ONEX (OTCMKTS:ONEXF) Shares Cross Above 50-Day Moving Average – Here’s Why

Shares of ONEX Corporation (OTCMKTS:ONEXF) crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $79.14 and traded as high as $80.25. ONEX shares last traded at $79.96, with a volume of 4,671 shares.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of ONEX in a research report on Friday, August 14th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of ONEX in a research report on Friday, August 14th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

ONEX Price Performance

The firm’s 50 day moving average price is $79.25 and its two-hundred day moving average price is $78.02. The stock has a market cap of $5.92 billion, a PE ratio of 11.62 and a beta of 1.20.

ONEX (OTCMKTS:ONEXF) last announced its quarterly earnings results on Thursday, August 13th. The company reported $1.71 EPS for the quarter. The company had revenue of $202.00 million for the quarter. ONEX had a net margin of 63.83% and a return on equity of 5.34%.

ONEX Company Profile

Onex Corporation is a Toronto‐based investment firm specializing in private equity and credit strategies across a range of industries. The company raises capital through independently managed funds and deploys it in buyouts, recapitalizations and growth investments targeting companies with strong management teams and potential for operational improvement. Onex also manages a public markets platform that invests in publicly traded companies, employing a value‐oriented approach to create long‐term shareholder value.

Through its private equity arm, Onex Partners, the firm pursues transactions in sectors such as aerospace and defense, healthcare, financial services, industrial manufacturing and packaging.