Rocket Companies (NYSE:RKT) Given “Neutral” Rating at Wedbush

Wedbush reissued their neutral rating on shares of Rocket Companies (NYSE:RKT) in a research note issued to investors on Wednesday morning,RTT News reports. Wedbush currently has a $13.00 price objective on the stock, down from their previous price objective of $18.00.

A number of other research firms have also recently issued reports on RKT. Deutsche Bank Aktiengesellschaft raised their price target on shares of Rocket Companies from $11.00 to $15.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. UBS Group upped their target price on Rocket Companies from $11.50 to $14.00 and gave the stock a “sell” rating in a research note on Monday, September 16th. Morgan Stanley started 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. Barclays lifted their price objective on Rocket Companies from $10.00 to $14.00 and gave the stock an “underweight” rating in a report on Tuesday, October 8th. Finally, Royal Bank of Canada boosted their price target on Rocket Companies from $16.00 to $20.00 and gave the stock a “sector perform” rating in a research report on Wednesday, September 11th. Five investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $15.17.

Rocket Companies Stock Down 1.9 %

NYSE RKT traded down $0.27 during midday trading on Wednesday, hitting $13.86. 377,395 shares of the company traded hands, compared to its average volume of 2,878,063. Rocket Companies has a 52 week low of $8.81 and a 52 week high of $21.38. The company’s 50-day simple moving average is $17.78 and its 200-day simple moving average is $16.27. The company has a market cap of $27.57 billion, a PE ratio of -88.31 and a beta of 2.46. The company has a debt-to-equity ratio of 1.27, a current ratio of 13.18 and a quick ratio of 13.18.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Marshall Wace LLP acquired a new stake in Rocket Companies in the second quarter valued at $10,811,000. Renaissance Technologies LLC increased its position in Rocket Companies by 26.1% during the 2nd quarter. Renaissance Technologies LLC now owns 2,468,700 shares of the company’s stock worth $33,821,000 after purchasing an additional 510,400 shares in the last quarter. Boston Partners grew its stake in Rocket Companies by 4.2% in the 1st quarter. Boston Partners now owns 9,382,173 shares of the company’s stock worth $136,462,000 after acquiring an additional 381,841 shares during the period. Philip James Wealth Mangement LLC acquired a new position in Rocket Companies in the third quarter valued at $6,811,000. Finally, Los Angeles Capital Management LLC purchased a new position in shares of Rocket Companies during the 3rd quarter worth about $3,655,000. 4.59% of the stock is currently owned by institutional investors and hedge funds.

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.