Brokerages Set Rocket Companies, Inc. (NYSE:RKT) Target Price at $14.89

Shares of Rocket Companies, Inc. (NYSE:RKT) have been given an average recommendation of “Reduce” by the twelve ratings firms that are currently covering the company, Marketbeat Ratings reports. Five research 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 analysts that have updated their coverage on the stock in the last year is $15.15.

Several research analysts have issued reports on RKT shares. Wells Fargo & Company increased their price objective on Rocket Companies from $13.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Wedbush lifted their price target on shares of Rocket Companies from $15.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, September 11th. Morgan Stanley started coverage on shares of Rocket Companies in a research note on Tuesday. They set an “equal weight” rating and a $18.00 price objective on the stock. Keefe, Bruyette & Woods upgraded shares of Rocket Companies from an “underperform” rating to a “market perform” rating in a research note on Monday, August 5th. Finally, Bank of America increased their price target on Rocket Companies from $12.00 to $14.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th.

Institutional Investors Weigh In On Rocket Companies

A number of institutional investors and hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. boosted its stake in Rocket Companies by 324.4% in the third quarter. Victory Capital Management Inc. now owns 67,161 shares of the company’s stock valued at $1,289,000 after acquiring an additional 51,336 shares during the last quarter. Aigen Investment Management LP boosted 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 acquired a new stake in shares of Rocket Companies during the third quarter worth $875,000. Versor Investments LP bought a new stake in Rocket Companies in the third quarter valued at about $223,000. Finally, Los Angeles Capital Management LLC acquired a new position in Rocket Companies in the third quarter valued at about $3,655,000. 4.59% of the stock is owned by institutional investors.

Rocket Companies Trading Up 2.2 %

RKT stock opened at $16.10 on Friday. Rocket Companies has a 1-year low of $7.85 and a 1-year high of $21.38. The company has a current ratio of 13.18, a quick ratio of 13.18 and a debt-to-equity ratio of 1.27. The business’s 50 day moving average is $18.20 and its 200-day moving average is $16.16. The firm has a market cap of $32.03 billion, a P/E ratio of 230.03 and a beta of 2.46.

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.