Rocket Companies (NYSE:RKT) Upgraded by Keefe, Bruyette & Woods to Market Perform Rating

Keefe, Bruyette & Woods upgraded shares of Rocket Companies (NYSE:RKT) from an underperform rating to a market perform rating in a research note issued to investors on Wednesday morning, Marketbeat.com reports. Keefe, Bruyette & Woods currently has $14.00 price objective on the stock, up from their previous price objective of $12.00.

A number of other analysts also recently issued reports on RKT. The Goldman Sachs Group dropped their price target 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 restated a “neutral” rating and set a $13.00 price objective on shares of Rocket Companies in a research report on Wednesday, March 5th. Morgan Stanley cut their target price on shares of 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. JPMorgan Chase & Co. decreased their target price on shares of Rocket Companies from $14.00 to $10.50 and set an “underweight” rating for the company in a research note on Tuesday, January 14th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $18.00 price target on shares of Rocket Companies in a research note on Tuesday. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $14.08.

Rocket Companies Trading Up 11.1 %

Shares of NYSE:RKT opened at $15.38 on Wednesday. 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 1 year low of $10.06 and a 1 year high of $21.38. The company has a market cap of $30.70 billion, a P/E ratio of -96.13 and a beta of 2.39. The stock’s fifty day moving average price is $13.49 and its 200-day moving average price is $14.23.

Rocket Companies Cuts Dividend

The business also recently announced a dividend, which was paid on Thursday, April 3rd. Investors of record on Thursday, March 20th were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Thursday, March 20th. Rocket Companies’s dividend payout ratio (DPR) is presently 801.25%.

Institutional Trading of Rocket Companies

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