Onex (TSE:ONEX) Stock Price Crosses Below 50 Day Moving Average – Here’s What Happened

Shares of Onex Co. (TSE:ONEX) passed 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 Ratings Changes

A number of research firms have recently issued reports on ONEX. Royal Bank Of Canada dropped their price objective on shares of Onex from C$141.00 to C$139.00 and set a “sector perform” rating on the stock in a research note on Monday, December 15th. Scotiabank lifted their target price on shares of Onex from C$153.00 to C$175.00 in a research note on Friday, October 31st. Finally, TD Securities dropped their price target on Onex from C$165.00 to C$160.00 in a research note on Monday, November 10th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Onex presently has a consensus rating of “Moderate Buy” and an average target price of C$151.00.

Onex Trading Down 1.0%

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

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.