Rocket Companies (NYSE:RKT) Given New $12.50 Price Target at UBS Group

Rocket Companies (NYSE:RKT) had its price objective cut by investment analysts at UBS Group from $14.00 to $12.50 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “sell” rating on the stock. UBS Group’s target price would suggest a potential downside of 9.55% from the stock’s current price.

RKT has been the topic of a number of other reports. Wells Fargo & Company lifted their price objective on shares of Rocket Companies from $13.00 to $15.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Barclays dropped their price target on shares of Rocket Companies from $14.00 to $13.00 and set an “underweight” rating on the stock in a research note on Wednesday. Wedbush reaffirmed a “neutral” rating and set a $13.00 price objective (down previously from $18.00) on shares of Rocket Companies in a report on Wednesday. Piper Sandler reduced their target price on Rocket Companies from $17.00 to $16.00 and set a “neutral” rating for the company in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Rocket Companies from $11.00 to $15.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Five equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $15.04.

Rocket Companies Stock Performance

RKT traded down $0.31 on Thursday, hitting $13.82. 434,569 shares of the company traded hands, compared to its average volume of 2,878,808. Rocket Companies has a 12-month low of $8.81 and a 12-month high of $21.38. The company has a 50 day moving average of $17.78 and a 200-day moving average of $16.27. The company has a quick ratio of 13.18, a current ratio of 13.18 and a debt-to-equity ratio of 1.27. The stock has a market capitalization of $27.49 billion, a PE ratio of -86.56 and a beta of 2.46.

Hedge Funds Weigh In On Rocket Companies

A number of institutional investors have recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in Rocket Companies in the 3rd quarter valued at $39,000. Blue Trust Inc. acquired a new stake in Rocket Companies in the 2nd quarter worth about $61,000. Quarry LP grew its holdings in Rocket Companies by 858.8% in the 2nd quarter. Quarry LP now owns 4,353 shares of the company’s stock valued at $60,000 after buying an additional 3,899 shares during the period. EntryPoint Capital LLC purchased a new position in shares of Rocket Companies during the 1st quarter worth about $77,000. Finally, V Square Quantitative Management LLC purchased a new stake in Rocket Companies in the third quarter valued at approximately $120,000. Institutional investors and hedge funds own 4.59% of the company’s stock.

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.