Keefe, Bruyette & Woods Issues Pessimistic Forecast for Onity Group (NYSE:ONIT) Stock Price

Onity Group (NYSE:ONIT) had its price target dropped by investment analysts at Keefe, Bruyette & Woods from $60.00 to $58.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 48.95% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. 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 report on Thursday, February 12th. Weiss Ratings raised shares of Onity Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, April 22nd. Finally, Wall Street Zen downgraded shares of Onity Group from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. 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 currently has an average rating of “Hold” and an average price target of $57.67.

Onity Group Price Performance

ONIT stock opened at $38.94 on Friday. Onity Group has a one year low of $35.47 and a one year high of $54.10. The company’s fifty day moving average price is $41.35 and its 200-day moving average price is $43.07. The company has a debt-to-equity ratio of 19.46, a quick ratio of 35.55 and a current ratio of 46.07. The company has a market capitalization of $328.25 million, a PE ratio of 2.01 and a beta of 1.56.

Onity Group (NYSE:ONIT) last released its earnings results 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 return on equity of 9.10% and a net margin of 15.75%.The company had revenue of $278.00 million during the quarter, compared to analysts’ expectations of $290.10 million.

Institutional Investors Weigh In On Onity Group

Several large investors have recently bought and sold shares of ONIT. Oaktree Capital Management LP bought a new stake in Onity Group in the fourth quarter worth $17,896,000. Wellington Management Group LLP bought a new stake in Onity Group in the third quarter worth $10,370,000. JPMorgan Chase & Co. increased its position in Onity Group by 585.2% in the second quarter. JPMorgan Chase & Co. now owns 128,210 shares of the company’s stock worth $4,894,000 after purchasing an additional 109,498 shares during the last quarter. Franklin Resources Inc. bought a new stake in Onity Group in the third quarter worth $2,742,000. Finally, Prescott Group Capital Management L.L.C. increased its position in 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 purchasing an additional 47,992 shares during the last quarter. 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.