Keefe, Bruyette & Woods Upgrades Rocket Companies (NYSE:RKT) to Market Perform

Rocket Companies (NYSE:RKT) was upgraded by equities research analysts at Keefe, Bruyette & Woods from an “underperform” rating to a “market perform” rating in a research note issued to investors on Wednesday,Finviz reports. The brokerage presently has a $14.00 price target on the stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 11.42% from the company’s current price.

A number of other equities research analysts have also issued reports on RKT. The Goldman Sachs Group dropped their target price on Rocket Companies from $16.00 to $14.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $18.00 price objective on shares of Rocket Companies in a report on Tuesday. JPMorgan Chase & Co. lowered their price objective on Rocket Companies from $14.00 to $10.50 and set an “underweight” rating on the stock in a research report on Tuesday, January 14th. Morgan Stanley cut their price target on Rocket Companies from $16.00 to $13.00 and set an “equal weight” rating for the company in a research note on Thursday, December 19th. Finally, UBS Group raised shares of Rocket Companies from a “sell” rating to a “neutral” rating and cut their price objective for the stock from $12.50 to $11.50 in a research report on Friday, January 10th. Three investment analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $14.00.

Rocket Companies Trading Up 4.1 %

NYSE RKT opened at $12.57 on Wednesday. The company has a market capitalization of $25.08 billion, a PE ratio of -78.53 and a beta of 2.39. The stock has a 50-day simple moving average of $13.35 and a 200 day simple moving average of $14.27. The company has a current ratio of 15.47, a quick ratio of 15.47 and a debt-to-equity ratio of 1.51. Rocket Companies has a 12 month low of $10.06 and a 12 month high of $21.38.

Hedge Funds Weigh In On Rocket Companies

A number of institutional investors and hedge funds have recently modified their holdings of RKT. Itau Unibanco Holding S.A. bought a new position in Rocket Companies in the 4th quarter valued at $47,000. KBC Group NV increased its position in shares of Rocket Companies by 58.1% during the fourth quarter. KBC Group NV now owns 6,056 shares of the company’s stock worth $68,000 after purchasing an additional 2,226 shares in the last quarter. Sterling Capital Management LLC raised its stake in Rocket Companies by 57.2% in the fourth quarter. Sterling Capital Management LLC now owns 8,295 shares of the company’s stock valued at $93,000 after buying an additional 3,019 shares during the last quarter. Caisse Des Depots ET Consignations purchased a new stake in Rocket Companies during the 4th quarter worth approximately $99,000. Finally, Garner Asset Management Corp purchased a new stake in shares of Rocket Companies during the fourth quarter valued at $118,000. Hedge funds and other 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.