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

Rocket Companies, Inc. (NYSE:RKT) has been assigned an average recommendation of “Reduce” from the twelve ratings firms that are currently covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a sell recommendation and seven have given a hold recommendation to the company. The average 12-month price objective 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 recent analyst reports. Morgan Stanley initiated coverage on Rocket Companies in a research report on Tuesday. They set an “equal weight” rating and a $18.00 price target on the stock. 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. Keefe, Bruyette & Woods raised Rocket Companies from an “underperform” rating to a “market perform” rating in a research report on Monday, August 5th. Bank of America boosted 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. Finally, Barclays boosted their price target on Rocket Companies from $10.00 to $14.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 8th.

Institutional Investors Weigh In On Rocket Companies

Several institutional investors have recently made changes to their positions in RKT. Marshall Wace LLP bought a new stake in shares of Rocket Companies in the second quarter valued at approximately $10,811,000. Renaissance Technologies LLC raised its position in Rocket Companies by 26.1% during the second quarter. Renaissance Technologies LLC now owns 2,468,700 shares of the company’s stock valued at $33,821,000 after purchasing an additional 510,400 shares in the last quarter. Boston Partners raised its position in Rocket Companies by 4.2% during the first quarter. Boston Partners now owns 9,382,173 shares of the company’s stock valued at $136,462,000 after purchasing an additional 381,841 shares in the last quarter. Philip James Wealth Mangement LLC acquired a new position in Rocket Companies during the third quarter valued at approximately $6,811,000. Finally, Los Angeles Capital Management LLC acquired a new position in Rocket Companies during the third quarter valued at approximately $3,655,000. 4.59% of the stock is currently owned by institutional investors.

Rocket Companies Price Performance

Shares of NYSE RKT opened at $16.29 on Friday. The business’s 50 day moving average price is $18.36 and its two-hundred day moving average price is $16.13. The company has a market cap of $32.41 billion, a PE ratio of 232.89 and a beta of 2.46. The company has a quick ratio of 13.18, a current ratio of 13.18 and a debt-to-equity ratio of 1.27. Rocket Companies has a twelve month low of $7.85 and a twelve month high of $21.38.

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.