Brokerages Set Onity Group Inc. (NYSE:ONIT) Price Target at $57.50

Shares of Onity Group Inc. (NYSE:ONIT) have received a consensus rating of “Hold” from the five analysts that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $57.50.

Several research firms have issued reports on ONIT. Weiss Ratings reiterated a “hold (c)” rating on shares of Onity Group in a research report on Thursday, January 22nd. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Onity Group in a research report on Thursday, December 18th. Finally, Wall Street Zen upgraded Onity Group from a “hold” rating to a “buy” rating in a research report on Saturday, January 17th.

Onity Group Stock Performance

NYSE:ONIT opened at $42.42 on Thursday. Onity Group has a twelve month low of $25.50 and a twelve month high of $54.10. The company has a market cap of $341.86 million, a P/E ratio of 12.85 and a beta of 1.56. The company has a current ratio of 38.90, a quick ratio of 38.90 and a debt-to-equity ratio of 22.41. The company’s 50-day moving average price is $46.37 and its 200-day moving average price is $42.39.

Onity Group (NYSE:ONIT) last posted its quarterly earnings results on Thursday, November 6th. The company reported $3.44 EPS for the quarter, topping the consensus estimate of $1.92 by $1.52. Onity Group had a return on equity of 17.81% and a net margin of 3.41%.The business had revenue of $265.00 million for the quarter, compared to analyst estimates of $257.77 million. On average, sell-side analysts forecast that Onity Group will post 10.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. CWM LLC raised its holdings in Onity Group by 60.3% in the fourth quarter. CWM LLC now owns 758 shares of the company’s stock valued at $35,000 after acquiring an additional 285 shares in the last quarter. Cullen Frost Bankers Inc. increased 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 valued at $38,000 after purchasing an additional 622 shares during the last quarter. AlphaQuest LLC purchased a new stake in shares of Onity Group during the 3rd quarter worth $77,000. State of Wyoming purchased a new stake in shares of Onity Group during the 2nd quarter worth $119,000. Finally, BNP Paribas Financial Markets grew its stake in shares of Onity Group by 367.2% during the second quarter. BNP Paribas Financial Markets now owns 3,163 shares of the company’s stock worth $121,000 after purchasing an additional 2,486 shares in the last quarter. 70.16% of the stock is owned by institutional investors and hedge funds.

Onity Group Company Profile

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.