Onity Group (NYSE:ONIT) Given New $55.00 Price Target at B. Riley

Onity Group (NYSE:ONIT) had its price target lifted by B. Riley from $50.00 to $55.00 in a research note released on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also recently weighed in on ONIT. Keefe, Bruyette & Woods boosted their price objective on Onity Group from $45.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 7th. BTIG Research reissued a “buy” rating on shares of Onity Group in a research report on Monday, May 5th.

Onity Group Price Performance

NYSE ONIT opened at $37.61 on Friday. Onity Group has a twelve month low of $22.40 and a twelve month high of $41.27. The company has a debt-to-equity ratio of 25.88, a quick ratio of 33.57 and a current ratio of 33.57. The stock has a market capitalization of $301.22 million, a PE ratio of 13.19 and a beta of 1.66. The stock has a 50-day simple moving average of $36.12 and a 200 day simple moving average of $33.69.

Onity Group (NYSE:ONIT) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $1.79 by $1.05. Onity Group had a return on equity of 22.67% and a net margin of 2.62%. The business had revenue of $249.80 million during the quarter, compared to analysts’ expectations of $244.63 million. Research analysts anticipate that Onity Group will post 10.51 EPS for the current year.

Hedge Funds Weigh In On Onity Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC bought a new position in Onity Group during the fourth quarter valued at about $431,000. Two Sigma Investments LP bought a new position in Onity Group during the fourth quarter valued at about $662,000. Bank of America Corp DE bought a new position in Onity Group during the fourth quarter valued at about $294,000. Raymond James Financial Inc. bought a new position in Onity Group during the fourth quarter valued at about $886,000. Finally, Northern Trust Corp bought a new position in Onity Group during the fourth quarter valued at about $1,577,000. 70.16% of the stock is currently owned by institutional investors.

Onity Group Company Profile

Onity Group Inc, a financial services company, originates and services mortgage loans in the United States, the United States Virgin Islands, India, and the Philippines. It operates through, Servicing and Originations segments. The company provides commercial forward mortgage loan servicing, reverse mortgage servicing, special servicing, and asset management services for to owners of mortgage loans and foreclosed real estate, as well as residential mortgage loan servicing, such as forward and reverse conventional, government-insured, and non-agency loans, including the reverse mortgage loans classified as loans.