Rocket Companies (NYSE:RKT) Given New $12.00 Price Target at Keefe, Bruyette & Woods

Rocket Companies (NYSE:RKT) had its price objective hoisted by stock analysts at Keefe, Bruyette & Woods from $10.50 to $12.00 in a report issued on Monday,Benzinga reports. The firm currently has an “underperform” rating on the stock. Keefe, Bruyette & Woods’ price objective would suggest a potential downside of 14.40% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. JPMorgan Chase & Co. lowered their target price on shares of Rocket Companies from $14.00 to $10.50 and set an “underweight” rating on the stock in a report on Tuesday, January 14th. Morgan Stanley decreased their price target on shares of Rocket Companies from $16.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 19th. Wedbush reissued a “neutral” rating and set a $13.00 price objective (down previously from $18.00) on shares of Rocket Companies in a report on Wednesday, November 13th. Piper Sandler reduced their target price on Rocket Companies from $17.00 to $16.00 and set a “neutral” rating on the stock in a report on Thursday, November 14th. Finally, Barclays dropped their price target on Rocket Companies from $14.00 to $13.00 and set an “underweight” rating for the company in a research note on Wednesday, November 13th. Four equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $13.83.

Rocket Companies Stock Up 0.1 %

Shares of Rocket Companies stock traded up $0.02 during midday trading on Monday, hitting $14.02. The company had a trading volume of 2,356,751 shares, compared to its average volume of 3,413,273. The company has a 50 day moving average of $12.06 and a 200 day moving average of $15.12. The stock has a market capitalization of $27.96 billion, a P/E ratio of -87.85 and a beta of 2.43. Rocket Companies has a 52-week low of $10.06 and a 52-week high of $21.38. The company has a debt-to-equity ratio of 1.51, a quick ratio of 15.47 and a current ratio of 15.47.

Institutional Trading of Rocket Companies

Several institutional investors have recently added to or reduced their stakes in RKT. Private Advisor Group LLC raised its holdings in shares of Rocket Companies by 26.8% in the third quarter. Private Advisor Group LLC now owns 14,798 shares of the company’s stock worth $284,000 after buying an additional 3,129 shares during the period. International Assets Investment Management LLC increased its stake in Rocket Companies by 3,429.7% in the third quarter. International Assets Investment Management LLC now owns 7,377 shares of the company’s stock worth $142,000 after purchasing an additional 7,168 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of Rocket Companies by 14.0% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 22,566 shares of the company’s stock worth $433,000 after purchasing an additional 2,766 shares during the last quarter. QRG Capital Management Inc. boosted its stake in shares of Rocket Companies by 2.5% during the third quarter. QRG Capital Management Inc. now owns 229,639 shares of the company’s stock valued at $4,407,000 after purchasing an additional 5,587 shares during the period. Finally, Philip James Wealth Mangement LLC purchased a new stake in shares of Rocket Companies during the third quarter valued at $6,811,000. 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.