RBC Capital Believes ONEX Corporation (TSX: ONEX) Still Has Room to Grow

By Ryan Adsit

ONEX Corporation (TSX: ONEX), the Materials sector company was revisited yesterday, and remains undervalued for at least one analyst on the street. Analyst Geoffrey Kwan from RBC Capital remains bullish on the stock and has a C$110 price target.

Kwan has an average return of 6.9% when recommending ONEX Corporation.

According to TipRanks.com, Kwan is ranked #1249 out of 4572 analysts.

Currently, the analyst consensus on ONEX Corporation is Moderate Buy and the average price target is C$106.20, representing a 6.7% upside.

In a report issued on April 30, Canaccord Genuity also reiterated a Buy rating on the stock with a C$108 price target.

ONEX Corporation’s market cap is currently C$10.23B and has a P/E ratio of 0.

ONEX Corp. is a private equity company which invests in several industries. It operates through the following segments: Electronics Manufacturing Services; Healthcare Imaging; Health and Human Services; Building Products; and Insurance Services. The Electronics Manufacturing Services segment consists of the business of Celestica Inc. and its subsidiaries. The Celestica is a global provider of electronics manufacturing services. The Healthcare Imaging segment consist of Carestream Health is a global provider of medical and dental imaging and healthcare information technology solutions. The Health and Human Services segment consists of ResCare is a leading U.S. provider of residential, training, educational and support services for people with disabilities and special needs. The Insurance Services segment consists of USI is a leading U.S. provider of insurance brokerage services. The company was founded by Gerald W. Schwartz on December 30, 1980 and is headquartered in Toronto, Canada.

The company’s shares closed last Monday at $99.57, close to its 52-week high of $102.77.