Onex (TSE:ONEX) Shares Cross Below 50 Day Moving Average – Here’s Why

Onex Co. (TSE:ONEX) shares 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 traded.

Analyst Upgrades and Downgrades

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

Onex Stock Performance

The company has a market cap of C$8.55 billion, a PE ratio of 8.00, a PEG ratio of 1.47 and a beta of 1.53. The company has a current ratio of 3.62, a quick ratio of 2.41 and a debt-to-equity ratio of 0.54. The business’s 50 day moving average is C$113.06 and its two-hundred day moving average is C$102.05.

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.