Robert W. Baird Cuts ON (NYSE:ONON) Price Target to $55.00

ON (NYSE:ONON) had its price target lowered by Robert W. Baird from $70.00 to $55.00 in a research note issued to investors on Wednesday morning, Marketbeat.com reports. Robert W. Baird currently has an outperform rating on the stock.

Several other equities research analysts also recently issued reports on the stock. Jefferies Financial Group set a $20.00 price objective on shares of ON in a research report on Tuesday. Truist Financial reduced their target price on shares of ON from $48.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday. Barclays lowered their target price on ON from $46.00 to $42.00 and set an “overweight” rating for the company in a report on Wednesday. Williams Trading set a $32.00 price objective on ON in a research report on Tuesday. Finally, Needham & Company LLC cut their target price on ON from $45.00 to $37.00 and set a “buy” rating on the stock in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.57.

ON Price Performance

Shares of ONON stock opened at $32.23 on Wednesday. ON has a 12-month low of $30.11 and a 12-month high of $51.08. The firm has a market capitalization of $20.57 billion, a price-to-earnings ratio of 21.93, a price-to-earnings-growth ratio of 0.63 and a beta of 2.12. The company has a quick ratio of 2.39, a current ratio of 2.83 and a debt-to-equity ratio of 0.25. The firm has a fifty day moving average of $36.82 and a 200-day moving average of $38.55.

ON (NYSE:ONON) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.07). The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.09 billion. ON had a return on equity of 22.92% and a net margin of 12.09%.The firm’s revenue was up 13.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.09) earnings per share. On average, equities research analysts forecast that ON will post 1.51 earnings per share for the current year.

Institutional Investors Weigh In On ON

Several institutional investors and hedge funds have recently bought and sold shares of ONON. Jacobi Capital Management LLC increased its holdings in ON by 3.6% in the 4th quarter. Jacobi Capital Management LLC now owns 6,875 shares of the company’s stock valued at $320,000 after buying an additional 240 shares during the period. Parallel Advisors LLC boosted its position in shares of ON by 2.8% during the 4th quarter. Parallel Advisors LLC now owns 10,455 shares of the company’s stock worth $486,000 after acquiring an additional 285 shares in the last quarter. J.W. Cole Advisors Inc. boosted its position in shares of ON by 2.4% during the 4th quarter. J.W. Cole Advisors Inc. now owns 12,283 shares of the company’s stock worth $571,000 after acquiring an additional 285 shares in the last quarter. MetLife Investment Management LLC increased its stake in ON by 2.2% in the fourth quarter. MetLife Investment Management LLC now owns 14,411 shares of the company’s stock valued at $670,000 after acquiring an additional 308 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased 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 acquiring an additional 312 shares during the last quarter. 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: The stock’s rebound suggests some investors may view the August 11 selloff as an overreaction. On Holding’s underlying business still delivered year-over-year revenue growth, although the company’s revised guidance remains a concern. On Holding Just Had Its Worst Trading Day Ever
• Neutral Sentiment: Analyst commentary remains divided on On Holding and other consumer-cyclical companies, indicating uncertainty about the company’s growth trajectory, brand demand and expansion across sales channels. Analysts Offer Insights on Consumer Cyclical Companies Analysts Have Conflicting Sentiments
• Negative Sentiment: Telsey Advisory Group lowered its price target to $43, adding to investor concerns about valuation and slower-than-expected growth. Telsey Advisory Group Lowers ON Price Target
• Negative Sentiment: Robert W. Baird and UBS Group also reduced their expectations for ONON, reinforcing a broad analyst reassessment following the earnings report. Robert W. Baird Lowers Expectations UBS Lowers Expectations
• Negative Sentiment: BTIG issued a pessimistic forecast, while William Blair downgraded the stock to Market Perform and Needham issued a similarly cautious outlook. These actions could limit upside in the near term. BTIG Research Forecast William Blair Downgrade Needham Forecast
• Negative Sentiment: The key catalyst behind the analyst cuts was On Holding’s second-quarter earnings miss and trimmed guidance. Shares remain below their 50-day and 200-day moving averages, highlighting continued technical weakness. On Holding Global Brand Demand and Channel Expansion

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.