Rocket Companies, Inc. (NYSE:RKT) Receives $13.83 Consensus PT from Brokerages

by · The Markets Daily

Shares of Rocket Companies, Inc. (NYSE:RKT – Get Free Report) have received an average recommendation of “Reduce” from the twelve research firms that are covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell recommendation and eight have issued a hold recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $13.83.

Several brokerages have recently commented on RKT. JPMorgan Chase & Co. decreased their target price on Rocket Companies from $14.00 to $10.50 and set an “underweight” rating for the company in a research report on Tuesday, January 14th. The Goldman Sachs Group decreased their target price on Rocket Companies from $16.00 to $14.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. UBS Group raised Rocket Companies from a “sell” rating to a “neutral” rating and decreased their target price for the stock from $12.50 to $11.50 in a research report on Friday, January 10th. Keefe, Bruyette & Woods raised their target price on Rocket Companies from $10.50 to $12.00 and gave the stock an “underperform” rating in a research report on Monday, March 3rd. Finally, Wedbush reaffirmed a “neutral” rating and issued a $13.00 target price on shares of Rocket Companies in a research report on Wednesday, March 5th.

Read Our Latest Stock Report on Rocket Companies

Institutional Trading of Rocket Companies

A number of institutional investors have recently bought and sold shares of RKT. Vanguard Group Inc. raised its holdings in Rocket Companies by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 12,520,074 shares of the company’s stock valued at $140,976,000 after buying an additional 431,054 shares in the last quarter. Boston Partners raised its holdings in Rocket Companies by 29.8% during the fourth quarter. Boston Partners now owns 12,313,780 shares of the company’s stock valued at $138,673,000 after buying an additional 2,829,292 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Rocket Companies by 2.2% during the fourth quarter. JPMorgan Chase & Co. now owns 8,161,979 shares of the company’s stock valued at $91,904,000 after buying an additional 174,978 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in Rocket Companies by 52.7% during the fourth quarter. Nuveen Asset Management LLC now owns 8,122,148 shares of the company’s stock valued at $91,455,000 after buying an additional 2,804,090 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in Rocket Companies by 174.5% during the fourth quarter. Wellington Management Group LLP now owns 4,705,177 shares of the company’s stock valued at $52,980,000 after buying an additional 2,990,837 shares in the last quarter. Institutional investors and hedge funds own 4.59% of the company’s stock.

Rocket Companies Stock Performance

RKT opened at $14.86 on Friday. The firm has a market cap of $29.65 billion, a PE ratio of -92.84 and a beta of 2.39. The company has a quick ratio of 15.47, a current ratio of 15.47 and a debt-to-equity ratio of 1.51. The business has a fifty day simple moving average of $12.70 and a 200-day simple moving average of $14.81. Rocket Companies has a fifty-two week low of $10.06 and a fifty-two week high of $21.38.

Rocket Companies Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 20th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Thursday, March 20th. Rocket Companies’s payout ratio is 801.25%.

Rocket Companies Company Profile

(Get Free Report

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.

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