ON (NYSE:ONON) Price Target Lowered to $60.00 at Telsey Advisory Group

ON (NYSE:ONON) had its price objective trimmed by Telsey Advisory Group from $65.00 to $60.00 in a research report sent to investors on Wednesday, MarketBeat Ratings reports. The firm currently has an outperform rating on the stock.

A number of other brokerages have also recently issued reports on ONON. KeyCorp reiterated an “overweight” rating on shares of ON in a research note on Wednesday, March 4th. Piper Sandler restated an “overweight” rating on shares of ON in a report on Friday, December 5th. Truist Financial dropped their price target on shares of ON from $65.00 to $55.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Guggenheim cut their price target on shares of ON from $59.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday, March 4th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of ON in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, ON presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.24.

ON Stock Performance

Shares of NYSE ONON opened at $35.26 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.13 and a current ratio of 2.71. The stock has a 50 day moving average price of $43.76 and a 200 day moving average price of $43.81. The stock has a market capitalization of $22.50 billion, a PE ratio of 48.97, a price-to-earnings-growth ratio of 0.79 and a beta of 2.14. ON has a 52 week low of $34.38 and a 52 week high of $61.29.

Insider Buying and Selling at ON

In related news, CEO Martin Hoffmann sold 4,150 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $39.79, for a total transaction of $165,128.50. Following the transaction, the chief executive officer directly owned 1,357,020 shares of the company’s stock, valued at approximately $53,995,825.80. The trade was a 0.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 68.57% of the company’s stock.

Hedge Funds Weigh In On ON

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cullen Frost Bankers Inc. boosted its holdings 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 acquiring an additional 467 shares during the period. Caitlin John LLC bought a new position in shares of ON during the fourth quarter worth approximately $25,000. MidAtlantic Capital Management Inc. bought a new position in shares of ON during the fourth quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd lifted its holdings 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 purchasing an additional 594 shares during the last quarter. Finally, TD Private Client Wealth LLC lifted its holdings 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 purchasing an additional 421 shares during the last quarter. 36.39% of the stock is owned by institutional investors.

Key ON News

Here are the key news stories impacting ON this week:

• Positive Sentiment: Co‑founders named co‑CEOs, which could preserve strategy and brand continuity; the company positioned the change as a planned leadership transition. BusinessWire announcement
• Positive Sentiment: Some sell‑side support remains: Telsey Advisory trimmed its price target (from $65 to $60) but kept an Outperform rating, signaling analysts still see upside over time. Benzinga
• Neutral Sentiment: Analyst consensus is roughly in the “moderate buy” area, indicating institutional views are mixed but not uniformly negative. Analyst roundup
• Neutral Sentiment: On has been a trending/closely watched name recently; increased attention can amplify intraday moves and volatility. Zacks trending note
• Negative Sentiment: Longtime CEO Martin Hoffmann stepped down (to an advisor role through 2027), a leadership change that spooked investors and undercut confidence in near‑term execution amid slowing growth. CNBC
• Negative Sentiment: Insider sale: Hoffmann sold ~4,150 shares last week; while small relative to his holding, the timing around the announcement likely amplified negative sentiment. SEC filing
• Negative Sentiment: Market reaction: heavy trading and large intraday selling pushed the share price toward its 52‑week low, reflecting short‑term risk aversion around execution and leadership continuity. Zacks market note

About ON

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.