KeyCorp Cuts ON (NYSE:ONON) Price Target to $43.00

ON (NYSE:ONON) had its price objective reduced by stock analysts at KeyCorp from $58.00 to $43.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. KeyCorp’s price objective would suggest a potential upside of 27.12% from the stock’s previous close.

Several other analysts also recently weighed in on the stock. Raymond James Financial upgraded shares of ON from an “outperform” rating to a “strong-buy” rating and set a $52.00 price objective for the company in a research report on Thursday, April 23rd. Barclays set a $46.00 price target on shares of ON in a research note on Wednesday. Stifel Nicolaus set a $58.00 price target on shares of ON in a research report on Tuesday, March 3rd. Zacks Research downgraded shares of ON from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 11th. Finally, Evercore set a $42.00 target price on ON in a research report on Tuesday. Two 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 given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $55.80.

ON Stock Down 0.6%

Shares of NYSE ONON opened at $33.83 on Wednesday. The business has a 50-day moving average of $36.73 and a two-hundred day moving average of $41.92. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.71 and a quick ratio of 2.13. The company has a market capitalization of $21.58 billion, a price-to-earnings ratio of 46.98, a price-to-earnings-growth ratio of 0.69 and a beta of 2.09. ON has a 1 year low of $31.41 and a 1 year high of $61.29.

Insider Transactions at ON

In other news, CEO Martin Hoffmann sold 4,150 shares of the firm’s stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $35.84, for a total value of $148,736.00. Following the completion of the sale, the chief executive officer directly owned 1,385,099 shares of the company’s stock, 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 through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 20,750 shares of company stock worth $745,838.

Institutional Trading of ON

A number of institutional investors have recently added to or reduced their stakes in ONON. Platinum Paramount Investment LTD. purchased a new stake in ON during the fourth quarter worth $525,784,000. Sinvest Investments II Ltd. acquired a new position in shares of ON during the 4th quarter worth $390,432,000. Morgan Stanley boosted its position in shares of ON by 40.9% in the 4th quarter. Morgan Stanley now owns 24,119,871 shares of the company’s stock worth $1,121,092,000 after buying an additional 6,997,455 shares in the last quarter. FengHe Fund Management Pte. Ltd. purchased a new stake in shares of ON in the 4th quarter worth about $142,425,000. Finally, Norges Bank acquired a new stake in ON in the 4th quarter valued at about $128,826,000. Hedge funds and other institutional investors own 36.39% of the company’s stock.

Key Stories Impacting ON

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

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.