Brokerages Set Onity Group Inc. (NYSE:ONIT) Price Target at $58.33

Shares of Onity Group Inc. (NYSE:ONIT) have been assigned a consensus recommendation of “Moderate Buy” from the five analysts that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $58.3333.

ONIT has been the subject of a number of research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Onity Group in a research report on Thursday, January 22nd. Wall Street Zen upgraded shares of Onity Group from a “hold” rating to a “buy” rating in a research report on Saturday, March 14th. BTIG Research boosted their target price on shares of Onity Group from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Finally, Keefe, Bruyette & Woods upgraded shares of Onity Group from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, February 18th.

Institutional Investors Weigh In On Onity Group

Several large investors have recently bought and sold shares of ONIT. CWM LLC lifted its position in shares of 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. AlphaQuest LLC purchased a new stake in shares of Onity Group during the third quarter worth approximately $77,000. State of Wyoming purchased a new stake in shares of Onity Group during the second quarter worth approximately $119,000. BNP Paribas Financial Markets raised its stake in Onity Group by 367.2% in the 2nd 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 during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in Onity Group in the 2nd quarter valued at $184,000. 70.16% of the stock is currently owned by hedge funds and other institutional investors.

Onity Group Stock Up 0.1%

Onity Group stock opened at $37.60 on Friday. The company has a debt-to-equity ratio of 18.86, a current ratio of 35.55 and a quick ratio of 35.55. The stock has a market capitalization of $320.39 million, a PE ratio of 1.78 and a beta of 1.56. The business has a 50 day simple moving average of $42.81 and a 200-day simple moving average of $42.50. Onity Group has a 12 month low of $25.50 and a 12 month high of $54.10.

Onity Group (NYSE:ONIT) last announced its earnings results on Thursday, February 12th. The company reported $14.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.46 by $11.78. The firm had revenue of $280.00 million for the quarter, compared to analyst estimates of $285.60 million. Onity Group had a return on equity of 15.84% and a net margin of 17.76%. On average, analysts anticipate that Onity Group will post 10.51 EPS for the current fiscal year.

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.