Rocket Companies, Inc. (NYSE:RKT - Get Free Report) shares traded up 5.4% on Thursday . The company traded as high as $14.63 and last traded at $14.87. 637,577 shares changed hands during trading, a decline of 81% from the average session volume of 3,375,141 shares. The stock had previously closed at $14.10.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on RKT. Keefe, Bruyette & Woods upped their price objective on shares of Rocket Companies from $10.50 to $12.00 and gave the stock an "underperform" rating in a report on Monday, March 3rd. JPMorgan Chase & Co. lowered their price target 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 cut their price objective on Rocket Companies from $16.00 to $14.00 and set a "neutral" rating on the stock in a report on Tuesday, January 7th. Morgan Stanley lowered their target price on Rocket Companies from $16.00 to $13.00 and set an "equal weight" rating for the company in a report on Thursday, December 19th. Finally, Wedbush reissued a "neutral" rating and set a $13.00 price target on shares of Rocket Companies in a research report on Wednesday, March 5th. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $13.83.
View Our Latest Stock Report on RKT
Rocket Companies Trading Down 0.6 %
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 company's 50-day moving average price is $13.14 and its 200-day moving average price is $14.57. The firm has a market capitalization of $27.99 billion, a PE ratio of -87.63 and a beta of 2.39.
Rocket Companies Cuts Dividend
The firm also recently disclosed a dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Thursday, March 20th. Rocket Companies's payout ratio is currently 801.25%.
Institutional Investors Weigh In On Rocket Companies
Institutional investors have recently added to or reduced their stakes in the business. AXQ Capital LP boosted its holdings in shares of Rocket Companies by 125.7% in the 4th quarter. AXQ Capital LP now owns 146,691 shares of the company's stock valued at $1,652,000 after buying an additional 81,695 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Rocket Companies by 131.7% in the fourth quarter. Jones Financial Companies Lllp now owns 36,427 shares of the company's stock valued at $410,000 after buying an additional 20,706 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Rocket Companies by 324.4% in the third quarter. Victory Capital Management Inc. now owns 67,161 shares of the company's stock valued at $1,289,000 after buying an additional 51,336 shares in the last quarter. XTX Topco Ltd acquired a new position in Rocket Companies during the third quarter worth $1,486,000. Finally, Quadrature Capital Ltd purchased a new position in Rocket Companies in the third quarter worth $1,071,000. Hedge funds and other institutional investors own 4.59% of the company's stock.
Rocket Companies Company Profile
(
Get Free Report)
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.
Further Reading
Before you consider Rocket Companies, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Rocket Companies wasn't on the list.
While Rocket Companies currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
