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

Key Points

• Keefe, Bruyette & Woods lowered Onity Group’s price target to $55 from $58 while maintaining an “outperform” rating, implying roughly 42% upside from the prior close.
• Analyst sentiment remains mixed but leans positive: MarketBeat reports an overall “Moderate Buy” rating and an average price target of $52.50, despite recent target cuts and a “strong sell” downgrade from Wall Street Zen.
• ONIT shares fell 1.4% to $38.68, while the company’s latest quarterly results missed earnings expectations, reporting a $1.53 loss per share versus the anticipated $0.95 profit; institutional investors own 70.16% of the stock.

Onity Group (NYSE:ONIT - Get Free Report) had its target price reduced by stock analysts at Keefe, Bruyette & Woods from $58.00 to $55.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Keefe, Bruyette & Woods' target price indicates a potential upside of 42.19% from the stock's previous close.

Several other brokerages have also recently commented on ONIT. BTIG Research reduced their target price on Onity Group from $60.00 to $50.00 and set a "buy" rating on the stock in a report on Tuesday, June 16th. Weiss Ratings restated a "hold (c)" rating on shares of Onity Group in a research report on Wednesday, August 5th. Wall Street Zen lowered shares of Onity Group from a "sell" rating to a "strong sell" rating in a research note on Saturday. Finally, Texas Capital upgraded shares of Onity Group to a "strong-buy" rating in a research report on Wednesday, June 10th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $52.50.

Onity Group Trading Down 1.4%

Shares of NYSE:ONIT traded down $0.54 during mid-day trading on Wednesday, reaching $38.68. 16,163 shares of the company's stock were exchanged, compared to its average volume of 71,932. The firm has a market capitalization of $323.13 million, a price-to-earnings ratio of 2.50 and a beta of 1.46. The business's fifty day moving average price is $38.19 and its 200-day moving average price is $40.12. The company has a debt-to-equity ratio of 19.46, a quick ratio of 46.07 and a current ratio of 46.07. Onity Group has a twelve month low of $33.00 and a twelve month high of $54.10.

Onity Group (NYSE:ONIT - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($1.53) earnings per share for the quarter, missing analysts' consensus estimates of $0.95 by ($2.48). Onity Group had a net margin of 12.34% and a return on equity of 8.35%. The company had revenue of $281.00 million during the quarter, compared to analyst estimates of $272.45 million.

Institutional Investors Weigh In On Onity Group

Large investors have recently bought and sold shares of the stock. Oaktree Capital Management LP acquired a new position in shares of Onity Group during the fourth quarter valued at about $17,896,000. Wellington Management Group LLP acquired a new stake in shares of Onity Group in the 3rd quarter valued at about $10,370,000. JPMorgan Chase & Co. grew its stake in shares of Onity Group by 585.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 128,210 shares of the company's stock valued at $4,894,000 after buying an additional 109,498 shares during the period. Franklin Resources Inc. bought a new stake in Onity Group in the 3rd quarter valued at about $2,742,000. Finally, Prescott Group Capital Management L.L.C. increased its position in Onity Group by 29.2% in the 4th quarter. Prescott Group Capital Management L.L.C. now owns 212,585 shares of the company's stock valued at $9,734,000 after buying an additional 47,992 shares in the last quarter. 70.16% of the stock is currently owned by institutional investors and hedge funds.

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.

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