Keefe, Bruyette & Woods Increases Onity Group (NYSE:ONIT) Price Target to $60.00

Onity Group (NYSE:ONIT) had its price objective hoisted by analysts at Keefe, Bruyette & Woods from $55.00 to $60.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 45.03% from the company’s current price.

Other analysts have also issued reports about the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Onity Group in a research report on Wednesday, October 8th. Zacks Research cut Onity Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 21st. Finally, Wall Street Zen lowered Onity Group from a “buy” rating to a “hold” rating in a research note on Saturday. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $51.67.

Onity Group Stock Up 1.8%

Shares of ONIT opened at $41.37 on Monday. The company has a quick ratio of 37.90, a current ratio of 37.90 and a debt-to-equity ratio of 23.99. The business has a fifty day moving average of $39.79 and a 200 day moving average of $38.81. The company has a market cap of $333.24 million, a PE ratio of 10.55 and a beta of 1.53. Onity Group has a 52-week low of $25.50 and a 52-week high of $45.83.

Onity Group (NYSE:ONIT) last announced its earnings results on Thursday, November 6th. The company reported $3.44 earnings per share for the quarter, beating the consensus estimate of $1.92 by $1.52. The business had revenue of $62.30 million for the quarter, compared to the consensus estimate of $257.77 million. Onity Group had a net margin of 3.74% and a return on equity of 18.99%. On average, sell-side analysts expect that Onity Group will post 10.51 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Cullen Frost Bankers Inc. lifted its position in shares of Onity Group by 169.9% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 988 shares of the company’s stock worth $38,000 after purchasing an additional 622 shares during the period. AlphaQuest LLC purchased a new position in Onity Group in the third quarter valued at about $77,000. State of Wyoming bought a new stake in shares of Onity Group in the 2nd quarter valued at about $119,000. BNP Paribas Financial Markets lifted its position in Onity Group by 367.2% during the second quarter. BNP Paribas Financial Markets now owns 3,163 shares of the company’s stock valued at $121,000 after acquiring an additional 2,486 shares during the last quarter. Finally, Corsair Capital Management L.P. acquired a new position in shares of Onity Group during the first quarter worth $162,000. Hedge funds and other institutional investors own 70.16% of the company’s stock.

About Onity Group

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.