Rocket Companies, Inc. (NYSE:RKT) Receives Consensus Recommendation of “Reduce” from Brokerages

Rocket Companies, Inc. (NYSE:RKT) has been assigned a consensus recommendation of “Reduce” from the twelve brokerages that are currently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a sell recommendation and eight have assigned a hold recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $13.83.

A number of brokerages recently weighed in on RKT. Barclays reduced their target price on shares of Rocket Companies from $14.00 to $13.00 and set an “underweight” rating for the company in a report on Wednesday, November 13th. Royal Bank of Canada cut their target price on Rocket Companies from $20.00 to $18.00 and set a “sector perform” rating on the stock in a research report on Wednesday, November 13th. Morgan Stanley reduced 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. JPMorgan Chase & Co. dropped their price target on Rocket Companies from $14.00 to $10.50 and set an “underweight” rating on the stock in a research note on Tuesday, January 14th. Finally, Wedbush restated a “neutral” rating and set a $13.00 price objective on shares of Rocket Companies in a report on Wednesday.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RKT. Capital Performance Advisors LLP acquired a new stake in shares of Rocket Companies during the 3rd quarter valued at $39,000. Itau Unibanco Holding S.A. purchased a new stake in shares of Rocket Companies during the fourth quarter worth $47,000. KBC Group NV boosted its position in Rocket Companies by 58.1% during the fourth quarter. KBC Group NV now owns 6,056 shares of the company’s stock valued at $68,000 after purchasing an additional 2,226 shares during the last quarter. Sterling Capital Management LLC boosted its position 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 purchasing an additional 3,019 shares during the last quarter. Finally, Caisse Des Depots ET Consignations purchased a new position in Rocket Companies in the fourth quarter valued at about $99,000. 4.59% of the stock is owned by hedge funds and other institutional investors.

Rocket Companies Price Performance

Shares of Rocket Companies stock opened at $15.76 on Friday. Rocket Companies has a 52 week low of $10.06 and a 52 week high of $21.38. The company has a current ratio of 15.47, a quick ratio of 15.47 and a debt-to-equity ratio of 1.51. The stock has a market cap of $31.43 billion, a PE ratio of -98.47 and a beta of 2.39. The company’s 50-day moving average price is $12.41 and its two-hundred day moving average price is $15.02.

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.