Onex (TSE:ONEX) Stock Price Down 0.2% - Should You Sell?

Key Points

• Onex stock price fell by 0.2%, closing at C$121.08 after reaching a low of C$120.13 during trading, with a significant drop in trading volume by 43% compared to average daily volumes.
• Analysts are optimistic about Onex, with price targets raised; Scotiabank set C$150.00, while TD Securities raised theirs to C$148.00, reflecting a consensus rating of "Moderate Buy" and a price target of C$142.25.
• Onex has a market capitalization of C$8.31 billion, with strong liquidity ratios and a P/E ratio of 16.52, indicating a robust financial position amidst recent stock movement.

Onex Co. (TSE:ONEX - Get Free Report)'s share price dropped 0.2% during mid-day trading on Tuesday . The company traded as low as C$120.13 and last traded at C$121.08. Approximately 82,467 shares changed hands during mid-day trading, a decline of 43% from the average daily volume of 145,311 shares. The stock had previously closed at C$121.27.

Wall Street Analysts Forecast Growth

ONEX has been the subject of a number of research analyst reports. Scotiabank lifted their price target on Onex from C$140.00 to C$150.00 and gave the company an "outperform" rating in a report on Thursday, October 2nd. Royal Bank Of Canada set a C$141.00 price objective on Onex and gave the stock a "sector perform" rating in a research report on Wednesday, October 1st. Finally, TD Securities lifted their price objective on Onex from C$142.00 to C$148.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Three 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 has a consensus rating of "Moderate Buy" and a consensus price target of C$142.25.

Onex Trading Down 0.2%

The company has a market cap of C$8.31 billion, a P/E ratio of 16.52, a PEG ratio of 1.47 and a beta of 1.16. The company has a current ratio of 17.51, a quick ratio of 2.41 and a debt-to-equity ratio of 49.85. The business has a 50 day moving average price of C$118.13 and a 200-day moving average price of C$108.39.

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.

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