quarter valued at $34,000. Finally, TD Private Client Wealth LLC lifted its position in 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 acquiring an additional 421 shares in 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: Kylian Mbappé partnership boosts global visibility. On signed French football superstar Kylian Mbappé, marking a major expansion into football and giving the Swiss footwear company a prominent international ambassador. The deal is viewed as a competitive win against Nike and could support brand awareness, product sales and long-term growth. On Holding Stock Jumps as Swiss Sneaker Company Enters Football With Mbappé, Henry
• Positive Sentiment: Analysts continue to endorse the shares. Needham reaffirmed a “Buy” rating with a $37 price target, implying substantial upside from recent levels. BTIG Research and Berenberg Bank also issued or maintained “Buy” ratings, supporting the bullish case despite the stock’s recent weakness. Needham Reaffirms Buy Rating on On Holding ON Earns Buy Rating from BTIG Research
• Neutral Sentiment: Investor attention is elevated. Trading volume has been substantially above average, suggesting heightened interest around the Mbappé announcement and the stock’s technical weakness. However, elevated activity alone does not establish a lasting change in sentiment.
• Negative Sentiment: Operating concerns remain the main overhang. On Holding’s recent three-month slide reflects weak Americas wholesale trends and cautious retailer sell-in, even as direct-to-consumer sales and new product launches provide support. The company’s latest quarterly results also missed consensus estimates for both earnings and revenue. On Holding Stock Falls 30% in Three Months
• Negative Sentiment: Bearish options positioning signals caution. Traders purchased 42,982 put options, roughly 191% above the average daily volume, while the shares recently traded near two-year lows. This activity indicates that some investors are positioning for additional downside or protecting existing holdings. 3 Stocks Put Traders Are Targeting Today

About ON

On Holding AG, known as On, is a Swiss sportswear company that develops and sells performance footwear, apparel and accessories. The company is particularly recognized for its running shoes, which incorporate proprietary technologies such as CloudTec cushioning and Speedboard components designed to support comfort, responsiveness and energy return.

On serves athletes and consumers across categories including running, outdoor activities, training and everyday performance. Its products are sold through the company’s direct-to-consumer channels, including its website and branded retail stores, as well as through a network of wholesale partners in markets around the world.

On was founded in 2010 in Switzerland by Olivier Bernhard, David Allemann and Caspar Coppetti.