Keefe, Bruyette & Woods Raises Rocket Companies (NYSE:RKT) Price Target to $12.00

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

Several other equities analysts also recently weighed in on the company. Morgan Stanley reduced their price target on Rocket Companies from $16.00 to $13.00 and set an “equal weight” rating for the company in a report on Thursday, December 19th. Barclays dropped their price objective on Rocket Companies from $14.00 to $13.00 and set an “underweight” rating on the stock in a research report on Wednesday, November 13th. Wedbush reaffirmed a “neutral” rating and set a $13.00 price objective (down from $18.00) on shares of Rocket Companies in a research report on Wednesday, November 13th. The Goldman Sachs Group dropped their price objective on Rocket Companies from $16.00 to $14.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Finally, Piper Sandler dropped their price objective on Rocket Companies from $17.00 to $16.00 and set a “neutral” rating on the stock in a research report on Thursday, November 14th. Four research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat.com, Rocket Companies has an average rating of “Hold” and a consensus target price of $13.83.

Rocket Companies Price Performance

Shares of NYSE:RKT opened at $14.95 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 business has a fifty day moving average price of $12.24 and a 200-day moving average price of $15.05. The company has a market capitalization of $29.81 billion, a PE ratio of -93.41 and a beta of 2.43.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Cetera Investment Advisers lifted its position in shares of Rocket Companies by 2.9% during the 4th quarter. Cetera Investment Advisers now owns 33,035 shares of the company’s stock valued at $372,000 after buying an additional 936 shares in the last quarter. Vident Advisory LLC lifted its position in shares of Rocket Companies by 3.6% during the 4th quarter. Vident Advisory LLC now owns 30,798 shares of the company’s stock valued at $347,000 after buying an additional 1,078 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Rocket Companies during the 3rd quarter valued at about $39,000. KBC Group NV lifted its position in shares of Rocket Companies by 58.1% during the 4th quarter. KBC Group NV now owns 6,056 shares of the company’s stock valued at $68,000 after buying an additional 2,226 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Rocket Companies by 9.6% during the 4th quarter. The Manufacturers Life Insurance Company now owns 27,825 shares of the company’s stock valued at $313,000 after buying an additional 2,437 shares in the last quarter. 4.59% of the stock is owned by hedge funds and other institutional investors.

Rocket Companies Company Profile

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.