Onity Group Inc. (NYSE:ONIT) Receives $58.33 Consensus Target Price from Brokerages

Shares of Onity Group Inc. (NYSE:ONIT) have been assigned an average recommendation of “Moderate Buy” from the five analysts that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $58.3333.

Several brokerages have recently weighed in on ONIT. Weiss Ratings upgraded shares of Onity Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday. Keefe, Bruyette & Woods raised shares of Onity Group from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, February 18th. BTIG Research increased their price target on shares of Onity Group from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. Finally, Wall Street Zen upgraded shares of Onity Group from a “hold” rating to a “buy” rating in a research note on Saturday, March 14th.

Onity Group Stock Performance

ONIT stock opened at $46.68 on Tuesday. The company has a debt-to-equity ratio of 18.86, a current ratio of 35.55 and a quick ratio of 35.55. Onity Group has a 1 year low of $31.07 and a 1 year high of $54.10. The company has a market cap of $398.65 million, a P/E ratio of 2.21 and a beta of 1.56. The stock’s fifty day moving average price is $41.36 and its 200-day moving average price is $42.61.

Onity Group (NYSE:ONIT) last posted its quarterly earnings data on Thursday, February 12th. The company reported $14.24 EPS for the quarter, beating analysts’ consensus estimates of $2.46 by $11.78. The company had revenue of $280.00 million during the quarter, compared to analysts’ expectations of $285.60 million. Onity Group had a return on equity of 15.84% and a net margin of 17.76%.

Institutional Trading of Onity Group

Hedge funds have recently bought and sold shares of the stock. CWM LLC lifted its position in shares of Onity Group by 60.3% during the 4th quarter. CWM LLC now owns 758 shares of the company’s stock valued at $35,000 after buying an additional 285 shares in the last quarter. AlphaQuest LLC bought a new stake in Onity Group during the 3rd quarter worth approximately $77,000. State of Wyoming bought a new stake in Onity Group during the 2nd quarter worth approximately $119,000. BNP Paribas Financial Markets lifted its holdings 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 purchasing an additional 2,486 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in Onity Group during the second quarter valued at approximately $184,000. Institutional investors own 70.16% of the company’s stock.

About Onity Group

Onity Group, listed on the New York Stock Exchange under the ticker ONIT, is a technology company specializing in enterprise operations management software. Its platform is designed to help legal, finance, human resources and corporate services teams automate and streamline mission-critical workflows. Leveraging artificial intelligence and no-code automation tools, Onity’s solutions aim to reduce manual processes, improve visibility and ensure compliance across complex organizational structures.

The company’s flagship offerings include contract lifecycle management, matter management, e-billing and spend management, as well as enterprise deal management.