ON (NYSE:ONON) Stock Price Target Lowered at UBS Group

Key Points

• UBS lowered its price target on ON from $73 to $65 but maintained a Buy rating; the new target implies about 87% upside from the stock’s $34.77 price.
• ON reported quarterly EPS of $0.65, beating the $0.47 consensus estimate. Revenue was $1.11 billion, in line with expectations and up 17.2% year over year.
• Despite the earnings beat, investor concerns include a $52.6 million benefit from U.S. tariff refunds to reported gross margin and an unchanged full-year sales-growth outlook. Analysts’ consensus rating is Moderate Buy, with an average target of $43.82.

ON (NYSE:ONON - Get Free Report) had its price objective lowered by equities researchers at UBS Group from $73.00 to $65.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. UBS Group's price objective points to a potential upside of 86.96% from the stock's current price.

ONON has been the topic of a number of other reports. Capital One Financial set a $28.00 price target on shares of ON in a research report on Tuesday, September 8th. Truist Financial cut their price objective on shares of ON from $48.00 to $40.00 and set a "buy" rating for the company in a report on Tuesday, August 11th. Robert W. Baird decreased their target price on shares of ON from $70.00 to $55.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 12th. Evercore set a $40.00 target price on shares of ON in a report on Wednesday, August 12th. Finally, Williams Trading set a $32.00 target price on shares of ON in a report on Tuesday, August 11th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $43.82.

ON Stock Performance

NYSE:ONON traded up $0.07 during mid-day trading on Wednesday, hitting $34.77. 8,270,946 shares of the stock were exchanged, compared to its average volume of 7,405,153. The stock has a market capitalization of $22.19 billion, a price-to-earnings ratio of 23.65, a price-to-earnings-growth ratio of 0.74 and a beta of 2.05. The firm's 50-day simple moving average is $31.79 and its 200 day simple moving average is $36.41. 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 fifty-two week low of $26.36 and a fifty-two week high of $51.08.

ON (NYSE:ONON - Get Free Report) last released its quarterly earnings results on Tuesday, November 10th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.18. ON had a return on equity of 22.92% and a net margin of 12.09%. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the previous year, the company posted $0.43 EPS. The firm's quarterly revenue was up 17.2% on a year-over-year basis. As a group, equities analysts anticipate that ON will post 1.50 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Olivier Bernhard purchased 65,000 shares of the firm's stock in a transaction that occurred on Friday, August 14th. The shares were bought 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 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Caspar Coppetti purchased 65,000 shares of the company's stock in a transaction that occurred on Friday, August 14th. The stock was bought at an average cost of $30.67 per share, with a total value of $1,993,550.00. Following the purchase, the chief executive officer owned 2,440,855 shares of the company's stock, valued at $74,861,022.85. This represents a 2.74% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing.

Hedge Funds Weigh In On ON

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP boosted its position in shares of ON by 2.3% during the 2nd quarter. Wellington Management Group LLP now owns 2,751,615 shares of the company's stock worth $97,462,000 after acquiring an additional 62,404 shares in the last quarter. Pictet Asset Management Holding SA increased its stake in ON by 116.8% in the third quarter. Pictet Asset Management Holding SA now owns 1,741,829 shares of the company's stock valued at $51,571,000 after acquiring an additional 938,285 shares during the last quarter. Bessemer Group Inc. increased its stake in ON by 5.7% in the first quarter. Bessemer Group Inc. now owns 1,194,774 shares of the company's stock valued at $40,647,000 after acquiring an additional 63,932 shares during the last quarter. Voya Investment Management LLC increased its stake in ON by 220.6% in the third quarter. Voya Investment Management LLC now owns 1,002,302 shares of the company's stock valued at $29,678,000 after acquiring an additional 689,634 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. raised its position in 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. 36.39% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about ON

Here are a few of the latest headlines about ONON:

• Positive Sentiment: Several analysts reiterated bullish views or raised targets: JPMorgan lifted its target to $46, Morgan Stanley to $43, and KeyCorp to $42, all retaining overweight ratings. Barclays trimmed its target to $42 but also kept an overweight rating. Analyst forecast revisions
• Positive Sentiment: Q3 revenue rose 17.2% to CHF 931.4 million, with direct-to-consumer sales up 25%; earnings also beat estimates. On raised its fiscal 2026 comparable gross-margin outlook to about 66% and expects Q4 growth to accelerate. Q3 results and outlook
• Negative Sentiment: The earnings beat may look less sustainable because Q3 reported gross margin benefited from CHF 52.6 million in U.S. tariff refunds. On left its full-year sales-growth outlook unchanged, while inventory growth and promotional risks add to investor caution. Investor concerns after Q3

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.

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