Keefe, Bruyette & Woods Has Lowered Expectations for Rocket Companies (NYSE:RKT) Stock Price

Rocket Companies (NYSE:RKT) had its price objective cut by Keefe, Bruyette & Woods from $20.00 to $16.00 in a report issued on Thursday morning,Benzinga reports. They currently have a market perform rating on the stock.

Several other research analysts have also weighed in on RKT. UBS Group upped their target price on shares of Rocket Companies from $11.50 to $14.00 and gave the stock a “sell” rating in a research report on Monday, September 16th. Wedbush restated a “neutral” rating and set a $13.00 target price (down from $18.00) on shares of Rocket Companies in a research report on Wednesday, November 13th. Royal Bank of Canada lowered their target price on shares of Rocket Companies from $20.00 to $18.00 and set a “sector perform” rating on the stock in a research report on Wednesday, November 13th. Wells Fargo & Company upped their target price on shares of Rocket Companies from $13.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Finally, Piper Sandler lowered their target price on shares of Rocket Companies from $17.00 to $16.00 and set a “neutral” rating on the stock in a research report on Thursday. Five equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $15.13.

Rocket Companies Trading Down 0.4 %

Shares of Rocket Companies stock opened at $13.60 on Thursday. Rocket Companies has a 52-week low of $8.81 and a 52-week high of $21.38. The company has a quick ratio of 13.18, a current ratio of 15.47 and a debt-to-equity ratio of 1.51. The company’s 50-day simple moving average is $17.54 and its 200-day simple moving average is $16.31. The firm has a market cap of $27.06 billion, a price-to-earnings ratio of -85.00 and a beta of 2.46.

Rocket Companies (NYSE:RKT) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.08 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.08. Rocket Companies had a negative net margin of 0.38% and a positive return on equity of 2.86%. The business had revenue of $647.00 million for the quarter, compared to analyst estimates of $1.25 billion. During the same period in the previous year, the business posted ($0.01) earnings per share. The business’s revenue was down 46.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Rocket Companies will post 0.22 earnings per share for the current year.

Institutional Trading of Rocket Companies

Several large investors have recently modified their holdings of RKT. Capital Performance Advisors LLP purchased a new position in shares of Rocket Companies during the third quarter valued at approximately $39,000. Quarry LP lifted its stake in shares of Rocket Companies by 858.8% during the second quarter. Quarry LP now owns 4,353 shares of the company’s stock valued at $60,000 after buying an additional 3,899 shares during the period. Blue Trust Inc. purchased a new position in shares of Rocket Companies during the second quarter valued at approximately $61,000. EntryPoint Capital LLC purchased a new position in shares of Rocket Companies during the first quarter valued at approximately $77,000. Finally, V Square Quantitative Management LLC purchased a new position in shares of Rocket Companies during the third quarter valued at approximately $120,000. 4.59% of the stock is currently owned by institutional investors and hedge funds.

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.