Onity Group (NYSE:ONIT) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Onity Group (NYSE:ONIT) from a hold rating to a buy rating in a research note published on Saturday.

Other equities analysts have also recently issued reports about the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Onity Group in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Onity Group in a research report on Thursday, December 18th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Onity Group has a consensus rating of “Hold” and an average target price of $57.50.

Onity Group Price Performance

NYSE ONIT opened at $52.96 on Friday. The company has a debt-to-equity ratio of 22.41, a quick ratio of 38.90 and a current ratio of 38.90. The company has a market capitalization of $426.76 million, a price-to-earnings ratio of 16.05 and a beta of 1.59. The stock has a 50-day moving average of $44.88 and a 200 day moving average of $41.33. Onity Group has a one year low of $25.50 and a one year high of $54.10.

Onity Group (NYSE:ONIT) last posted its quarterly earnings data on Thursday, November 6th. The company reported $3.44 EPS for the quarter, beating analysts’ consensus estimates of $1.92 by $1.52. The company had revenue of $265.00 million during the quarter, compared to analysts’ expectations of $257.77 million. Onity Group had a return on equity of 17.81% and a net margin of 3.41%. On average, sell-side analysts forecast that Onity Group will post 10.51 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Cullen Frost Bankers Inc. boosted its stake in shares of Onity Group by 169.9% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 988 shares of the company’s stock worth $38,000 after acquiring an additional 622 shares in the last quarter. AlphaQuest LLC acquired a new position in Onity Group in the 3rd quarter valued at $77,000. State of Wyoming purchased a new position in Onity Group in the 2nd quarter valued at $119,000. BNP Paribas Financial Markets boosted its stake 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 purchasing an additional 2,486 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in shares of Onity Group during the second quarter worth $184,000. Hedge funds and other institutional investors 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.