ONEX (OTCMKTS:ONEXF) Shares Cross Below Two Hundred Day Moving Average – What’s Next?

ONEX Corporation (OTCMKTS:ONEXF)’s stock price crossed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $77.63 and traded as low as $77.3465. ONEX shares last traded at $77.58, with a volume of 1,708 shares changing hands.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Royal Bank Of Canada reiterated a “sector perform” rating on shares of ONEX in a research report on Friday, August 14th. Canadian Imperial Bank of Commerce upgraded shares of ONEX from a “hold” rating to an “outperform” rating in a research report on Thursday, October 22nd. Finally, BMO Capital Markets started coverage on shares of ONEX in a research note on Thursday, October 1st. They issued an “outperform” rating for the company. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, ONEX presently has a consensus rating of “Moderate Buy”.

ONEX Stock Performance

The company has a market capitalization of $5.92 billion, a price-to-earnings ratio of 11.61 and a beta of 1.25. The business’s 50-day simple moving average is $75.74 and its 200-day simple moving average is $77.63.

ONEX (OTCMKTS:ONEXF) last posted its quarterly earnings results on Thursday, August 13th. The company reported $1.71 earnings per share for the quarter. The business had revenue of $202.00 million during the quarter. ONEX had a net margin of 63.83% and a return on equity of 5.24%.

About ONEX

Onex Corporation is a Canadian alternative asset manager focused on private equity and credit. The company manages investment strategies for institutional investors and other clients, and invests its own capital alongside them. Through its private equity business, Onex acquires and builds companies, while its credit platform provides financing and invests across a range of credit markets. Its investment activities span North America and Europe, with portfolio companies operating in multiple industries.