Rocket Companies (NYSE:RKT) Given Underperform Rating at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods restated their underperform rating on shares of Rocket Companies (NYSE:RKT) in a research note issued to investors on Tuesday morning, MarketBeat.com reports. They currently have a $11.50 target price on the stock, down from their previous target price of $16.00.

Several other brokerages have also commented on RKT. Barclays lowered their price objective on shares of Rocket Companies from $14.00 to $13.00 and set an “underweight” rating on the stock in a research report on Wednesday, November 13th. Bank of America raised their price target on shares of Rocket Companies from $14.00 to $15.00 and gave the stock an “underperform” rating in a research note on Thursday, November 14th. Wedbush reiterated a “neutral” rating and issued a $13.00 price objective (down previously from $18.00) on shares of Rocket Companies in a research note on Wednesday, November 13th. UBS Group decreased their target price on Rocket Companies from $14.00 to $12.50 and set a “sell” rating for the company in a research report on Thursday, November 14th. Finally, Piper Sandler lowered their target price on Rocket Companies from $17.00 to $16.00 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. Six equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $14.33.

Rocket Companies Stock Performance

Shares of RKT opened at $12.51 on Tuesday. The stock has a 50 day moving average of $15.44 and a 200 day moving average of $16.25. The company has a market capitalization of $24.94 billion, a price-to-earnings ratio of -78.16 and a beta of 2.38. Rocket Companies has a 12 month low of $10.81 and a 12 month high of $21.38. 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 (NYSE:RKT) last announced its earnings results on Tuesday, November 12th. The company reported $0.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.08. The firm had revenue of $647.00 million during the quarter, compared to analyst estimates of $1.25 billion. Rocket Companies had a positive return on equity of 2.86% and a negative net margin of 0.38%. The business’s revenue was down 46.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.01) EPS. As a group, sell-side analysts forecast that Rocket Companies will post 0.16 earnings per share for the current year.

Institutional Trading of Rocket Companies

A number of institutional investors have recently added to or reduced their stakes in RKT. Tidal Investments LLC grew its holdings in Rocket Companies by 804.3% during the 3rd quarter. Tidal Investments LLC now owns 315,764 shares of the company’s stock valued at $6,060,000 after buying an additional 280,847 shares in the last quarter. Virtu Financial LLC boosted its position in shares of Rocket Companies by 22.1% in the third quarter. Virtu Financial LLC now owns 16,135 shares of the company’s stock valued at $310,000 after acquiring an additional 2,925 shares during the period. Geode Capital Management LLC grew its stake in Rocket Companies by 0.6% during the third quarter. Geode Capital Management LLC now owns 2,043,975 shares of the company’s stock valued at $39,235,000 after acquiring an additional 12,735 shares in the last quarter. Barclays PLC increased its holdings in Rocket Companies by 136.2% during the 3rd quarter. Barclays PLC now owns 238,323 shares of the company’s stock worth $4,573,000 after acquiring an additional 137,441 shares during the period. Finally, XTX Topco Ltd purchased a new stake in Rocket Companies in the 3rd quarter worth approximately $1,486,000. Hedge funds and other institutional investors own 4.59% of the company’s stock.

Rocket Companies Company Profile

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.