Keefe, Bruyette & Woods Boosts Rocket Companies (NYSE:RKT) Price Target to $15.00

Rocket Companies (NYSE:RKT) had its price objective increased by Keefe, Bruyette & Woods from $14.00 to $15.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a market perform rating on the stock.

Other analysts also recently issued reports about the company. Wedbush restated a “neutral” rating and issued a $13.00 price target on shares of Rocket Companies in a research note on Wednesday, March 5th. UBS Group raised shares of Rocket Companies from a “sell” rating to a “neutral” rating and reduced their target price for the company from $12.50 to $11.50 in a research report on Friday, January 10th. JPMorgan Chase & Co. lowered their price target on shares of Rocket Companies from $14.00 to $10.50 and set an “underweight” rating on the stock in a research report on Tuesday, January 14th. Royal Bank of Canada reissued a “sector perform” rating and issued a $18.00 price objective on shares of Rocket Companies in a report on Tuesday, April 1st. Finally, Deutsche Bank Aktiengesellschaft raised shares of Rocket Companies from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Wednesday, April 2nd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $14.25.

Rocket Companies Trading Down 7.0 %

Shares of RKT stock opened at $11.86 on Tuesday. Rocket Companies has a 12-month low of $10.06 and a 12-month high of $21.38. The firm has a 50 day moving average price of $13.54 and a two-hundred day moving average price of $13.95. The company has a quick ratio of 15.47, a current ratio of 15.47 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $23.66 billion, a PE ratio of -74.09 and a beta of 2.35.

Rocket Companies Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Thursday, April 3rd. Investors of record on Thursday, March 20th were paid a $0.80 dividend. The ex-dividend date was Thursday, March 20th. Rocket Companies’s dividend payout ratio (DPR) is presently 801.25%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of RKT. Parallel Advisors LLC boosted its stake in shares of Rocket Companies by 302.2% in the 1st quarter. Parallel Advisors LLC now owns 2,956 shares of the company’s stock valued at $36,000 after purchasing an additional 2,221 shares in the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of Rocket Companies during the fourth quarter worth $47,000. KBC Group NV grew its stake in shares of Rocket Companies by 58.1% during the fourth quarter. KBC Group NV now owns 6,056 shares of the company’s stock worth $68,000 after buying an additional 2,226 shares during the last quarter. Sterling Capital Management LLC increased its holdings in shares of Rocket Companies by 57.2% during the fourth quarter. Sterling Capital Management LLC now owns 8,295 shares of the company’s stock worth $93,000 after buying an additional 3,019 shares in the last quarter. Finally, Caisse Des Depots ET Consignations bought a new position in shares of Rocket Companies in the 4th quarter valued at $99,000. Institutional investors and hedge funds 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.