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

Rocket Companies (NYSE:RKT - Get Free Report) had its price objective dropped by investment analysts at Keefe, Bruyette & Woods from $15.00 to $13.00 in a research report issued on Monday,Benzinga reports. The firm presently has a "market perform" rating on the stock. Keefe, Bruyette & Woods' price target would indicate a potential upside of 11.54% from the company's current price.

RKT has been the subject of a number of other research reports. Barclays upgraded shares of Rocket Companies from an "underweight" rating to an "equal weight" rating and increased their target price for the company from $10.00 to $14.00 in a research report on Tuesday, April 8th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $18.00 price objective on shares of Rocket Companies in a research report on Tuesday, April 1st. JPMorgan Chase & Co. dropped 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. UBS Group decreased their target price on Rocket Companies from $14.00 to $13.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Rocket Companies from a "hold" rating to a "buy" rating and set a $16.00 target price for the company in a research note on Wednesday, April 2nd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $14.13.

Rocket Companies Stock Up 4.9%

NYSE:RKT traded up $0.55 during trading hours on Monday, hitting $11.66. The stock had a trading volume of 9,485,767 shares, compared to its average volume of 5,118,130. 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 business has a 50 day simple moving average of $13.19 and a two-hundred day simple moving average of $13.09. The company has a market cap of $23.27 billion, a PE ratio of -72.84 and a beta of 2.33. Rocket Companies has a 1-year low of $10.06 and a 1-year high of $21.38.

Rocket Companies (NYSE:RKT - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.04 EPS for the quarter, meeting the consensus estimate of $0.04. Rocket Companies had a positive return on equity of 2.86% and a negative net margin of 0.38%. The company had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.26 billion. During the same period in the prior year, the business posted $0.04 EPS. The business's revenue was down 10.8% on a year-over-year basis. Analysts predict that Rocket Companies will post 0.15 EPS for the current year.

Institutional Trading of Rocket Companies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RKT. Cetera Investment Advisers lifted its position in shares of Rocket Companies by 2.9% during the 4th quarter. Cetera Investment Advisers now owns 33,035 shares of the company's stock valued at $372,000 after acquiring an additional 936 shares during the period. Vident Advisory LLC raised its holdings in shares of Rocket Companies by 3.6% in the fourth quarter. Vident Advisory LLC now owns 30,798 shares of the company's stock valued at $347,000 after purchasing an additional 1,078 shares during the last quarter. CWM LLC boosted its stake in shares of Rocket Companies by 22.8% in the 1st quarter. CWM LLC now owns 6,702 shares of the company's stock worth $81,000 after buying an additional 1,243 shares during the last quarter. Brooktree Capital Management increased its position in shares of Rocket Companies by 1.3% during the 1st quarter. Brooktree Capital Management now owns 112,073 shares of the company's stock valued at $1,353,000 after purchasing an additional 1,479 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in Rocket Companies by 82.4% in the first quarter. GAMMA Investing LLC now owns 3,905 shares of the company's stock worth $47,000 after acquiring an additional 1,764 shares during the period. 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.

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