Guggenheim Reaffirms Buy Rating for ON (NYSE:ONON)

Key Points

• Guggenheim reaffirmed a Buy rating on ON Holding (NYSE: ONON) and set a $51 price target, implying about 47.65% upside from the prior close.
• Other analysts remain generally positive, with the stock carrying a Moderate Buy consensus and a $55.80 average price target, even though some firms recently trimmed targets.
• Shares rose 2.1% to $34.54 in Wednesday trading, while the company also saw CEO Martin Hoffmann sell 4,150 shares under a pre-arranged trading plan.

ON (NYSE:ONON - Get Free Report)'s stock had its "buy" rating reaffirmed by stock analysts at Guggenheim in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $51.00 price target on the stock. Guggenheim's target price suggests a potential upside of 47.65% from the stock's previous close.

Other equities research analysts also recently issued reports about the company. Evercore set a $42.00 target price on ON in a report on Tuesday. Raymond James Financial raised shares of ON from an "outperform" rating to a "strong-buy" rating and set a $52.00 target price for the company in a research report on Thursday, April 23rd. Zacks Research cut shares of ON from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 11th. Barclays set a $46.00 price objective on ON in a research note on Wednesday. Finally, BTIG Research reiterated a "buy" rating and set a $70.00 price objective on shares of ON in a research note on Tuesday, March 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $55.80.

ON Stock Up 2.1%

Shares of ONON stock traded up $0.71 during mid-day trading on Wednesday, reaching $34.54. 1,980,901 shares of the company's stock traded hands, compared to its average volume of 6,127,082. ON has a 12 month low of $31.41 and a 12 month high of $61.29. The company has a quick ratio of 2.13, a current ratio of 2.71 and a debt-to-equity ratio of 0.27. The company's 50-day moving average price is $36.73 and its 200-day moving average price is $41.92. The company has a market cap of $22.04 billion, a P/E ratio of 47.82, a P/E/G ratio of 0.69 and a beta of 2.09.

Insider Buying and Selling

In other news, CEO Martin Hoffmann sold 4,150 shares of the stock in a transaction on Monday, April 27th. The stock was sold at an average price of $35.84, for a total transaction of $148,736.00. Following the sale, the chief executive officer owned 1,385,099 shares in the company, valued at approximately $49,641,948.16. This represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 20,750 shares of company stock valued at $745,838 over the last quarter.

Institutional Investors Weigh In On ON

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of ON by 54.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 177,200 shares of the company's stock worth $8,320,000 after buying an additional 62,500 shares during the last quarter. Great Point Wealth Advisors LLC acquired a new stake in shares of ON during the third quarter worth about $1,607,000. Robinhood Asset Management LLC acquired a new position in shares of ON in the fourth quarter valued at approximately $4,747,000. Sands Capital Management LLC raised its stake in shares of ON by 46.7% in the 3rd quarter. Sands Capital Management LLC now owns 6,769,430 shares of the company's stock valued at $286,685,000 after purchasing an additional 2,155,083 shares during the period. Finally, American Century Companies Inc. lifted its stake in ON by 9.9% in the 3rd quarter. American Century Companies Inc. now owns 4,058,475 shares of the company's stock valued at $171,876,000 after acquiring an additional 365,907 shares in the last quarter. Institutional investors and hedge funds own 36.39% of the company's stock.

More ON News

Here are the key news stories impacting ON this week:

• Positive Sentiment: On Holding delivered Q1 results that beat expectations on both earnings and revenue, with record sales, margin improvement, and a raised 2026 EBITDA outlook signaling stronger profitability ahead. Read More
• Positive Sentiment: Analysts remain constructive overall, with brokerage coverage still averaging a “Moderate Buy,” suggesting the long-term thesis remains intact despite recent valuation resets. Read More
• Neutral Sentiment: Needham and Telsey both trimmed their price targets to $45 and $51, respectively, but each kept bullish ratings, indicating analysts still see upside even after the stock’s recent move lower. Read More
• Negative Sentiment: Some investors may be cautious because the company’s direct-to-consumer sales came in short of expectations, and multiple analysts lowered price targets ahead of and after earnings. Read More

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.

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