Onex (TSE:ONEX) Stock Price Up 1.7% – Still a Buy?

Onex Co. (TSE:ONEX) shares shot up 1.7% during mid-day trading on Tuesday . The stock traded as high as C$110.48 and last traded at C$109.90. 73,959 shares changed hands during trading, a decline of 35% from the average session volume of 114,156 shares. The stock had previously closed at C$108.05.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ONEX. Royal Bank Of Canada reduced their price target on shares of Onex from C$136.00 to C$130.00 and set a “sector perform” rating on the stock in a research report on Tuesday, May 19th. Canadian Imperial Bank of Commerce set a C$135.00 price target on shares of Onex and gave the stock a “neutral” rating in a research report on Monday, April 27th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Onex presently has an average rating of “Moderate Buy” and a consensus target price of C$150.00.

Onex Stock Up 1.7%

The company’s 50-day moving average price is C$109.64 and its 200-day moving average price is C$109.14. The firm has a market cap of C$8.38 billion, a price-to-earnings ratio of 13.27, a PEG ratio of 1.47 and a beta of 0.80.

Onex (TSE:ONEX) last issued its earnings results on Friday, May 15th. The company reported C$2.28 earnings per share for the quarter. The firm had revenue of C$259.99 million for the quarter. Onex had a net margin of 96.42% and a return on equity of 6.52%. On average, sell-side analysts predict that Onex Co. will post 0.4443794 earnings per share for the current fiscal year.

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.