ON (NYSE:ONON) Price Target Cut to $51.00 by Analysts at Telsey Advisory Group

Key Points

• Telsey Advisory Group cut its price target on ON Holding from $60 to $51, while keeping an outperform rating. The new target still implies about 50.78% upside from the current share price.
• Wall Street sentiment remains generally constructive, with the stock carrying a Moderate Buy consensus and a consensus price target of $56.55. However, several firms have recently trimmed expectations or mixed their ratings on the name.
• ON shares were trading at $33.83, well below their 52-week high of $61.29. The company also saw insider selling, including CEO Martin Hoffmann selling 4,150 shares under a pre-arranged trading plan.

ON (NYSE:ONON - Get Free Report) had its price objective cut by stock analysts at Telsey Advisory Group from $60.00 to $51.00 in a note issued to investors on Wednesday. The brokerage currently has an "outperform" rating on the stock. Telsey Advisory Group's price objective would suggest a potential upside of 50.78% from the stock's current price.

A number of other research firms have also commented on ONON. Zacks Research lowered ON from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 11th. UBS Group reiterated a "buy" rating on shares of ON in a report on Thursday, February 19th. Truist Financial set a $48.00 target price on shares of ON in a research report on Tuesday. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of ON in a research report on Tuesday, April 21st. Finally, Barclays dropped their target price on shares of ON from $60.00 to $57.00 and set an "overweight" rating on the stock in a report on Wednesday, March 4th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $56.55.

ON Stock Performance

NYSE ONON opened at $33.83 on Wednesday. The stock has a market cap of $21.58 billion, a P/E ratio of 46.98, a PEG ratio of 0.69 and a beta of 2.09. The company's 50-day simple moving average is $36.73 and its 200 day simple moving average is $41.92. ON has a twelve month low of $31.41 and a twelve 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.

Insiders Place Their Bets

In other ON 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 transaction, the chief executive officer owned 1,385,099 shares in the company, valued at $49,641,948.16. This trade represents a 0.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 20,750 shares of company stock valued at $745,838.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Caitlin John LLC bought a new position in ON during the 4th quarter worth $25,000. Cullen Frost Bankers Inc. increased its position in ON by 639.7% during the 4th quarter. Cullen Frost Bankers Inc. now owns 540 shares of the company's stock worth $25,000 after buying an additional 467 shares during the period. MidAtlantic Capital Management Inc. bought a new position in ON during the 4th quarter worth $27,000. Caitong International Asset Management Co. Ltd increased its position in ON by 555.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 701 shares of the company's stock worth $33,000 after buying an additional 594 shares during the period. Finally, TD Private Client Wealth LLC increased its position in ON by 109.9% during the 4th quarter. TD Private Client Wealth LLC now owns 804 shares of the company's stock worth $37,000 after buying an additional 421 shares during the period. Institutional investors own 36.39% of the company's stock.

Trending Headlines about ON

Here are the key news stories impacting ON this week:

• Positive Sentiment: On Holding delivered better-than-expected Q1 results, with earnings and revenue topping estimates, and management raised 2026 EBITDA guidance, signaling improving profitability and continued brand strength. Article Title
• Positive Sentiment: Growth remains broad-based across sales channels, markets, and product categories, with China expansion and stronger apparel/accessories sales adding to the long-term growth story. Article Title
• Positive Sentiment: Several market recaps highlighted record sales and margins, reinforcing the idea that On Holding is gaining operating leverage as it scales. Article Title
• Neutral Sentiment: Needham cut its price target on ONON to $45 from $52, but kept a Buy rating, suggesting analysts still see upside even after trimming expectations. Article Title
• Neutral Sentiment: Brokerages continue to rate On Holding a “Moderate Buy,” indicating Wall Street sentiment remains constructive overall. Article Title
• Negative Sentiment: Despite the strong quarter, direct-to-consumer sales came in below expectations, which could limit enthusiasm about the pace of near-term growth in that channel. Article Title

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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