Onex (TSE:ONEX) Stock Price Down 1.2% - Time to Sell?

Key Points

• Onex Co. (TSE:ONEX) shares fell by 1.2% on Monday, trading as low as C$114.79, with a significant drop in trading volume.
• Recent analyst reports reflected mixed sentiments: Scotiabank upgraded their price target to C$140.00, while CIBC reduced theirs to C$130.00, yet the consensus rating remains a Buy.
• The company has a market capitalization of C$5.78 billion and demonstrates a healthy current ratio of 17.51 alongside a P/E ratio of 9.17.

Onex Co. (TSE:ONEX - Get Free Report) shares dropped 1.2% on Monday . The company traded as low as C$114.79 and last traded at C$115.41. Approximately 51,679 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 158,025 shares. The stock had previously closed at C$116.86.

Wall Street Analysts Forecast Growth

ONEX has been the topic of a number of research reports. Scotiabank lifted their price target on shares of Onex from C$135.00 to C$140.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. CIBC cut their price target on shares of Onex from C$150.00 to C$130.00 and set an "outperform" rating on the stock in a research note on Monday, April 28th. Finally, TD Securities lifted their price target on shares of Onex from C$142.00 to C$148.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of C$139.33.

Onex Stock Performance

The stock's 50-day moving average price is C$112.32 and its 200 day moving average price is C$104.62. The company has a debt-to-equity ratio of 49.85, a current ratio of 17.51 and a quick ratio of 2.41. The firm has a market cap of C$5.78 billion, a P/E ratio of 9.17, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53.

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.

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