Rocket Companies (NYSE:RKT) Given New $15.00 Price Target at Keefe, Bruyette & Woods

Rocket Companies (NYSE:RKT) had its target price increased by equities researchers at Keefe, Bruyette & Woods from $14.00 to $15.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 9.28% from the company’s previous close.

Several other equities research analysts also recently weighed in on RKT. Wedbush reaffirmed a “neutral” rating and set a $13.00 price target on shares of Rocket Companies in a report on Wednesday, March 5th. Morgan Stanley lowered their target price on shares of Rocket Companies from $16.00 to $13.00 and set an “equal weight” rating on the stock in a report on Thursday, December 19th. The Goldman Sachs Group cut their price target on shares of Rocket Companies from $16.00 to $14.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $18.00 price objective on shares of Rocket Companies in a report on Tuesday, April 1st. Finally, Barclays raised Rocket Companies from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $10.00 to $14.00 in a research note on Tuesday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $14.25.

Rocket Companies Stock Performance

Rocket Companies stock traded down $0.93 during mid-day trading on Tuesday, reaching $13.73. 9,672,597 shares of the company were exchanged, compared to its average volume of 4,214,861. The firm’s 50-day simple moving average is $13.53 and its two-hundred day simple moving average is $14.11. Rocket Companies has a twelve month low of $10.06 and a twelve month high of $21.38. The firm has a market cap of $27.40 billion, a PE 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.

Hedge Funds Weigh In On Rocket Companies

Institutional investors have recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Rocket Companies by 2.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 283,437 shares of the company’s stock worth $5,439,000 after acquiring an additional 7,824 shares during the period. Quantinno Capital Management LP boosted its holdings in shares of Rocket Companies by 2.3% during the third quarter. Quantinno Capital Management LP now owns 153,564 shares of the company’s stock worth $2,947,000 after purchasing an additional 3,402 shares during the last quarter. State Street Corp grew its position in shares of Rocket Companies by 44.7% in the third 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. National Bank of Canada FI increased its stake in Rocket Companies by 6,932.4% in the third quarter. National Bank of Canada FI now owns 145,922 shares of the company’s stock valued at $2,800,000 after purchasing an additional 143,847 shares during the last quarter. Finally, Barclays PLC increased its stake in Rocket Companies by 136.2% in the third quarter. Barclays PLC now owns 238,323 shares of the company’s stock valued at $4,573,000 after purchasing an additional 137,441 shares during the last quarter. 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.