Onex (TSE:ONEX) Stock Price Crosses Below Fifty Day Moving Average – Time to Sell?

Onex Co. (TSE:ONEX) shares passed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of C$110.84 and traded as low as C$108.00. Onex shares last traded at C$110.50, with a volume of 137,303 shares traded.

Analyst Ratings Changes

ONEX has been the topic of a number of research analyst reports. TD decreased their price target on Onex from C$165.00 to C$163.00 and set a “buy” rating on the stock in a research report on Friday, August 14th. Royal Bank Of Canada boosted their price objective on Onex from C$130.00 to C$135.00 and gave the stock a “sector perform” rating in a research note on Friday, August 14th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$153.60.

Onex Price Performance

The company has a 50 day moving average price of C$110.84 and a 200 day moving average price of C$108.29. The company has a market capitalization of C$8.43 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 1.47 and a beta of 0.77. The company has a current ratio of 1.82, a quick ratio of 2.41 and a debt-to-equity ratio of 0.29.

Onex (TSE:ONEX) last issued its quarterly earnings results on Thursday, August 13th. The company reported C$2.43 earnings per share (EPS) for the quarter. The business had revenue of C$287.00 million for the quarter. Onex had a return on equity of 5.25% and a net margin of 101.81%. As a group, equities research analysts forecast that Onex Co. will post 0.4443794 earnings per share for the current year.

About Onex

Onex Corporation is a private equity investor and asset management firm. The company operates in two main segments: investing, which includes private equity, private credit, and direct investments; and asset and wealth management, which manages pension plans, sovereign wealth funds, insurance companies, and family offices. Investing revenue primarily comes from net gains on corporate investments and CLOs (collateralized loan investments). Asset and wealth management revenue comes primarily from management and performance fees.