Keefe, Bruyette & Woods Issues Positive Forecast for Rocket Companies (NYSE:RKT) Stock Price

Rocket Companies (NYSE:RKT) had its price objective boosted by Keefe, Bruyette & Woods from $10.50 to $12.00 in a report issued on Monday,Benzinga reports. Keefe, Bruyette & Woods currently has an underperform rating on the stock.

RKT has been the subject of a number of other research reports. JPMorgan Chase & Co. cut their target price on shares of Rocket Companies from $14.00 to $10.50 and set an “underweight” rating for the company in a research report on Tuesday, January 14th. UBS Group upgraded shares of Rocket Companies from a “sell” rating to a “neutral” rating and decreased their price objective for the stock from $12.50 to $11.50 in a research report on Friday, January 10th. Bank of America lifted their price target on Rocket Companies from $14.00 to $15.00 and gave the stock an “underperform” rating in a research note on Thursday, November 14th. Morgan Stanley dropped their target price on Rocket Companies from $16.00 to $13.00 and set an “equal weight” rating for the company in a research report on Thursday, December 19th. Finally, Royal Bank of Canada reduced their target price on shares of Rocket Companies from $20.00 to $18.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 13th. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $13.83.

Rocket Companies Price Performance

RKT opened at $14.08 on Monday. Rocket Companies has a 1 year low of $10.06 and a 1 year high of $21.38. The company has a debt-to-equity ratio of 1.51, a current ratio of 15.47 and a quick ratio of 15.47. The firm’s fifty day moving average price is $12.12 and its two-hundred day moving average price is $15.09. The company has a market capitalization of $28.09 billion, a price-to-earnings ratio of -88.00 and a beta of 2.43.

Institutional Investors Weigh In On Rocket Companies

Institutional investors and hedge funds have recently modified their holdings of the stock. Capital Performance Advisors LLP purchased a new stake in Rocket Companies in the third quarter worth about $39,000. Itau Unibanco Holding S.A. bought a new stake in shares of Rocket Companies during the fourth quarter valued at approximately $47,000. KBC Group NV grew its stake in Rocket Companies by 58.1% in the fourth quarter. KBC Group NV now owns 6,056 shares of the company’s stock worth $68,000 after purchasing an additional 2,226 shares during the period. Sterling Capital Management LLC raised its holdings in Rocket Companies by 57.2% in the fourth quarter. Sterling Capital Management LLC now owns 8,295 shares of the company’s stock worth $93,000 after purchasing an additional 3,019 shares in the last quarter. Finally, Caisse Des Depots ET Consignations purchased a new position in Rocket Companies during the fourth quarter valued at $99,000. 4.59% of the stock is owned by hedge funds and other institutional investors.

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.