Brokerages Set Onity Group Inc. (NYSE:ONIT) PT at $57.67

Onity Group Inc. (NYSE:ONIT) has received a consensus rating of “Moderate Buy” from the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $57.6667.

ONIT has been the topic of several recent analyst reports. Weiss Ratings cut Onity Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 8th. Wall Street Zen downgraded Onity Group from a “hold” rating to a “sell” rating in a report on Sunday, May 10th. Keefe, Bruyette & Woods lowered their target price on Onity Group from $60.00 to $58.00 and set an “outperform” rating on the stock in a report on Friday, May 8th. Finally, Texas Capital raised Onity Group to a “strong-buy” rating in a report on Wednesday, June 10th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Prescott Group Capital Management L.L.C. raised its stake in shares of Onity Group by 29.2% in the fourth quarter. Prescott Group Capital Management L.L.C. now owns 212,585 shares of the company’s stock worth $9,734,000 after buying an additional 47,992 shares during the period. CWM LLC raised its stake in shares of Onity Group by 60.3% in the fourth quarter. CWM LLC now owns 758 shares of the company’s stock worth $35,000 after buying an additional 285 shares during the period. AlphaQuest LLC bought a new position in shares of Onity Group in the third quarter worth about $77,000. BNP Paribas Financial Markets raised its stake in shares of Onity Group by 367.2% in the second quarter. BNP Paribas Financial Markets now owns 3,163 shares of the company’s stock worth $121,000 after buying an additional 2,486 shares during the period. Finally, State of Wyoming bought a new position in shares of Onity Group in the second quarter worth about $119,000. Institutional investors own 70.16% of the company’s stock.

Onity Group Trading Up 0.2%

Onity Group stock opened at $36.71 on Wednesday. The company has a debt-to-equity ratio of 19.46, a current ratio of 46.07 and a quick ratio of 46.07. Onity Group has a one year low of $33.22 and a one year high of $54.10. The stock has a market capitalization of $309.47 million, a PE ratio of 1.89 and a beta of 1.46. The business’s fifty day moving average is $39.55 and its 200 day moving average is $42.36.

Onity Group (NYSE:ONIT) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.74 EPS for the quarter, missing the consensus estimate of $2.37 by ($1.63). Onity Group had a net margin of 15.75% and a return on equity of 9.10%. The business had revenue of $278.00 million for the quarter, compared to analysts’ expectations of $290.10 million.

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.