CIBC Issues Pessimistic Forecast for Onex (TSE:ONEX) Stock Price

Onex (TSE:ONEX - Get Free Report) had its target price cut by research analysts at CIBC from C$150.00 to C$130.00 in a note issued to investors on Monday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. CIBC's target price indicates a potential upside of 28.15% from the stock's previous close.

A number of other analysts also recently commented on ONEX. TD Securities lowered their target price on Onex from C$140.00 to C$137.00 in a research note on Monday, February 24th. Scotiabank decreased their price target on Onex from C$145.00 to C$130.00 and set an "outperform" rating for the company in a report on Thursday, April 24th.

Onex Stock Performance

TSE ONEX traded up C$2.37 on Monday, reaching C$101.44. 160,734 shares of the company's stock traded hands, compared to its average volume of 145,116. Onex has a fifty-two week low of C$85.36 and a fifty-two week high of C$118.91. The company has a debt-to-equity ratio of 49.85, a quick ratio of 2.41 and a current ratio of 17.51. The firm has a market cap of C$5.08 billion, a price-to-earnings ratio of 8.06, a P/E/G ratio of 1.47 and a beta of 1.53. The stock has a 50 day moving average price of C$96.53 and a 200-day moving average price of C$105.18.

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.