Analysts Set Rocket Companies, Inc. (NYSE:RKT) PT at $13.83

Rocket Companies, Inc. (NYSE:RKT) has been given a consensus rating of “Reduce” by the twelve ratings firms that are currently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $14.08.

RKT has been the topic of several recent research reports. Wedbush reaffirmed a “neutral” rating and issued a $13.00 price target on shares of Rocket Companies in a research report on Wednesday, March 5th. Keefe, Bruyette & Woods upgraded Rocket Companies from an “underperform” rating to a “market perform” rating and raised their price objective for the company from $12.00 to $14.00 in a research note on Wednesday. JPMorgan Chase & Co. dropped their price target on shares of Rocket Companies from $14.00 to $10.50 and set an “underweight” rating on the stock in a research report on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft raised shares of Rocket Companies from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research report on Wednesday. Finally, Morgan Stanley dropped their target price on shares of Rocket Companies from $16.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Thursday, December 19th.

Rocket Companies Stock Performance

NYSE:RKT opened at $15.38 on Wednesday. The company has a quick ratio of 15.47, a current ratio of 15.47 and a debt-to-equity ratio of 1.51. Rocket Companies has a twelve month low of $10.06 and a twelve month high of $21.38. The company has a fifty day moving average of $13.49 and a 200-day moving average of $14.23. The firm has a market capitalization of $30.70 billion, a P/E ratio of -96.13 and a beta of 2.39.

Rocket Companies Cuts Dividend

The business also recently declared a dividend, which was paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th were given a $0.80 dividend. The ex-dividend date was Thursday, March 20th. Rocket Companies’s dividend payout ratio (DPR) is presently 801.25%.

Hedge Funds Weigh In On Rocket Companies

Large investors have recently modified their holdings of the company. Wellington Management Group LLP grew its position in Rocket Companies by 174.5% during the fourth quarter. Wellington Management Group LLP now owns 4,705,177 shares of the company’s stock worth $52,980,000 after buying an additional 2,990,837 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Rocket Companies by 16.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 330,293 shares of the company’s stock valued at $3,719,000 after buying an additional 46,856 shares in the last quarter. Voloridge Investment Management LLC lifted its position in Rocket Companies by 37.3% in the 4th quarter. Voloridge Investment Management LLC now owns 2,187,240 shares of the company’s stock worth $24,628,000 after buying an additional 593,708 shares during the last quarter. Vident Advisory LLC grew its position in Rocket Companies by 3.6% during the fourth quarter. Vident Advisory LLC now owns 30,798 shares of the company’s stock valued at $347,000 after acquiring an additional 1,078 shares during the last quarter. Finally, Two Sigma Investments LP raised its stake in shares of Rocket Companies by 6.5% during the fourth quarter. Two Sigma Investments LP now owns 205,273 shares of the company’s stock worth $2,311,000 after acquiring an additional 12,508 shares in the last quarter. 4.59% of the stock is currently owned by institutional investors.

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.