Rocket Companies (NYSE:RKT) Stock Rating Upgraded by Keefe, Bruyette & Woods

Keefe, Bruyette & Woods upgraded shares of Rocket Companies (NYSE:RKT - Free Report) from an underperform rating to a market perform rating in a research note issued to investors on Wednesday morning, Marketbeat reports. The brokerage currently has $14.00 target price on the stock, up from their prior target price of $12.00.

Several other equities analysts have also recently weighed in on RKT. UBS Group raised shares of Rocket Companies from a "sell" rating to a "neutral" rating and decreased their price target for the stock from $12.50 to $11.50 in a research note on Friday, January 10th. The Goldman Sachs Group decreased their target price on shares of Rocket Companies from $16.00 to $14.00 and set a "neutral" rating for the company in a research report on Tuesday, January 7th. 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. Royal Bank of Canada reissued a "sector perform" rating and issued a $18.00 target price on shares of Rocket Companies in a research note on Tuesday. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Rocket Companies from $14.00 to $10.50 and set an "underweight" rating on the stock in a research note on Tuesday, January 14th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, Rocket Companies presently has an average rating of "Hold" and an average target price of $14.08.

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Rocket Companies Stock Up 11.1 %

Shares of Rocket Companies stock traded up $1.53 during trading on Wednesday, reaching $15.38. The stock had a trading volume of 36,549,894 shares, compared to its average volume of 4,106,403. The company has a current ratio of 15.47, a quick ratio of 15.47 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $30.70 billion, a price-to-earnings ratio of -96.13 and a beta of 2.39. The stock has a fifty day moving average price of $13.49 and a two-hundred day moving average price of $14.23. Rocket Companies has a 52 week low of $10.06 and a 52 week high of $21.38.

Rocket Companies Cuts Dividend

The firm also recently announced a dividend, which was paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th were given a $0.80 dividend. The ex-dividend date was Thursday, March 20th. Rocket Companies's payout ratio is presently 801.25%.

Hedge Funds Weigh In On Rocket Companies

Hedge funds have recently bought and sold shares of the business. Cetera Investment Advisers lifted its position in Rocket Companies by 2.9% during the fourth quarter. Cetera Investment Advisers now owns 33,035 shares of the company's stock worth $372,000 after purchasing an additional 936 shares during the period. Vident Advisory LLC raised its position in shares of Rocket Companies by 3.6% in the 4th quarter. Vident Advisory LLC now owns 30,798 shares of the company's stock valued at $347,000 after buying an additional 1,078 shares in the last quarter. KBC Group NV lifted its holdings in shares of Rocket Companies by 58.1% during the 4th quarter. KBC Group NV now owns 6,056 shares of the company's stock worth $68,000 after acquiring an additional 2,226 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Rocket Companies by 9.6% during the 4th quarter. The Manufacturers Life Insurance Company now owns 27,825 shares of the company's stock worth $313,000 after acquiring an additional 2,437 shares in the last quarter. Finally, Lakeshore Financial Planning Inc. increased its stake in Rocket Companies by 21.7% in the fourth quarter. Lakeshore Financial Planning Inc. now owns 13,996 shares of the company's stock valued at $158,000 after acquiring an additional 2,500 shares during the last quarter. 4.59% of the stock is owned by institutional investors.

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.