ONEX (OTCMKTS:ONEXF) Stock Price Passes Above Fifty Day Moving Average – What’s Next?

ONEX Corporation (OTCMKTS:ONEXF) crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $81.67 and traded as high as $85.89. ONEX shares last traded at $84.60, with a volume of 71,482 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on ONEXF shares. Royal Bank Of Canada began coverage on ONEX in a research note on Wednesday, October 1st. They set a “hold” rating on the stock. TD Securities reiterated a “buy” rating on shares of ONEX in a research note on Friday, October 31st. Finally, Scotiabank restated an “outperform” rating on shares of ONEX in a research note on Friday, October 31st. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

ONEX Price Performance

The company’s 50-day simple moving average is $81.67 and its 200-day simple moving average is $83.50. The stock has a market capitalization of $5.80 billion, a price-to-earnings ratio of 13.62 and a beta of 1.23.

ONEX (OTCMKTS:ONEXF) last posted its earnings results on Friday, November 7th. The company reported $0.57 EPS for the quarter. The company had revenue of $129.00 million for the quarter. ONEX had a return on equity of 5.09% and a net margin of 56.15%.

About ONEX

Onex Corporation is a Toronto‐based investment firm specializing in private equity and credit strategies across a range of industries. The company raises capital through independently managed funds and deploys it in buyouts, recapitalizations and growth investments targeting companies with strong management teams and potential for operational improvement. Onex also manages a public markets platform that invests in publicly traded companies, employing a value‐oriented approach to create long‐term shareholder value.

Through its private equity arm, Onex Partners, the firm pursues transactions in sectors such as aerospace and defense, healthcare, financial services, industrial manufacturing and packaging.