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

Onex Co. (TSE:ONEX) shares crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$111.03 and traded as low as C$101.97. Onex shares last traded at C$104.05, with a volume of 122,209 shares.

Analysts Set New Price Targets

Several brokerages recently issued reports on ONEX. Royal Bank Of Canada reduced their price objective on Onex from C$139.00 to C$133.00 and set a “sector perform” rating on the stock in a research note on Monday, February 23rd. TD Securities reduced their price target on shares of Onex from C$165.00 to C$160.00 in a research report on Monday, November 10th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Onex presently has an average rating of “Moderate Buy” and a consensus price target of C$149.50.

Onex Stock Performance

The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.41 and a current ratio of 357.45. The stock has a 50 day moving average of C$111.03 and a 200 day moving average of C$114.46. The stock has a market capitalization of C$7.14 billion, a P/E ratio of 11.72, a P/E/G ratio of 1.47 and a beta of 1.07.

Onex (TSE:ONEX) last announced its quarterly earnings results on Friday, February 20th. The company reported C$3.49 earnings per share (EPS) for the quarter. The company had revenue of C$307.97 million during the quarter. Onex had a net margin of 83.17% and a return on equity of 7.20%. Equities analysts predict that Onex Co. will post 0.4443794 EPS for the current year.

Onex Company Profile

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.