Onity Group (NYSE:ONIT) Given New $55.00 Price Target at Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods raised its price target for Onity Group (NYSE:ONIT) from $50.00 to $55.00, indicating a potential upside of 41.06% from the current price.
• The stock has seen a 3.9% increase, with a current trading price of $38.99 and a market capitalization of $312.31 million.
• Institutional investors currently own 70.16% of Onity Group's shares, reflecting significant interest from large investment firms.

Onity Group (NYSE:ONIT - Free Report) had its price objective upped by Keefe, Bruyette & Woods from $50.00 to $55.00 in a research note published on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

Several other research firms also recently weighed in on ONIT. B. Riley increased their price target on shares of Onity Group from $50.00 to $55.00 and gave the stock a "buy" rating in a research report on Friday, June 20th. Wall Street Zen downgraded shares of Onity Group from a "buy" rating to a "hold" rating in a research report on Friday, July 18th. Finally, BTIG Research reaffirmed a "buy" rating on shares of Onity Group in a report on Monday, May 5th.

Onity Group Stock Down 0.9%

Shares of ONIT traded down $0.36 during mid-day trading on Wednesday, reaching $38.33. The company had a trading volume of 44,485 shares, compared to its average volume of 49,110. The company has a debt-to-equity ratio of 23.99, a quick ratio of 33.57 and a current ratio of 37.90. The firm has a 50-day moving average price of $37.79 and a 200 day moving average price of $35.18. Onity Group has a 52 week low of $25.50 and a 52 week high of $41.92. The company has a market capitalization of $308.94 million, a price-to-earnings ratio of 9.78 and a beta of 1.41.

Onity Group (NYSE:ONIT - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $1.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.08 by ($0.21). The business had revenue of $246.60 million during the quarter, compared to the consensus estimate of $252.90 million. Onity Group had a net margin of 3.74% and a return on equity of 18.99%. On average, sell-side analysts forecast that Onity Group will post 10.51 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Millennium Management LLC purchased a new stake in shares of Onity Group in the 4th quarter worth $431,000. Bank of America Corp DE purchased a new stake in Onity Group in the fourth quarter worth about $294,000. Two Sigma Investments LP purchased a new stake in Onity Group in the fourth quarter worth about $662,000. Northern Trust Corp purchased a new stake in Onity Group in the fourth quarter worth about $1,577,000. Finally, Ameriprise Financial Inc. purchased a new stake in Onity Group in the fourth quarter worth about $209,000. Institutional investors own 70.16% of the company's stock.

About Onity Group

Onity Group Inc, a financial services company, originates and services mortgage loans in the United States, the United States Virgin Islands, India, and the Philippines. It operates through, Servicing and Originations segments. The company provides commercial forward mortgage loan servicing, reverse mortgage servicing, special servicing, and asset management services for to owners of mortgage loans and foreclosed real estate, as well as residential mortgage loan servicing, such as forward and reverse conventional, government-insured, and non-agency loans, including the reverse mortgage loans classified as loans.