Rocket Companies (NYSE:RKT - Free Report) had its price objective hoisted by Keefe, Bruyette & Woods from $10.50 to $12.00 in a report issued on Monday,Benzinga reports. They currently have an underperform rating on the stock.
Several other research analysts have also recently weighed in on the stock. Bank of America boosted their price objective on shares of Rocket Companies from $14.00 to $15.00 and gave the stock an "underperform" rating in a research report on Thursday, November 14th. JPMorgan Chase & Co. dropped their target price on Rocket Companies from $14.00 to $10.50 and set an "underweight" rating for the company in a research report on Tuesday, January 14th. The Goldman Sachs Group decreased their price target on Rocket Companies from $16.00 to $14.00 and set a "neutral" rating on the stock in a report on Tuesday, January 7th. Piper Sandler dropped their price objective on Rocket Companies from $17.00 to $16.00 and set a "neutral" rating for the company in a report on Thursday, November 14th. Finally, Wedbush reaffirmed a "neutral" rating and issued a $13.00 target price (down previously from $18.00) on shares of Rocket Companies in a research note on Wednesday, November 13th. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $13.83.
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Rocket Companies Price Performance
RKT traded down $0.06 during midday trading on Monday, hitting $14.84. The company had a trading volume of 3,991,565 shares, compared to its average volume of 3,714,269. Rocket Companies has a twelve month low of $10.06 and a twelve month high of $21.38. The company has a market capitalization of $29.61 billion, a PE ratio of -92.77 and a beta of 2.43. 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 firm's 50-day simple moving average is $12.24 and its 200-day simple moving average is $15.05.
Institutional Investors Weigh In On Rocket Companies
Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Rocket Companies by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 12,520,074 shares of the company's stock valued at $140,976,000 after buying an additional 431,054 shares in the last quarter. Boston Partners grew its stake in Rocket Companies by 29.8% in the fourth quarter. Boston Partners now owns 12,313,780 shares of the company's stock valued at $138,673,000 after acquiring an additional 2,829,292 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Rocket Companies by 2.2% in the fourth quarter. JPMorgan Chase & Co. now owns 8,161,979 shares of the company's stock worth $91,904,000 after acquiring an additional 174,978 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of Rocket Companies by 52.7% during the 4th quarter. Nuveen Asset Management LLC now owns 8,122,148 shares of the company's stock valued at $91,455,000 after purchasing an additional 2,804,090 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Rocket Companies by 174.5% during the 4th quarter. Wellington Management Group LLP now owns 4,705,177 shares of the company's stock valued at $52,980,000 after purchasing an additional 2,990,837 shares in the last quarter. 4.59% of the stock is currently owned by institutional investors and hedge funds.
Rocket Companies Company Profile
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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.
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