Rocket Companies (NYSE:RKT) Given New $10.50 Price Target at Keefe, Bruyette & Woods

Rocket Companies (NYSE:RKT) had its price objective cut by Keefe, Bruyette & Woods from $11.50 to $10.50 in a research report sent to investors on Friday morning,Benzinga reports. They currently have an underperform rating on the stock.

A number of other equities analysts have also issued reports on the company. JPMorgan Chase & Co. cut their target price on Rocket Companies from $19.00 to $14.00 and set an “underweight” rating on the stock in a research report on Monday, December 9th. Barclays dropped their price target on shares of Rocket Companies from $14.00 to $13.00 and set an “underweight” rating for the company in a research note on Wednesday, November 13th. Morgan Stanley reduced their price objective on shares of Rocket Companies from $16.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 19th. Wedbush reissued a “neutral” rating and issued a $13.00 target price (down previously from $18.00) on shares of Rocket Companies in a research report on Wednesday, November 13th. Finally, UBS Group reduced their price target on shares of Rocket Companies from $14.00 to $12.50 and set a “sell” rating on the stock in a research report on Thursday, November 14th. Six research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $13.83.

Rocket Companies Price Performance

RKT opened at $10.98 on Friday. Rocket Companies has a twelve month low of $10.78 and a twelve month high of $21.38. The firm has a market cap of $21.90 billion, a price-to-earnings ratio of -68.63 and a beta of 2.38. The company has a current ratio of 15.47, a quick ratio of 15.47 and a debt-to-equity ratio of 1.51. The company has a fifty day simple moving average of $13.64 and a 200 day simple moving average of $15.95.

Rocket Companies (NYSE:RKT) last announced its earnings results on Tuesday, November 12th. The company reported $0.08 earnings per share for the quarter, meeting the consensus estimate of $0.08. Rocket Companies had a positive return on equity of 2.86% and a negative net margin of 0.38%. The company had revenue of $647.00 million during the quarter, compared to the consensus estimate of $1.25 billion. During the same period last year, the firm earned ($0.01) earnings per share. The company’s revenue was down 46.2% on a year-over-year basis. Equities research analysts expect that Rocket Companies will post 0.16 EPS for the current fiscal year.

Institutional Trading of Rocket Companies

Hedge funds have recently made changes to their positions in the stock. Tidal Investments LLC increased its holdings in shares of Rocket Companies by 804.3% in the 3rd quarter. Tidal Investments LLC now owns 315,764 shares of the company’s stock worth $6,060,000 after acquiring an additional 280,847 shares during the period. Virtu Financial LLC increased its stake in shares of Rocket Companies by 22.1% in the third quarter. Virtu Financial LLC now owns 16,135 shares of the company’s stock valued at $310,000 after purchasing an additional 2,925 shares during the period. Geode Capital Management LLC raised its holdings in shares of Rocket Companies by 0.6% during the third quarter. Geode Capital Management LLC now owns 2,043,975 shares of the company’s stock valued at $39,235,000 after buying an additional 12,735 shares during the last quarter. Barclays PLC raised its holdings in shares of Rocket Companies by 136.2% during the third quarter. Barclays PLC now owns 238,323 shares of the company’s stock valued at $4,573,000 after buying an additional 137,441 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of Rocket Companies during the third quarter worth approximately $1,486,000. Institutional investors own 4.59% of the company’s stock.

About Rocket Companies

Rocket Companies, Inc, a fintech holding company, provides mortgage lending, title and settlement services, and other financial technology services in the United States and Canada. It operates through two segments, Direct to Consumer and Partner Network. The company’s solutions include Rocket Mortgage, a mortgage lender; Amrock that provides title insurance, property valuation, and settlement services; Rocket Homes, a home search platform and real estate agent referral network, which offers technology-enabled services to support the home buying and selling experience; and Rocket Loans, an online-based personal loans business.