Onex (TSE:ONEX) Stock Passes Below 50-Day Moving Average – Should You Sell?

Onex Co. (TSE:ONEX) crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$113.06 and traded as low as C$110.85. Onex shares last traded at C$112.23, with a volume of 60,354 shares trading hands.

Wall Street Analyst Weigh In

Separately, TD Securities raised Onex from a “hold” rating to a “buy” rating and upped their price objective for the stock from C$111.00 to C$140.00 in a report on Monday, December 30th.

Onex Stock Performance

The business’s fifty day moving average price is C$113.06 and its two-hundred day moving average price is C$102.05. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.41 and a current ratio of 3.62. The stock has a market capitalization of C$8.55 billion, a P/E ratio of 8.00, a P/E/G ratio of 1.47 and a beta of 1.53.

About Onex

Onex Corporation is a private equity firm specializing in acquisitions and platform acquisitions. The firm makes investments in buyouts, upper-middle market, large-cap, mid-cap, and small-cap market and distressed companies. It also invests in recapitalization, growth capital, corporate carve-outs of subsidiaries and mission-critical supply divisions from multinational corporations, operational restructurings of undervalued businesses, and builds up.