Rocket Companies, Inc. (NYSE:RKT) Given Average Rating of “Reduce” by Brokerages

Rocket Companies, Inc. (NYSE:RKT) has received a consensus rating of “Reduce” from the thirteen research firms that are covering the company, MarketBeat.com reports. Five analysts have rated the stock with a sell rating and eight have issued a hold rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $13.50.

Several equities analysts have recently commented on RKT shares. JPMorgan Chase & Co. lowered their target price on Rocket Companies from $14.00 to $10.50 and set an “underweight” rating for the company in a report on Tuesday, January 14th. Morgan Stanley lowered their price objective 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. Barclays lowered 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. Royal Bank of Canada decreased their price objective on Rocket Companies from $20.00 to $18.00 and set a “sector perform” rating for the company in a report on Wednesday, November 13th. Finally, The Goldman Sachs Group decreased their price target on Rocket Companies from $16.00 to $14.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th.

Rocket Companies Stock Up 1.7 %

RKT stock opened at $13.08 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. Rocket Companies has a 1-year low of $10.06 and a 1-year high of $21.38. The firm has a fifty day moving average price of $11.86 and a two-hundred day moving average price of $15.42. The firm has a market cap of $26.08 billion, a price-to-earnings ratio of -81.72 and a beta of 2.43.

Institutional Trading of Rocket Companies

Several institutional investors have recently made changes to their positions in RKT. Capital Performance Advisors LLP acquired a new stake in shares of Rocket Companies during the 3rd quarter valued at $39,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Rocket Companies during the 4th quarter valued at about $47,000. KBC Group NV lifted its holdings in shares of Rocket Companies by 58.1% during the 4th quarter. KBC Group NV now owns 6,056 shares of the company’s stock valued at $68,000 after buying an additional 2,226 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Rocket Companies during the 3rd quarter valued at about $120,000. Finally, Blue Trust Inc. lifted its holdings in shares of Rocket Companies by 54.1% during the 3rd quarter. Blue Trust Inc. now owns 6,438 shares of the company’s stock valued at $124,000 after buying an additional 2,261 shares during the last quarter. 4.59% of the stock is currently owned by institutional investors and hedge funds.

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.