Rocket Companies (NYSE:RKT) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Rocket Companies (NYSE:RKT) had its price target increased by equities research analysts at Keefe, Bruyette & Woods from $14.00 to $15.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 9.28% from the company’s current price.

Several other research analysts also recently weighed in on the company. JPMorgan Chase & Co. dropped their target price on Rocket Companies from $14.00 to $10.50 and set an “underweight” rating on the stock in a research note on Tuesday, January 14th. UBS Group upgraded Rocket Companies from a “sell” rating to a “neutral” rating and lowered their target price for the stock from $12.50 to $11.50 in a research note on Friday, January 10th. 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 report on Tuesday, January 7th. Wedbush reissued a “neutral” rating and set a $13.00 target price on shares of Rocket Companies in a report on Wednesday, March 5th. Finally, Deutsche Bank Aktiengesellschaft raised Rocket Companies from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a report on Wednesday, April 2nd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $14.25.

Rocket Companies Stock Down 6.4 %

RKT stock traded down $0.93 during trading on Tuesday, reaching $13.73. 9,672,597 shares of the company traded hands, compared to its average volume of 4,214,861. Rocket Companies has a 12 month low of $10.06 and a 12 month high of $21.38. The company has a market capitalization of $27.40 billion, a price-to-earnings ratio of -85.86 and a beta of 2.35. The company has a debt-to-equity ratio of 1.51, a quick ratio of 15.47 and a current ratio of 15.47. The business has a 50 day simple moving average of $13.53 and a 200 day simple moving average of $14.11.

Institutional Investors Weigh In On Rocket Companies

Several institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its position in Rocket Companies by 174.5% in the fourth quarter. Wellington Management Group LLP now owns 4,705,177 shares of the company’s stock valued at $52,980,000 after acquiring an additional 2,990,837 shares during the last quarter. Boston Partners increased its position in shares of Rocket Companies by 29.8% during the fourth quarter. Boston Partners now owns 12,313,780 shares of the company’s stock worth $138,673,000 after purchasing an additional 2,829,292 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of Rocket Companies by 52.7% in the 4th quarter. Nuveen Asset Management LLC now owns 8,122,148 shares of the company’s stock valued at $91,455,000 after purchasing an additional 2,804,090 shares during the last quarter. State Street Corp boosted its position in shares of Rocket Companies by 44.7% in the 3rd quarter. State Street Corp now owns 4,108,189 shares of the company’s stock valued at $78,836,000 after purchasing an additional 1,269,795 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in Rocket Companies during the 4th quarter worth approximately $14,113,000. Hedge funds and other 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.