Rocket Companies (NYSE:RKT – Get Rating) had its target price lowered by stock analysts at Barclays from $14.00 to $13.00 in a report issued on Tuesday, The Fly reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s target price indicates a potential upside of 35.42% from the stock’s previous close.
Other equities research analysts have also recently issued research reports about the stock. Morgan Stanley reduced their target price on shares of Rocket Companies from $12.00 to $11.00 and set an “equal weight” rating for the company in a research note on Thursday, April 7th. Credit Suisse Group reduced their target price on shares of Rocket Companies from $16.00 to $13.00 and set a “neutral” rating for the company in a research note on Friday, February 25th. The Goldman Sachs Group reduced their target price on shares of Rocket Companies from $14.00 to $11.50 and set a “neutral” rating for the company in a research note on Monday, April 4th. Piper Sandler reduced their target price on shares of Rocket Companies from $19.00 to $18.00 in a research note on Wednesday, January 5th. Finally, Wedbush upgraded shares of Rocket Companies from an “underperform” rating to a “neutral” rating and set a $14.00 price target for the company in a research note on Monday, January 3rd. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $15.46.
RKT stock opened at $9.60 on Tuesday. The company has a debt-to-equity ratio of 1.92, a current ratio of 21.68 and a quick ratio of 21.68. Rocket Companies has a 52-week low of $9.36 and a 52-week high of $23.33. The company has a 50-day moving average of $11.52 and a two-hundred day moving average of $13.97. The stock has a market capitalization of $19.05 billion, a price-to-earnings ratio of 4.12, a price-to-earnings-growth ratio of 0.91 and a beta of 1.31.
In other Rocket Companies news, CEO Jay Farner bought 8,900 shares of the company’s stock in a transaction on Wednesday, March 30th. The stock was bought at an average price of $11.20 per share, for a total transaction of $99,680.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have acquired a total of 111,600 shares of company stock valued at $1,141,378 in the last quarter. Corporate insiders own 93.20% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. boosted its stake in Rocket Companies by 17.9% in the 4th quarter. BlackRock Inc. now owns 6,505,694 shares of the company’s stock worth $91,081,000 after purchasing an additional 988,019 shares during the period. Wells Fargo & Company MN boosted its stake in Rocket Companies by 52.5% in the 4th quarter. Wells Fargo & Company MN now owns 221,279 shares of the company’s stock worth $3,098,000 after purchasing an additional 76,173 shares during the period. Virtu Financial LLC acquired a new position in Rocket Companies in the 4th quarter worth $1,817,000. Amalgamated Bank acquired a new position in Rocket Companies in the 4th quarter worth $171,000. Finally, Belpointe Asset Management LLC boosted its stake in Rocket Companies by 32.8% in the 4th quarter. Belpointe Asset Management LLC now owns 129,403 shares of the company’s stock worth $1,811,000 after purchasing an additional 31,980 shares during the period. 3.74% of the stock is owned by institutional investors.
About Rocket Companies (Get Rating)
Rocket Companies, Inc engages in the tech-driven real estate, mortgage, and e-Commerce businesses 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; Rocket Auto, an automotive retail marketplace that provides centralized and virtual car sales support to online car purchasing platforms; and Rocket Loans, an online-based personal loans business.
- Get a free copy of the StockNews.com research report on Rocket Companies (RKT)
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