Rocket Companies’ (RKT) “Neutral” Rating Reaffirmed at Wedbush

Wedbush reiterated their neutral rating on shares of Rocket Companies (NYSE:RKT) in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a $13.00 target price on the stock.

RKT has been the topic of a number of other reports. Bank of America raised their target price on Rocket Companies from $14.00 to $15.00 and gave the company an “underperform” rating in a research report on Thursday, November 14th. JPMorgan Chase & Co. dropped their price objective on Rocket Companies from $14.00 to $10.50 and set an “underweight” rating on the stock in a report on Tuesday, January 14th. Morgan Stanley cut their price objective on Rocket Companies from $16.00 to $13.00 and set an “equal weight” rating for the company in a research report on Thursday, December 19th. Barclays decreased their target price on Rocket Companies from $14.00 to $13.00 and set an “underweight” rating on the stock in a research report on Wednesday, November 13th. Finally, Royal Bank of Canada cut their price target on shares of Rocket Companies from $20.00 to $18.00 and set a “sector perform” rating for the company in a report on Wednesday, November 13th. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $13.83.

Rocket Companies Stock Performance

Shares of NYSE RKT opened at $14.95 on Wednesday. Rocket Companies has a 1 year low of $10.06 and a 1 year high of $21.38. The company has a debt-to-equity ratio of 1.51, a quick ratio of 15.47 and a current ratio of 15.47. The company’s fifty day moving average price is $12.24 and its 200 day moving average price is $15.05. The company has a market capitalization of $29.81 billion, a PE ratio of -93.41 and a beta of 2.43.

Hedge Funds Weigh In On Rocket Companies

Several hedge funds and other institutional investors have recently modified their holdings of RKT. Capital Performance Advisors LLP acquired a new stake in Rocket Companies in the 3rd quarter valued at about $39,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Rocket Companies in the fourth quarter valued at approximately $47,000. KBC Group NV lifted its position in Rocket Companies by 58.1% during the fourth quarter. KBC Group NV now owns 6,056 shares of the company’s stock worth $68,000 after buying an additional 2,226 shares in the last quarter. Sterling Capital Management LLC boosted its stake in Rocket Companies by 57.2% during the fourth quarter. Sterling Capital Management LLC now owns 8,295 shares of the company’s stock worth $93,000 after buying an additional 3,019 shares during the last quarter. Finally, Caisse Des Depots ET Consignations purchased a new stake in Rocket Companies in the 4th quarter valued at $99,000. 4.59% of the stock is owned by hedge funds and other institutional investors.

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.