Rocket Companies, Inc. (NYSE:RKT) Receives $14.38 Average PT from Analysts

Rocket Companies, Inc. (NYSE:RKT - Get Free Report) has received a consensus recommendation of "Hold" from the twelve research firms that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $14.38.

Several analysts have recently weighed in on the stock. Barclays upgraded shares of Rocket Companies from an "underweight" rating to an "equal weight" rating and lifted their price objective for the company from $10.00 to $14.00 in a research note on Tuesday, April 8th. The Goldman Sachs Group reduced their target price on Rocket Companies from $16.00 to $14.00 and set a "neutral" rating for the company in a research note on Tuesday, January 7th. Wedbush reaffirmed an "outperform" rating and set a $13.00 price target on shares of Rocket Companies in a research note on Wednesday, April 16th. Royal Bank of Canada reissued a "sector perform" rating and issued a $18.00 price objective on shares of Rocket Companies in a research note on Tuesday, April 1st. Finally, UBS Group lowered their target price on Rocket Companies from $14.00 to $13.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th.

Rocket Companies Price Performance

RKT stock traded up $0.10 during midday trading on Friday, reaching $13.01. 1,268,532 shares of the stock were exchanged, compared to its average volume of 8,100,927. The company has a debt-to-equity ratio of 1.51, a current ratio of 15.47 and a quick ratio of 15.47. The stock has a market capitalization of $25.96 billion, a PE ratio of -81.28 and a beta of 2.35. Rocket Companies has a 52 week low of $10.06 and a 52 week high of $21.38. The company has a fifty day moving average price of $13.42 and a 200 day moving average price of $13.42.

Rocket Companies Cuts Dividend

The company also recently disclosed a dividend, which was paid on Thursday, April 3rd. Shareholders of record on Thursday, March 20th were given a $0.80 dividend. The ex-dividend date was Thursday, March 20th. Rocket Companies's payout ratio is 801.25%.

Hedge Funds Weigh In On Rocket Companies

Several institutional investors have recently modified their holdings of the business. Cetera Investment Advisers boosted 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 purchasing an additional 936 shares during the last quarter. Vident Advisory LLC grew its position in Rocket Companies by 3.6% during the fourth quarter. Vident Advisory LLC now owns 30,798 shares of the company's stock valued at $347,000 after buying an additional 1,078 shares during the period. GAMMA Investing LLC increased its holdings in Rocket Companies by 82.4% during the first quarter. GAMMA Investing LLC now owns 3,905 shares of the company's stock worth $47,000 after buying an additional 1,764 shares during the last quarter. Mather Group LLC. raised its position in Rocket Companies by 312.2% in the first quarter. Mather Group LLC. now owns 2,601 shares of the company's stock worth $31,000 after acquiring an additional 1,970 shares during the period. Finally, Parallel Advisors LLC boosted its stake in Rocket Companies by 302.2% in the first quarter. Parallel Advisors LLC now owns 2,956 shares of the company's stock valued at $36,000 after acquiring an additional 2,221 shares during the last quarter. 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.