Wall Street Zen Upgrades Onity Group (NYSE:ONIT) to "Sell"

Key Points

• Wall Street Zen upgraded Onity Group from "strong sell" to "sell", making it the latest mixed analyst call on the stock.
• Other firms have been more bullish recently, with Texas Capital upgrading ONIT to strong-buy and BTIG Research maintaining a buy rating, while consensus remains Moderate Buy with a $54.00 price target.
• Onity Group shares were up 1.6% and opened at $39.41, but the company recently reported earnings of $0.74 per share, well below the $2.37 consensus estimate.

Onity Group (NYSE:ONIT - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a report issued on Saturday.

Several other brokerages have also recently weighed in on ONIT. Texas Capital raised Onity Group to a "strong-buy" rating in a report on Wednesday, June 10th. Keefe, Bruyette & Woods dropped their price target on shares of Onity Group from $60.00 to $58.00 and set an "outperform" rating for the company in a research note on Friday, May 8th. Weiss Ratings lowered shares of Onity Group from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, May 8th. Finally, BTIG Research lowered their target price on shares of Onity Group from $60.00 to $50.00 and set a "buy" rating for the company in a report on Tuesday, June 16th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Onity Group presently has an average rating of "Moderate Buy" and a consensus price target of $54.00.

Onity Group Stock Up 1.6%

Shares of ONIT opened at $39.41 on Friday. The firm has a market capitalization of $332.35 million, a price-to-earnings ratio of 2.03 and a beta of 1.43. The company has a debt-to-equity ratio of 19.46, a quick ratio of 46.07 and a current ratio of 46.07. The business's fifty day moving average price is $37.33 and its two-hundred day moving average price is $41.13. Onity Group has a 52 week low of $33.22 and a 52 week high of $54.10.

Onity Group (NYSE:ONIT - Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported $0.74 earnings per share for the quarter, missing analysts' consensus estimates of $2.37 by ($1.63). Onity Group had a return on equity of 9.10% and a net margin of 15.75%.The firm had revenue of $278.00 million for the quarter, compared to the consensus estimate of $290.10 million.

Institutional Investors Weigh In On Onity Group

Hedge funds have recently modified their holdings of the business. CWM LLC lifted its holdings in shares of Onity Group by 60.3% during the 4th quarter. CWM LLC now owns 758 shares of the company's stock valued at $35,000 after purchasing an additional 285 shares in the last quarter. State of Wyoming bought a new stake in Onity Group during the 2nd quarter worth approximately $119,000. BNP Paribas Financial Markets raised its holdings in Onity Group by 367.2% during the 2nd 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. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in Onity Group during the 2nd quarter worth approximately $184,000. Finally, Bank of America Corp DE lifted its stake in Onity Group by 23.2% in the third quarter. Bank of America Corp DE now owns 5,027 shares of the company's stock valued at $201,000 after buying an additional 945 shares in the last quarter. Institutional investors and hedge funds own 70.16% of the company's stock.

Onity Group Company Profile

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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