Rocket Companies' (RKT) "Neutral" Rating Reiterated at Wedbush

Rocket Companies (NYSE:RKT - Get Free Report)'s stock had its "neutral" rating restated by equities researchers at Wedbush in a research report issued to clients and investors on Wednesday,RTT News reports. They presently have a $13.00 target price on the stock, down from their previous target price of $18.00. Wedbush's price target would indicate a potential downside of 8.00% from the company's current price.

A number of other equities research analysts have also commented on the company. JPMorgan Chase & Co. raised their price objective on Rocket Companies from $15.00 to $19.00 and gave the stock an "underweight" rating in a research report on Monday, October 7th. Bank of America boosted their target price on shares of Rocket Companies from $12.00 to $14.00 and gave the stock an "underperform" rating in a research report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft increased their price target on Rocket Companies from $11.00 to $15.00 and gave the company a "hold" rating in a report on Friday, August 2nd. Royal Bank of Canada upped their price target on Rocket Companies from $16.00 to $20.00 and gave the company a "sector perform" rating in a report on Wednesday, September 11th. Finally, Wells Fargo & Company upped their target price on shares of Rocket Companies from $13.00 to $15.00 and gave the company an "equal weight" rating in a research note on Friday, August 2nd. Five research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $14.48.

Rocket Companies Trading Down 9.1 %

Shares of RKT traded down $1.41 during midday trading on Wednesday, reaching $14.13. The stock had a trading volume of 13,381,400 shares, compared to its average volume of 2,889,855. Rocket Companies has a 52 week low of $8.39 and a 52 week high of $21.38. The firm's 50 day moving average price is $17.90 and its 200-day moving average price is $16.28. The company has a quick ratio of 13.18, a current ratio of 13.18 and a debt-to-equity ratio of 1.27.

Institutional Trading of Rocket Companies

Hedge funds have recently modified their holdings of the stock. Capital Performance Advisors LLP bought a new stake in shares of Rocket Companies in the third quarter worth $39,000. Blue Trust Inc. bought a new position in shares of Rocket Companies in the 2nd quarter valued at about $61,000. Quarry LP increased its stake in shares of Rocket Companies by 858.8% during the 2nd quarter. Quarry LP now owns 4,353 shares of the company's stock worth $60,000 after purchasing an additional 3,899 shares during the last quarter. EntryPoint Capital LLC acquired a new stake in Rocket Companies in the 1st quarter valued at about $77,000. Finally, V Square Quantitative Management LLC acquired a new position in Rocket Companies during the third quarter worth approximately $120,000. 4.59% of the stock is 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.