Rocket Companies (NYSE:RKT) Given New $16.00 Price Target at Keefe, Bruyette & Woods

Rocket Companies (NYSE:RKT) had its price objective lowered by investment analysts at Keefe, Bruyette & Woods from $20.00 to $16.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 13.23% from the stock’s previous close.

Several other research firms also recently weighed in on RKT. Wells Fargo & Company increased their target price on Rocket Companies from $13.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Morgan Stanley assumed coverage on shares of Rocket Companies in a research note on Tuesday, November 5th. They set an “equal weight” rating and a $18.00 price objective for the company. Bank of America raised their target price on shares of Rocket Companies from $12.00 to $14.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. upped their price target on shares of Rocket Companies from $15.00 to $19.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Finally, UBS Group upped their price objective on Rocket Companies from $11.50 to $14.00 and gave the stock a “sell” rating in a report on Monday, September 16th. Five investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $15.17.

Rocket Companies Trading Down 9.1 %

Shares of RKT opened at $14.13 on Thursday. Rocket Companies has a fifty-two week low of $8.39 and a fifty-two week high of $21.38. The company has a market capitalization of $28.11 billion, a PE ratio of -88.31 and a beta of 2.46. The stock has a fifty day moving average of $17.78 and a two-hundred day moving average of $16.27. The company has a debt-to-equity ratio of 1.27, a quick ratio of 13.18 and a current ratio of 13.18.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RKT. Swiss National Bank boosted its stake in shares of Rocket Companies by 4.1% in the first quarter. Swiss National Bank now owns 237,000 shares of the company’s stock valued at $3,448,000 after purchasing an additional 9,300 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in Rocket Companies in the 1st quarter worth $2,698,000. Raymond James & Associates boosted its position in Rocket Companies by 48.7% in the 3rd quarter. Raymond James & Associates now owns 300,612 shares of the company’s stock valued at $5,769,000 after buying an additional 98,397 shares during the last quarter. Philip James Wealth Mangement LLC acquired a new stake in shares of Rocket Companies during the third quarter valued at about $6,811,000. Finally, Boston Partners increased its position in shares of Rocket Companies by 4.2% during the first quarter. Boston Partners now owns 9,382,173 shares of the company’s stock worth $136,462,000 after acquiring an additional 381,841 shares during 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.