The stock of ONEX Corporation (TSE:OCX) hit a new 52-week high and has $117.26 target or 32.00% above today’s $88.83 share price. The 7 months bullish chart indicates low risk for the $9.20 billion company. The 1-year high was reported on Oct, 31 by Barchart.com. If the $117.26 price target is reached, the company will be worth $2.94B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 32,563 shares traded hands. ONEX Corporation (TSE:OCX) has risen 12.02% since March 24, 2016 and is uptrending. It has outperformed by 8.54% the S&P500.
ONEX Corporation (TSE:OCX) Ratings Coverage
Out of 4 analysts covering Onex Corporation (TSE:OCX), 2 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 50% are positive. $95 is the highest target while $80 is the lowest. The $86.30 average target is -2.85% below today’s ($88.83) stock price. Onex Corporation has been the topic of 17 analyst reports since July 28, 2015 according to StockzIntelligence Inc. The stock of ONEX Corporation (TSE:OCX) earned “Outperform” rating by RBC Capital Markets on Tuesday, July 28. RBC Capital Markets maintained ONEX Corporation (TSE:OCX) rating on Friday, August 14. RBC Capital Markets has “Outperform” rating and $87 price target. On Wednesday, June 15 the stock rating was maintained by RBC Capital Markets with “Outperform”. The firm has “Buy” rating given on Friday, August 14 by Canaccord Genuity. As per Friday, August 14, the company rating was maintained by Scotia Capital. The firm has “Market Perform” rating by BMO Capital Markets given on Monday, August 29. Scotia Capital maintained the stock with “Sector Perform” rating in Tuesday, June 28 report. The rating was maintained by Scotia Capital with “Sector Perform” on Wednesday, June 15.
More notable recent ONEX Corporation (TSE:OCX) news were published by: Business.Financialpost.com which released: “Onex Corp reverses its normal exit strategy, plans to use IPO to sell stake in …” on June 06, 2016, also Fool.ca with their article: “ONEX Corporation Gets Analytical” published on October 06, 2016, Theglobeandmail.com published: “Onex buying US discount grocer Save-A-Lot for $1.37-billion” on October 17, 2016. More interesting news about ONEX Corporation (TSE:OCX) were released by: Business.Financialpost.com and their article: “Onex Corp hungry for restaurant, retail deals to lighten $2.2 billion war chest” published on September 08, 2016 as well as Business.Financialpost.com‘s news article titled: “Onex Corp sells KraussMaffei to China National Chemical Corp for about $1 billion” with publication date: January 11, 2016.
Onex Corporation is a private equity firm. The company has a market cap of $9.20 billion. The Firm operates in eight divisions: Electronics Manufacturing Services, Healthcare Imaging, Health and Human Services, Building Products, Insurance Services, Packaging Products and Services, Credit Strategies, and Other Businesses. It currently has negative earnings. The Company’s Other businesses include aerospace automation, tooling and components, aircraft leasing and management, business services/tradeshows, restaurants, hospital management services, survival equipment and plastics processing equipment.
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