Rocket Companies (NYSE:RKT) Trading Up 8.5% - Should You Buy?

Rocket Companies, Inc. (NYSE:RKT - Get Free Report) shares were up 8.5% on Wednesday . The company traded as high as $14.80 and last traded at $14.58. Approximately 3,575,030 shares traded hands during trading, a decline of 0% from the average daily volume of 3,575,250 shares. The stock had previously closed at $13.44.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on RKT shares. Barclays cut their target price on shares of Rocket Companies from $14.00 to $13.00 and set an "underweight" rating on the stock in a research note on Wednesday, November 13th. Morgan Stanley dropped their price objective on shares of Rocket Companies from $16.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Thursday, December 19th. The Goldman Sachs Group dropped their price objective on shares of Rocket Companies from $16.00 to $14.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 7th. JPMorgan Chase & Co. decreased their target price on shares of Rocket Companies from $14.00 to $10.50 and set an "underweight" rating for the company in a report on Tuesday, January 14th. Finally, Keefe, Bruyette & Woods lifted their target price 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. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $13.83.

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Rocket Companies Price Performance

The company has a quick ratio of 15.47, a current ratio of 15.47 and a debt-to-equity ratio of 1.51. The firm's fifty day moving average price is $12.41 and its two-hundred day moving average price is $15.02. The stock has a market capitalization of $31.43 billion, a PE ratio of -98.47 and a beta of 2.39.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Cetera Investment Advisers raised its position in Rocket Companies by 2.9% in the fourth quarter. Cetera Investment Advisers now owns 33,035 shares of the company's stock worth $372,000 after acquiring an additional 936 shares during the period. Vident Advisory LLC raised its position in Rocket Companies by 3.6% in the fourth quarter. Vident Advisory LLC now owns 30,798 shares of the company's stock worth $347,000 after acquiring an additional 1,078 shares during the period. Capital Performance Advisors LLP bought a new position in Rocket Companies in the third quarter worth approximately $39,000. KBC Group NV raised its position in Rocket Companies by 58.1% in the fourth quarter. KBC Group NV now owns 6,056 shares of the company's stock worth $68,000 after acquiring an additional 2,226 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in Rocket Companies by 9.6% in the fourth quarter. The Manufacturers Life Insurance Company now owns 27,825 shares of the company's stock worth $313,000 after acquiring an additional 2,437 shares during the period. 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.