Rocket Companies (NYSE:RKT) Receives “Underperform” Rating from Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reaffirmed their underperform rating on shares of Rocket Companies (NYSE:RKT) in a research report report published on Tuesday morning, MarketBeat.com reports. Keefe, Bruyette & Woods currently has a $11.50 price objective on the stock, down from their prior price objective of $16.00.

RKT has been the subject of several other reports. Piper Sandler decreased their price objective on Rocket Companies from $17.00 to $16.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. UBS Group decreased their price target on shares of Rocket Companies from $14.00 to $12.50 and set a “sell” rating for the company in a research report on Thursday, November 14th. Morgan Stanley began coverage on shares of Rocket Companies in a research report on Tuesday, November 5th. They set an “equal weight” rating and a $18.00 price target for the company. Royal Bank of Canada decreased their price target on shares of 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, Barclays decreased their price target on shares of Rocket Companies from $14.00 to $13.00 and set an “underweight” rating for the company in a research report on Wednesday, November 13th. Six research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $14.33.

Rocket Companies Stock Performance

RKT stock opened at $12.58 on Tuesday. The company has a debt-to-equity ratio of 1.51, a current ratio of 15.47 and a quick ratio of 15.47. The business has a 50-day moving average price of $15.81 and a 200 day moving average price of $16.30. The company has a market capitalization of $25.09 billion, a P/E ratio of -78.63 and a beta of 2.38. Rocket Companies has a 1-year low of $10.35 and a 1-year high of $21.38.

Rocket Companies (NYSE:RKT) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.08 earnings per share for the quarter, meeting the consensus estimate of $0.08. The firm had revenue of $647.00 million during the quarter, compared to the consensus estimate of $1.25 billion. Rocket Companies had a positive return on equity of 2.86% and a negative net margin of 0.38%. The firm’s quarterly revenue was down 46.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.01) earnings per share. As a group, equities research analysts forecast that Rocket Companies will post 0.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Rocket Companies

Several hedge funds have recently modified their holdings of the stock. Capital Performance Advisors LLP acquired a new position in Rocket Companies in the 3rd quarter worth approximately $39,000. Quarry LP increased its holdings in Rocket Companies by 858.8% in the 2nd quarter. Quarry LP now owns 4,353 shares of the company’s stock worth $60,000 after buying an additional 3,899 shares during the period. Blue Trust Inc. acquired a new position in Rocket Companies in the 2nd quarter worth approximately $61,000. V Square Quantitative Management LLC acquired a new position in Rocket Companies in the 3rd quarter worth approximately $120,000. Finally, International Assets Investment Management LLC increased its holdings in Rocket Companies by 3,429.7% in the 3rd quarter. International Assets Investment Management LLC now owns 7,377 shares of the company’s stock worth $142,000 after buying an additional 7,168 shares during the period. Institutional investors and hedge funds 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.