Onity Group (NYSE:ONIT) Upgraded by Texas Capital to “Strong-Buy” Rating

Texas Capital upgraded shares of Onity Group (NYSE:ONIT) to a strong-buy rating in a research report report published on Wednesday morning,Zacks.com reports.

A number of other analysts also recently weighed in on the stock. Weiss Ratings downgraded shares of Onity Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 8th. BTIG Research boosted their target price on shares of Onity Group from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. Keefe, Bruyette & Woods cut their price target on shares of Onity Group from $60.00 to $58.00 and set an “outperform” rating on the stock in a report on Friday, May 8th. Finally, Wall Street Zen downgraded shares of Onity Group from a “hold” rating to a “sell” rating in a research note on Sunday, May 10th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $57.67.

Onity Group Stock Performance

Onity Group stock opened at $37.04 on Wednesday. The company’s 50-day moving average price is $39.60 and its 200-day moving average price is $42.41. Onity Group has a twelve month low of $33.22 and a twelve month high of $54.10. The company has a quick ratio of 46.07, a current ratio of 46.07 and a debt-to-equity ratio of 19.46. The company has a market cap of $312.21 million, a PE ratio of 1.91 and a beta of 1.45.

Onity Group (NYSE:ONIT) last posted 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 business had revenue of $278.00 million during the quarter, compared to the consensus estimate of $290.10 million.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. CWM LLC boosted its position in shares of Onity Group by 60.3% during the fourth quarter. CWM LLC now owns 758 shares of the company’s stock valued at $35,000 after buying an additional 285 shares during the period. State Street Corp boosted its position in Onity Group by 0.3% in the 4th quarter. State Street Corp now owns 128,906 shares of the company’s stock valued at $5,903,000 after buying an additional 362 shares during the period. Quantinno Capital Management LP boosted its position in Onity Group by 3.3% in the 1st quarter. Quantinno Capital Management LP now owns 15,254 shares of the company’s stock valued at $599,000 after buying an additional 491 shares during the period. First Trust Advisors LP boosted its position in Onity Group by 2.5% in the 4th quarter. First Trust Advisors LP now owns 20,128 shares of the company’s stock valued at $922,000 after buying an additional 498 shares during the period. Finally, Geode Capital Management LLC boosted its position in Onity Group by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 150,832 shares of the company’s stock valued at $6,908,000 after buying an additional 837 shares during the period. 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.