Rocket Companies (NYSE:RKT) Rating Increased to Equal Weight at Barclays

Rocket Companies (NYSE:RKT - Get Free Report) was upgraded by research analysts at Barclays from an "underweight" rating to an "equal weight" rating in a note issued to investors on Tuesday, MarketBeat.com reports. The brokerage currently has a $14.00 price objective on the stock, up from their previous price objective of $10.00. Barclays's price target suggests a potential upside of 18.05% from the stock's previous close.

A number of other research analysts have also recently issued reports on RKT. The Goldman Sachs Group cut their target price on shares of Rocket Companies from $16.00 to $14.00 and set a "neutral" rating for the company in a research note on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft upgraded Rocket Companies from a "hold" rating to a "buy" rating and set a $16.00 price objective for the company in a research report on Wednesday, April 2nd. UBS Group raised Rocket Companies from a "sell" rating to a "neutral" rating and reduced their price objective for the stock from $12.50 to $11.50 in a research note on Friday, January 10th. JPMorgan Chase & Co. lowered their target price on Rocket Companies from $14.00 to $10.50 and set an "underweight" rating for the company in a research note on Tuesday, January 14th. Finally, Wedbush reiterated a "neutral" rating and set a $13.00 price target on shares of Rocket Companies in a research report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $14.25.

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Rocket Companies Price Performance

Shares of RKT traded down $0.02 during trading hours on Tuesday, hitting $11.86. The stock had a trading volume of 18,607,550 shares, compared to its average volume of 4,456,099. Rocket Companies has a 52 week low of $10.06 and a 52 week high of $21.38. The stock has a market capitalization of $23.67 billion, a price-to-earnings ratio of -74.12 and a beta of 2.35. The company's fifty day moving average is $13.53 and its two-hundred day moving average is $13.90. The company has a debt-to-equity ratio of 1.51, a current ratio of 15.47 and a quick ratio of 15.47.

Institutional Investors Weigh In On Rocket Companies

Institutional investors and hedge funds have recently modified their holdings of the business. AXQ Capital LP grew its holdings in Rocket Companies by 125.7% during the 4th quarter. AXQ Capital LP now owns 146,691 shares of the company's stock worth $1,652,000 after acquiring an additional 81,695 shares during the period. Vanguard Group Inc. boosted 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 worth $140,976,000 after purchasing an additional 431,054 shares during the last quarter. Quantbot Technologies LP grew its stake in shares of Rocket Companies by 76.9% during the fourth quarter. Quantbot Technologies LP now owns 270,761 shares of the company's stock worth $3,049,000 after purchasing an additional 117,728 shares during the period. Jones Financial Companies Lllp increased its holdings in 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 purchasing an additional 20,706 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Rocket Companies by 11.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,163,243 shares of the company's stock valued at $13,098,000 after buying an additional 122,534 shares during the period. 4.59% of the stock is owned by institutional investors.

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.