Keefe, Bruyette & Woods Boosts Onity Group (NYSE:ONIT) Price Target to $50.00

Onity Group (NYSE:ONIT) had its target price upped by Keefe, Bruyette & Woods from $45.00 to $50.00 in a research note released on Wednesday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the stock.

Several other research analysts have also issued reports on ONIT. B. Riley upgraded shares of Onity Group to a “strong-buy” rating in a report on Tuesday, January 7th. BTIG Research reissued a “buy” rating on shares of Onity Group in a research note on Monday.

Onity Group Stock Performance

Shares of Onity Group stock opened at $37.80 on Wednesday. The stock has a market cap of $302.74 million, a price-to-earnings ratio of 9.24 and a beta of 1.89. The company has a quick ratio of 26.46, a current ratio of 26.46 and a debt-to-equity ratio of 20.28. Onity Group has a twelve month low of $22.40 and a twelve month high of $41.27. The company’s fifty day moving average is $31.82 and its 200 day moving average is $32.20.

Onity Group (NYSE:ONIT) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $1.79 by $1.05. The company had revenue of $249.80 million during the quarter, compared to analysts’ expectations of $244.63 million. Onity Group had a return on equity of 20.50% and a net margin of 3.47%. Sell-side analysts forecast that Onity Group will post 10.51 EPS for the current year.

Institutional Investors Weigh In On Onity Group

Several large investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio acquired a new position in Onity Group in the fourth quarter valued at approximately $84,000. Corebridge Financial Inc. acquired a new position in shares of Onity Group during the 4th quarter valued at $98,000. New York State Common Retirement Fund acquired a new position in shares of Onity Group during the 4th quarter valued at $100,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Onity Group during the fourth quarter worth $115,000. Finally, Wells Fargo & Company MN acquired a new stake in Onity Group in the fourth quarter worth $116,000. Institutional investors and hedge funds 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.