Rocket Companies (NYSE:RKT) Price Target Raised to $12.00

Rocket Companies (NYSE:RKT) had its target price lifted by Keefe, Bruyette & Woods from $10.50 to $12.00 in a report published on Monday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an underperform rating on the stock.

A number of other analysts also recently weighed in on RKT. UBS Group upgraded Rocket Companies from a “sell” rating to a “neutral” rating and dropped their target price for the stock from $12.50 to $11.50 in a research report on Friday, January 10th. Wedbush restated a “neutral” rating and issued a $13.00 target price (down previously from $18.00) on shares of Rocket Companies in a research report on Wednesday, November 13th. The Goldman Sachs Group dropped their target price on Rocket Companies from $16.00 to $14.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Royal Bank of Canada dropped their target price on Rocket Companies from $20.00 to $18.00 and set a “sector perform” rating for the company in a research report on Wednesday, November 13th. Finally, Bank of America increased their price objective on Rocket Companies from $14.00 to $15.00 and gave the company an “underperform” rating in a research note on Thursday, November 14th. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $13.83.

Rocket Companies Stock Performance

NYSE:RKT opened at $14.95 on Monday. The business has a 50 day moving average of $12.24 and a 200 day moving average of $15.05. The company has a market capitalization of $29.81 billion, a price-to-earnings ratio of -93.41 and a beta of 2.43. Rocket Companies has a 1-year low of $10.06 and a 1-year high of $21.38. The company has a debt-to-equity ratio of 1.51, a current ratio of 15.47 and a quick ratio of 15.47.

Hedge Funds Weigh In On Rocket Companies

Hedge funds and other institutional investors have recently made changes to their positions in the business. Victory Capital Management Inc. raised its holdings in shares of Rocket Companies by 324.4% during the third quarter. Victory Capital Management Inc. now owns 67,161 shares of the company’s stock valued at $1,289,000 after acquiring an additional 51,336 shares in the last quarter. Quadrature Capital Ltd bought a new position in shares of Rocket Companies during the third quarter valued at approximately $1,071,000. XTX Topco Ltd bought a new position in shares of Rocket Companies during the third quarter valued at approximately $1,486,000. Entropy Technologies LP bought a new position in shares of Rocket Companies during the third quarter valued at approximately $875,000. Finally, Connective Portfolio Management LLC bought a new position in shares of Rocket Companies during the fourth quarter valued at approximately $428,000. Institutional investors 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.