Keefe, Bruyette & Woods Has Lowered Expectations for Rocket Companies (NYSE:RKT) Stock Price

Rocket Companies (NYSE:RKT) had its target price decreased by Keefe, Bruyette & Woods from $20.00 to $16.00 in a research report released on Thursday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.

RKT has been the topic of a number of other reports. Piper Sandler cut 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. Bank of America boosted their price objective on shares of Rocket Companies from $12.00 to $14.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. Wedbush reaffirmed a “neutral” rating and issued a $13.00 target price (down from $18.00) on shares of Rocket Companies in a research report on Wednesday. UBS Group boosted their price target on shares of Rocket Companies from $11.50 to $14.00 and gave the company a “sell” rating in a research report on Monday, September 16th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Rocket Companies from $15.00 to $19.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Five analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $15.13.

Rocket Companies Stock Up 0.5 %

Shares of NYSE:RKT traded up $0.07 during midday trading on Thursday, hitting $13.73. 2,391,631 shares of the company’s stock were exchanged, compared to its average volume of 2,897,149. Rocket Companies has a 12 month low of $8.81 and a 12 month high of $21.38. The company has a market cap of $27.32 billion, a PE ratio of -85.34 and a beta of 2.46. The company has a debt-to-equity ratio of 1.51, a current ratio of 15.47 and a quick ratio of 13.18. The stock has a 50 day moving average price of $17.66 and a 200-day moving average price of $16.25.

Rocket Companies (NYSE:RKT) last posted its quarterly earnings data 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 negative net margin of 0.38% and a positive return on equity of 2.86%. The firm had revenue of $647.00 million for the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter last year, the company posted ($0.01) EPS. The business’s quarterly revenue was down 46.2% on a year-over-year basis. On average, sell-side analysts anticipate that Rocket Companies will post 0.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Rocket Companies

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Capital Performance Advisors LLP bought a new position in Rocket Companies during the 3rd quarter valued at about $39,000. Blue Trust Inc. purchased a new stake in shares of Rocket Companies in the second quarter worth approximately $61,000. Quarry LP lifted its stake in shares of Rocket Companies by 858.8% during the 2nd quarter. Quarry LP now owns 4,353 shares of the company’s stock worth $60,000 after acquiring an additional 3,899 shares during the last quarter. EntryPoint Capital LLC bought a new position in Rocket Companies in the 1st quarter valued at $77,000. Finally, V Square Quantitative Management LLC purchased a new position in Rocket Companies in the 3rd quarter worth about $120,000. Hedge funds and other 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.