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

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

RKT has been the subject of several other research reports. JPMorgan Chase & Co. increased 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. UBS Group boosted their price target on Rocket Companies from $11.50 to $14.00 and gave the company a “sell” rating in a research note on Monday, September 16th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Rocket Companies from $11.00 to $15.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. Bank of America increased their target price on shares of Rocket Companies from $12.00 to $14.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. 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 for the company in a research note on Wednesday. Five research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $15.13.

Rocket Companies Stock Performance

RKT traded up $0.07 on Thursday, hitting $13.73. 2,391,631 shares of the stock traded hands, compared to its average volume of 2,897,149. The business has a fifty day moving average price of $17.66 and a two-hundred day moving average price of $16.25. The company has a current ratio of 15.47, a quick ratio of 13.18 and a debt-to-equity ratio of 1.51. Rocket Companies has a 52 week low of $8.81 and a 52 week high of $21.38. The firm has a market capitalization of $27.32 billion, a PE ratio of -85.34 and a beta of 2.46.

Rocket Companies (NYSE:RKT) last issued its earnings results on Tuesday, November 12th. The company reported $0.08 EPS for the quarter, hitting the consensus estimate of $0.08. The firm had revenue of $647.00 million during the quarter, compared to analysts’ expectations of $1.25 billion. Rocket Companies had a positive return on equity of 2.86% and a negative net margin of 0.38%. Rocket Companies’s quarterly revenue was down 46.2% compared to the same quarter last year. During the same period last year, the business earned ($0.01) earnings per share. On average, research analysts predict that Rocket Companies will post 0.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Rocket Companies

Several institutional investors and hedge funds have recently made changes to their positions in RKT. Capital Performance Advisors LLP acquired a new position in shares of Rocket Companies during the 3rd quarter valued at $39,000. Quarry LP raised its holdings in shares of Rocket Companies by 858.8% during the second quarter. Quarry LP now owns 4,353 shares of the company’s stock valued at $60,000 after purchasing an additional 3,899 shares during the period. Blue Trust Inc. acquired a new position in shares of Rocket Companies during the second quarter valued at about $61,000. EntryPoint Capital LLC bought a new position in shares of Rocket Companies during the 1st quarter worth about $77,000. Finally, V Square Quantitative Management LLC acquired a new stake in shares of Rocket Companies in the 3rd quarter valued at about $120,000. Institutional investors own 4.59% of the company’s stock.

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.