Onex (TSE:ONEX) Stock Price Passes Below 50-Day Moving Average – Should You Sell?

Onex Co. (TSE:ONEX) crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$112.27 and traded as low as C$106.15. Onex shares last traded at C$106.33, with a volume of 91,576 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ONEX shares. TD Securities decreased their price target on shares of Onex from C$165.00 to C$160.00 in a research report on Monday, November 10th. Scotiabank raised their target price on Onex from C$153.00 to C$175.00 in a report on Friday, October 31st. Finally, Royal Bank Of Canada cut their price target on Onex from C$141.00 to C$139.00 and set a “sector perform” rating for the company in a report on Monday, December 15th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$151.00.

Onex Stock Down 1.0%

The firm has a market cap of C$7.30 billion, a P/E ratio of 16.99, a price-to-earnings-growth ratio of 1.47 and a beta of 1.07. The company’s 50-day simple moving average is C$112.27 and its 200 day simple moving average is C$114.94. The company has a debt-to-equity ratio of 49.85, a current ratio of 17.51 and a quick ratio of 2.41.

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.