Rocket Companies’ (RKT) “Neutral” Rating Reiterated at Wedbush

Wedbush reissued their neutral rating on shares of Rocket Companies (NYSE:RKT) in a research report released on Wednesday morning,RTT News reports. Wedbush currently has a $13.00 price target on the stock, down from their previous price target of $18.00.

Other research analysts have also issued reports about the stock. Barclays raised their price objective on shares of Rocket Companies from $10.00 to $14.00 and gave the stock an “underweight” rating in a report on Tuesday, October 8th. Royal Bank of Canada lifted their target price on Rocket Companies from $16.00 to $20.00 and gave the stock a “sector perform” rating in a research report on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft raised their price objective on Rocket Companies from $11.00 to $15.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Keefe, Bruyette & Woods upgraded shares of Rocket Companies from an “underperform” rating to a “market perform” rating in a research note on Monday, August 5th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Rocket Companies from $15.00 to $19.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Five investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $15.17.

Rocket Companies Stock Down 1.9 %

Shares of NYSE RKT traded down $0.27 during midday trading on Wednesday, reaching $13.86. 377,395 shares of the company’s stock were exchanged, compared to its average volume of 2,878,063. The stock has a market capitalization of $27.57 billion, a PE ratio of -88.31 and a beta of 2.46. Rocket Companies has a 52-week low of $8.81 and a 52-week high of $21.38. The company has a debt-to-equity ratio of 1.27, a quick ratio of 13.18 and a current ratio of 13.18. The business’s fifty day moving average price is $17.78 and its two-hundred day moving average price is $16.27.

Hedge Funds Weigh In On Rocket Companies

Several institutional investors and hedge funds have recently modified their holdings of the stock. Lakeshore Financial Planning Inc. grew its stake in Rocket Companies by 8.0% in the second quarter. Lakeshore Financial Planning Inc. now owns 13,496 shares of the company’s stock valued at $185,000 after purchasing an additional 1,000 shares in the last quarter. Wedmont Private Capital grew its stake in shares of Rocket Companies by 8.9% in the 3rd quarter. Wedmont Private Capital now owns 15,937 shares of the company’s stock valued at $279,000 after buying an additional 1,305 shares in the last quarter. Arizona State Retirement System increased its holdings in Rocket Companies by 6.0% in the second quarter. Arizona State Retirement System now owns 34,974 shares of the company’s stock worth $479,000 after buying an additional 1,979 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in Rocket Companies in the third quarter worth approximately $39,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Rocket Companies by 7.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,217 shares of the company’s stock valued at $428,000 after purchasing an additional 2,064 shares in the last quarter. 4.59% of the stock is currently owned by hedge funds and other 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.