Rocket Companies, Inc. (NYSE:RKT) Receives $14.89 Average Price Target from Brokerages

Rocket Companies, Inc. (NYSE:RKT) has received a consensus rating of “Reduce” from the twelve analysts that are presently covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $15.15.

RKT has been the topic of a number of research analyst reports. UBS Group lifted their price target on shares of Rocket Companies from $11.50 to $14.00 and gave the company a “sell” rating in a report on Monday, September 16th. JPMorgan Chase & Co. lifted their target price on shares of Rocket Companies from $15.00 to $19.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Keefe, Bruyette & Woods upgraded shares of Rocket Companies from an “underperform” rating to a “market perform” rating in a report on Monday, August 5th. Morgan Stanley initiated coverage on shares of Rocket Companies in a report on Tuesday, November 5th. They set an “equal weight” rating and a $18.00 target price on the stock. Finally, Barclays lifted their target price on shares of Rocket Companies from $10.00 to $14.00 and gave the company an “underweight” rating in a report on Tuesday, October 8th.

Rocket Companies Stock Down 1.4 %

Shares of RKT opened at $15.87 on Friday. The firm has a market cap of $31.57 billion, a PE ratio of 226.75 and a beta of 2.46. The company’s fifty day moving average is $18.06 and its two-hundred day moving average is $16.19. Rocket Companies has a fifty-two week low of $7.85 and a fifty-two week high of $21.38. The company has a quick ratio of 13.18, a current ratio of 13.18 and a debt-to-equity ratio of 1.27.

Hedge Funds Weigh In On Rocket Companies

A number of institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its holdings in Rocket Companies by 324.4% in the 3rd quarter. Victory Capital Management Inc. now owns 67,161 shares of the company’s stock worth $1,289,000 after buying an additional 51,336 shares in the last quarter. Aigen Investment Management LP increased its position in shares of Rocket Companies by 38.3% in the 3rd quarter. Aigen Investment Management LP now owns 24,978 shares of the company’s stock worth $479,000 after purchasing an additional 6,922 shares during the last quarter. Entropy Technologies LP bought a new stake in shares of Rocket Companies in the 3rd quarter worth about $875,000. Versor Investments LP bought a new stake in shares of Rocket Companies in the 3rd quarter worth about $223,000. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Rocket Companies in the 3rd quarter worth about $3,655,000. 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.