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

Rocket Companies (NYSE:RKT)‘s stock had its “neutral” rating reissued by equities researchers at Wedbush in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $13.00 price target on the stock. Wedbush’s price objective points to a potential downside of 8.09% from the company’s previous close.

A number of other brokerages also recently weighed in on RKT. Barclays lowered their price objective on shares of Rocket Companies from $14.00 to $13.00 and set an “underweight” rating on the stock in a research report on Wednesday, November 13th. Morgan Stanley lowered their price target on Rocket Companies from $16.00 to $13.00 and set an “equal weight” rating on the stock in a report on Thursday, December 19th. JPMorgan Chase & Co. cut their price objective on Rocket Companies from $14.00 to $10.50 and set an “underweight” rating for the company in a report on Tuesday, January 14th. Piper Sandler lowered their target price on Rocket Companies from $17.00 to $16.00 and set a “neutral” rating on the stock in a report on Thursday, November 14th. Finally, Royal Bank of Canada cut their price target on Rocket Companies from $20.00 to $18.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 13th. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $13.83.

Rocket Companies Stock Performance

Shares of NYSE:RKT traded up $0.71 during midday trading on Wednesday, reaching $14.15. 1,892,225 shares of the company’s stock traded hands, compared to its average volume of 3,028,251. The company has a debt-to-equity ratio of 1.51, a quick ratio of 15.47 and a current ratio of 15.47. Rocket Companies has a one year low of $10.06 and a one year high of $21.38. The company has a market cap of $28.22 billion, a price-to-earnings ratio of -88.48 and a beta of 2.43. The stock has a 50 day moving average of $12.16 and a 200 day moving average of $15.05.

Institutional Investors Weigh In On Rocket Companies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RKT. Capital Performance Advisors LLP purchased a new stake in shares of Rocket Companies in the third quarter worth $39,000. Itau Unibanco Holding S.A. bought a new position in Rocket Companies in the 4th quarter worth $47,000. KBC Group NV increased its stake in Rocket Companies by 58.1% in the 4th quarter. KBC Group NV now owns 6,056 shares of the company’s stock worth $68,000 after buying an additional 2,226 shares in the last quarter. Sterling Capital Management LLC raised its holdings in Rocket Companies by 57.2% during the fourth quarter. Sterling Capital Management LLC now owns 8,295 shares of the company’s stock valued at $93,000 after acquiring an additional 3,019 shares during the period. Finally, Caisse Des Depots ET Consignations purchased a new position in shares of Rocket Companies in the fourth quarter valued at about $99,000. Institutional investors own 4.59% of the company’s stock.

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.