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

Rocket Companies (NYSE:RKT - Free Report) had its target price trimmed by Keefe, Bruyette & Woods from $20.00 to $16.00 in a report released on Thursday morning,Benzinga reports. The firm currently has a market perform rating on the stock.

A number of other brokerages have also issued reports on RKT. Barclays dropped their price target on shares of Rocket Companies from $14.00 to $13.00 and set an "underweight" rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. raised their price objective on shares of Rocket Companies from $15.00 to $19.00 and gave the company an "underweight" rating in a research note on Monday, October 7th. Wells Fargo & Company increased their target price on shares of Rocket Companies from $13.00 to $15.00 and gave the company an "equal weight" rating in a report on Friday, August 2nd. Royal Bank of Canada lowered their price target on Rocket Companies from $20.00 to $18.00 and set a "sector perform" rating on the stock in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Rocket Companies from $11.00 to $15.00 and gave the company a "hold" rating in a research report on Friday, August 2nd. Five investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $15.13.

Rocket Companies Stock Performance

Shares of RKT traded down $0.47 during mid-day trading on Thursday, reaching $13.66. The company had a trading volume of 4,939,539 shares, compared to its average volume of 2,899,193. The stock has a 50 day moving average of $17.78 and a two-hundred day moving average of $16.27. The company has a quick ratio of 13.18, a current ratio of 13.18 and a debt-to-equity ratio of 1.27. Rocket Companies has a 52-week low of $8.81 and a 52-week high of $21.38. The stock has a market capitalization of $27.18 billion, a P/E ratio of -85.88 and a beta of 2.46.

Rocket Companies (NYSE:RKT - Get Free Report) last posted its earnings results on Tuesday, November 12th. The company reported $0.08 EPS for the quarter, meeting analysts' consensus estimates of $0.08. The company had revenue of $647.00 million for the quarter, compared to analysts' expectations of $1.25 billion. Rocket Companies had a negative net margin of 0.38% and a positive return on equity of 2.84%. Rocket Companies's revenue for the quarter was down 46.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.01) earnings per share. On average, analysts expect that Rocket Companies will post 0.22 earnings per share for the current year.

Hedge Funds Weigh In On Rocket Companies

Institutional investors and hedge funds have recently made changes to their positions in the company. Swiss National Bank raised its position in shares of Rocket Companies by 4.1% during the first quarter. Swiss National Bank now owns 237,000 shares of the company's stock worth $3,448,000 after purchasing an additional 9,300 shares during the period. Jacobs Levy Equity Management Inc. bought a new stake in Rocket Companies during the 1st quarter valued at $2,698,000. Raymond James & Associates raised its holdings in Rocket Companies by 48.7% during the third quarter. Raymond James & Associates now owns 300,612 shares of the company's stock worth $5,769,000 after buying an additional 98,397 shares during the last quarter. Philip James Wealth Mangement LLC acquired a new position in shares of Rocket Companies during the third quarter valued at about $6,811,000. Finally, Boston Partners increased its position in shares of Rocket Companies by 4.2% during the first quarter. Boston Partners now owns 9,382,173 shares of the company's stock worth $136,462,000 after acquiring an additional 381,841 shares in the last quarter. Institutional investors and hedge funds 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.