Keefe, Bruyette & Woods Issues Positive Forecast for Rocket Companies (NYSE:RKT) Stock Price

Rocket Companies (NYSE:RKT - Get Free Report) had its price target increased by analysts at Keefe, Bruyette & Woods from $14.00 to $15.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a "market perform" rating on the stock. Keefe, Bruyette & Woods' price objective indicates a potential upside of 26.49% from the company's current price.

A number of other research firms also recently issued reports on RKT. Morgan Stanley decreased their target price on Rocket Companies from $16.00 to $13.00 and set an "equal weight" rating for the company in a research report on Thursday, December 19th. Barclays raised Rocket Companies from an "underweight" rating to an "equal weight" rating and lifted their price objective for the stock from $10.00 to $14.00 in a report on Tuesday, April 8th. The Goldman Sachs Group dropped their price objective on shares of Rocket Companies from $16.00 to $14.00 and set a "neutral" rating on the stock in a report on Tuesday, January 7th. Wedbush reiterated a "neutral" rating and issued a $13.00 target price on shares of Rocket Companies in a research note on Wednesday, March 5th. Finally, 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. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $14.25.

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Rocket Companies Stock Performance

Shares of Rocket Companies stock traded down $0.02 on Tuesday, reaching $11.86. 18,607,550 shares of the company traded hands, compared to its average volume of 4,456,099. The company has a 50 day moving average of $13.53 and a 200 day moving average of $13.90. The company has a debt-to-equity ratio of 1.51, a current ratio of 15.47 and a quick ratio of 15.47. Rocket Companies has a 52 week low of $10.06 and a 52 week high of $21.38. The firm has a market capitalization of $23.67 billion, a PE ratio of -74.12 and a beta of 2.35.

Hedge Funds Weigh In On Rocket Companies

Institutional investors have recently added to or reduced their stakes in the business. AXQ Capital LP grew its holdings in shares of Rocket Companies by 125.7% during the fourth quarter. AXQ Capital LP now owns 146,691 shares of the company's stock worth $1,652,000 after purchasing an additional 81,695 shares in the last quarter. Vanguard Group Inc. grew its stake in Rocket Companies by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 12,520,074 shares of the company's stock worth $140,976,000 after buying an additional 431,054 shares in the last quarter. Quantbot Technologies LP increased its holdings in shares of Rocket Companies by 76.9% in the 4th quarter. Quantbot Technologies LP now owns 270,761 shares of the company's stock worth $3,049,000 after buying an additional 117,728 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of Rocket Companies by 131.7% during the 4th quarter. Jones Financial Companies Lllp now owns 36,427 shares of the company's stock valued at $410,000 after buying an additional 20,706 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Rocket Companies by 11.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,163,243 shares of the company's stock worth $13,098,000 after acquiring an additional 122,534 shares during the last quarter. 4.59% of the stock is currently 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.