Onex (TSE:ONEX) Stock Price Breaks Above 200-Day Moving Average – Should You Sell?

Onex Co. (TSE:ONEX)’s stock price passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of C$108.10 and traded as high as C$111.00. Onex shares last traded at C$109.03, with a volume of 313,085 shares changing hands.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Royal Bank Of Canada raised their price target on Onex from C$130.00 to C$135.00 and gave the company a “sector perform” rating in a research note on Friday, August 14th. BMO Capital Markets set a C$160.00 price target on shares of Onex and gave the company an “outperform” rating in a report on Thursday, October 1st. TD decreased their target price 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. Finally, RBC Dominion Securities decreased their target price on Onex from C$135.00 to C$129.00 and set a “sector perform” rating for the company in a research note on Thursday, October 15th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of C$147.00.

Onex Trading Up 4.5%

The company has a quick ratio of 2.41, a current ratio of 1.82 and a debt-to-equity ratio of 0.29. The company has a market capitalization of C$8.54 billion, a PE ratio of 16.65, a price-to-earnings-growth ratio of 1.47 and a beta of 0.84. The stock’s 50 day moving average is C$106.98 and its two-hundred day moving average is C$108.03.

Onex (TSE:ONEX) last issued its quarterly earnings data on Thursday, August 13th. The company reported C$2.43 earnings per share (EPS) for the quarter. The firm had revenue of C$287.00 million during the quarter. Onex had a return on equity of 5.25% and a net margin of 101.81%. As a group, sell-side analysts predict that Onex Co. will post 0.44 EPS for the current fiscal 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.