ON (NYSE:ONON) Given New $55.00 Price Target at Robert W. Baird

ON (NYSE:ONON) had its target price dropped by equities researchers at Robert W. Baird from $70.00 to $55.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s target price indicates a potential upside of 77.74% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. Williams Trading set a $32.00 target price on ON in a research report on Tuesday. Barclays reissued an “overweight” rating and set a $42.00 price objective on shares of ON in a research report on Wednesday. BTIG Research lowered their target price on shares of ON from $70.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday. Needham & Company LLC dropped their price target on shares of ON from $45.00 to $37.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Jefferies Financial Group set a $20.00 price target on shares of ON in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $50.00.

ON Stock Down 20.2%

Shares of NYSE ONON opened at $30.94 on Wednesday. The company has a market capitalization of $19.75 billion, a P/E ratio of 33.27, a P/E/G ratio of 0.71 and a beta of 2.12. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.98 and a quick ratio of 2.39. The company has a 50 day simple moving average of $37.17 and a 200-day simple moving average of $38.81. ON has a 1 year low of $30.11 and a 1 year high of $52.20.

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

Insiders Place Their Bets

In related news, CEO Caspar Felix Coppetti purchased 60,000 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were bought at an average price of $36.64 per share, for a total transaction of $2,198,400.00. Following the acquisition, 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Olivier Bernhard purchased 60,000 shares of ON stock in a transaction on Thursday, May 14th. The stock was bought at an average cost of $36.63 per share, for a total transaction of $2,197,800.00. Following the transaction, the insider directly owned 5,163,184 shares in the company, valued at $189,127,429.92. This represents a 1.18% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 180,000 shares of company stock worth $6,594,000 over the last 90 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Caitlin John LLC purchased a new stake in shares of ON in the 4th quarter valued at approximately $25,000. Cullen Frost Bankers Inc. grew its stake in shares of ON by 639.7% during the fourth 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. MidAtlantic Capital Management Inc. acquired a new position in shares of ON during the fourth quarter worth $27,000. Caitong International Asset Management Co. Ltd increased its holdings in ON by 555.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 701 shares of the company’s stock valued at $33,000 after buying an additional 594 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in ON by 69.6% in 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 in the last quarter. Institutional investors and hedge funds own 36.39% of the company’s stock.

Key ON News

Here are the key news stories impacting ON this week:

• Positive Sentiment: Direct-to-consumer sales increased 26% year over year, while Asia-Pacific growth and the company’s selective distribution strategy supported improved profitability. On raised its fiscal 2026 gross-margin outlook to at least 65%. On Holding Slides After Q2 Sales Missed Expectations Despite Strong Margins
• Positive Sentiment: Analysts at BTIG and Needham maintained Buy ratings, while one Seeking Alpha analysis described the post-earnings valuation as potentially attractive for growth-oriented investors. However, both firms lowered their price targets, reflecting greater near-term uncertainty. BTIG Price Target
• Neutral Sentiment: Second-quarter earnings were broadly in line with or slightly above estimates, depending on the data source, but revenue growth of roughly 13.5% year over year fell short of Wall Street expectations. On Holding Earnings Report
• Negative Sentiment: Wholesale sales growth slowed to approximately 5%, significantly below the 26% increase in direct-to-consumer sales. Management is intentionally limiting wholesale sell-in to protect pricing and brand positioning, but investors viewed the strategy as a sign of softer near-term demand. On Shares Fall Sharply After Wholesale Slowdown in Q2
• Negative Sentiment: Fiscal 2026 revenue guidance of approximately $4.4 billion to $4.5 billion was around or below the $4.5 billion consensus estimate. Higher U.S. tariff costs, foreign-exchange pressure and cautious consumer spending added to concerns about slowing sales growth. On Shares Tumble After Revenue Miss
• Negative Sentiment: William Blair downgraded ONON from Outperform to Market Perform, and Needham, BTIG and other analysts reduced price targets following the results. These actions reinforced the market’s concern that growth may moderate before the company’s longer-term expansion opportunities fully offset the slowdown. William Blair Downgrade

ON Company Profile

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.