ON (NYSE:ONON) Shares Gap Down – Here’s What Happened

On Holding AG (NYSE:ONON)’s share price gapped down before the market opened on Tuesday. The stock had previously closed at $37.53, but opened at $34.72. ON shares last traded at $34.60, with a volume of 4,423,963 shares trading hands.

More ON News

Here are the key news stories impacting ON this week:

• Positive Sentiment: Q3 earnings beat analyst estimates, while sales grew 17.2% year over year to CHF 931.4 million. Direct-to-consumer sales rose 25%, and net income increased 36.9%. Article: On Holding AG Stock Slides Despite Strong Q3 Earnings and DTC Growth
• Positive Sentiment: Cantor Fitzgerald initiated coverage with an “overweight” rating and a $46 price target, implying potential upside from the cited share price. Article: Cantor Fitzgerald Stock Recommendations
• Negative Sentiment: Investors may be discounting the durability of the earnings beat: Q3 gross margin benefited from CHF 52.6 million in U.S. tariff refunds, a one-time boost that may not recur. Article: On Holding Falls as Investors Look Past Q3 Beat
• Negative Sentiment: On reiterated its full-year 2026 sales-growth outlook in the low-20% range at constant currency, rather than raising guidance after the quarter. Wholesale growth of 13.2% also lagged DTC growth, adding to concerns that momentum may be uneven. Article: On Holding Falls as Investors Look Past Q3 Beat

Analyst Upgrades and Downgrades

Several analysts have issued reports on ONON shares. Capital One Financial set a $28.00 target price on ON in a research note on Tuesday, September 8th. Truist Financial lowered their price target on shares of ON from $48.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th. Zacks Research upgraded shares of ON from a “strong sell” rating to a “hold” rating in a research report on Monday, October 12th. The Goldman Sachs Group restated a “buy” rating on shares of ON in a research report on Tuesday, September 22nd. Finally, Evercore set a $40.00 price objective on ON in a research note on Wednesday, August 12th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $43.81.

ON Stock Down 8.2%

The firm has a market capitalization of $22.00 billion, a P/E ratio of 23.41, a price-to-earnings-growth ratio of 0.76 and a beta of 2.05. The company’s fifty day simple moving average is $31.67 and its 200 day simple moving average is $36.47. The company has a current ratio of 2.83, a quick ratio of 2.25 and a debt-to-equity ratio of 0.25.

ON (NYSE:ONON) last issued its quarterly earnings data on Tuesday, August 11th. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.07). The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.09 billion. ON had a return on equity of 22.92% and a net margin of 12.09%. The business’s quarterly revenue was up 13.5% on a year-over-year basis. During the same quarter last year, the business earned ($0.09) earnings per share. Research analysts expect that On Holding AG will post 1.50 EPS for the current year.

Insider Transactions at ON

In other ON news, insider Olivier Bernhard bought 65,000 shares of the stock in a transaction dated Friday, August 14th. The stock was purchased at an average cost of $30.67 per share, for a total transaction of $1,993,550.00. Following the completion of the acquisition, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Caspar Coppetti bought 65,000 shares of the stock in a transaction dated Friday, August 14th. The shares were acquired at an average price of $30.67 per share, with a total value of $1,993,550.00. Following the completion of the acquisition, the chief executive officer directly owned 2,440,855 shares of the company’s stock, valued at approximately $74,861,022.85. The trade was a 2.74% increase in their position. The SEC filing for this purchase provides additional information.

Institutional Investors Weigh In On ON

Several hedge funds have recently added to or reduced their stakes in ONON. Wellington Management Group LLP grew its holdings in shares of ON by 2.3% during the second quarter. Wellington Management Group LLP now owns 2,751,615 shares of the company’s stock valued at $97,462,000 after buying an additional 62,404 shares during the last quarter. Pictet Asset Management Holding SA boosted its holdings in shares of ON by 116.8% in the third quarter. Pictet Asset Management Holding SA now owns 1,741,829 shares of the company’s stock worth $51,571,000 after buying an additional 938,285 shares during the last quarter. Bessemer Group Inc. grew its position in ON by 5.7% during the first quarter. Bessemer Group Inc. now owns 1,194,774 shares of the company’s stock valued at $40,647,000 after buying an additional 63,932 shares during the period. Eurizon Capital SGR S.p.A. grew 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 buying an additional 572,854 shares during the period. Finally, Arnhold LLC increased its holdings in ON by 19.0% during the third quarter. Arnhold LLC now owns 465,100 shares of the company’s stock valued at $13,772,000 after buying an additional 74,200 shares during the last quarter. 36.39% of the stock is owned by institutional investors.

ON Company Profile