Rocket Companies, Inc. (NYSE:RKT) Given Consensus Recommendation of "Reduce" by Brokerages

Rocket Companies, Inc. (NYSE:RKT - Get Free Report) has received a consensus rating of "Reduce" from the twelve brokerages that are covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a sell rating and eight have issued a hold rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $13.83.

A number of brokerages have commented on RKT. Piper Sandler cut their price target on shares of Rocket Companies from $17.00 to $16.00 and set a "neutral" rating for the company in a research note on Thursday, November 14th. Bank of America raised their price target on shares of Rocket Companies from $14.00 to $15.00 and gave the stock an "underperform" rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. cut their price target on shares of Rocket Companies from $14.00 to $10.50 and set an "underweight" rating for the company in a research note on Tuesday, January 14th. Barclays cut their price target on shares of Rocket Companies from $14.00 to $13.00 and set an "underweight" rating for the company in a research note on Wednesday, November 13th. Finally, UBS Group upgraded shares of Rocket Companies from a "sell" rating to a "neutral" rating and cut their price target for the stock from $12.50 to $11.50 in a research note on Friday, January 10th.

Rocket Companies Stock Performance

Shares of NYSE RKT traded up $0.91 during mid-day trading on Friday, hitting $15.76. The company had a trading volume of 7,851,655 shares, compared to its average volume of 3,096,339. The firm has a market cap of $31.43 billion, a P/E ratio of -98.47 and a beta of 2.39. The company has a debt-to-equity ratio of 1.51, a current ratio of 15.47 and a quick ratio of 15.47. Rocket Companies has a 12 month low of $10.06 and a 12 month high of $21.38. The business's 50-day simple moving average is $12.41 and its 200-day simple moving average is $15.02.

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Institutional Trading of Rocket Companies

A number of hedge funds and other institutional investors have recently modified their holdings of RKT. Capital Performance Advisors LLP acquired a new stake in shares of Rocket Companies in the third quarter valued at approximately $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 increased its holdings in shares of Rocket Companies by 58.1% in the fourth quarter. KBC Group NV now owns 6,056 shares of the company's stock valued at $68,000 after purchasing an additional 2,226 shares in the last quarter. Sterling Capital Management LLC increased its holdings in shares of Rocket Companies by 57.2% in the fourth quarter. Sterling Capital Management LLC now owns 8,295 shares of the company's stock valued at $93,000 after purchasing an additional 3,019 shares in the last quarter. Finally, Caisse Des Depots ET Consignations acquired a new stake in shares of Rocket Companies in the fourth quarter valued at approximately $99,000. Institutional investors and hedge funds own 4.59% of the company's stock.

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.