Onity Group (NYSE:ONIT) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Onity Group (NYSE:ONIT) had its price objective boosted by equities research analysts at Keefe, Bruyette & Woods from $50.00 to $55.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 41.67% from the company’s previous close.

A number of other equities analysts have also commented on ONIT. Wall Street Zen lowered Onity Group from a “buy” rating to a “hold” rating in a research note on Friday, July 18th. B. Riley raised their price target on Onity Group from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, June 20th. Finally, BTIG Research reaffirmed a “buy” rating on shares of Onity Group in a research note on Monday, May 5th.

Onity Group Price Performance

NYSE:ONIT opened at $38.82 on Wednesday. Onity Group has a 52 week low of $24.55 and a 52 week high of $41.92. The company has a debt-to-equity ratio of 23.99, a quick ratio of 33.57 and a current ratio of 37.90. The firm’s 50-day simple moving average is $37.77 and its 200 day simple moving average is $35.16. The firm has a market cap of $312.91 million, a price-to-earnings ratio of 9.90 and a beta of 1.41.

Onity Group (NYSE:ONIT) last announced its earnings results on Tuesday, August 5th. The company reported $1.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.21). Onity Group had a return on equity of 18.99% and a net margin of 3.74%. The business had revenue of $246.60 million for the quarter, compared to analyst estimates of $252.90 million. As a group, sell-side analysts predict that Onity Group will post 10.51 earnings per share for the current year.

Institutional Investors Weigh In On Onity Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cullen Frost Bankers Inc. lifted its stake in Onity Group by 169.9% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 988 shares of the company’s stock valued at $38,000 after purchasing an additional 622 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Onity Group during the fourth quarter worth $84,000. Corebridge Financial Inc. bought a new position in shares of Onity Group in the 4th quarter valued at $98,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Onity Group during the 4th quarter valued at $115,000. Finally, Wells Fargo & Company MN bought a new stake in Onity Group during the 4th quarter worth $116,000. 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.