Onity Group (NYSE:ONIT) Price Target Raised to $60.00

Onity Group (NYSE:ONIT) had its target price raised by Keefe, Bruyette & Woods from $55.00 to $60.00 in a report published on Monday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the stock.

ONIT has been the subject of a number of other research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Onity Group in a research report on Wednesday, October 8th. Zacks Research lowered Onity Group from a “hold” rating to a “strong sell” rating in a report on Thursday, August 21st. Finally, Wall Street Zen downgraded Onity Group from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $51.67.

Onity Group Stock Up 1.8%

NYSE:ONIT opened at $42.11 on Monday. The firm has a market cap of $339.32 million, a P/E ratio of 10.74 and a beta of 1.53. The company has a debt-to-equity ratio of 23.99, a quick ratio of 37.90 and a current ratio of 37.90. Onity Group has a fifty-two week low of $25.50 and a fifty-two week high of $45.83. The firm has a 50-day simple moving average of $39.79 and a two-hundred day simple moving average of $38.83.

Onity Group (NYSE:ONIT) last posted its quarterly earnings results on Thursday, November 6th. The company reported $3.44 EPS for the quarter, beating analysts’ consensus estimates of $1.92 by $1.52. The firm had revenue of $62.30 million for the quarter, compared to analysts’ expectations of $257.77 million. Onity Group had a net margin of 3.74% and a return on equity of 18.99%. Analysts predict that Onity Group will post 10.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Onity Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. lifted its holdings in Onity Group by 169.9% during the second quarter. Cullen Frost Bankers Inc. now owns 988 shares of the company’s stock valued at $38,000 after purchasing an additional 622 shares in the last quarter. AlphaQuest LLC purchased a new position in shares of Onity Group during the 3rd quarter valued at $77,000. State of Wyoming purchased a new position in shares of Onity Group during the 2nd quarter valued at $119,000. BNP Paribas Financial Markets increased its stake in Onity Group by 367.2% in 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 in the last quarter. Finally, Corsair Capital Management L.P. bought a new stake in Onity Group during the first quarter valued at about $162,000. 70.16% of the stock is owned by hedge funds and other institutional investors.

Onity Group Company Profile

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.