Rocket Companies (NYSE:RKT – Get Rating) was upgraded by stock analysts at Keefe, Bruyette & Woods from an “underperform” rating to a “market perform” rating in a research note issued to investors on Sunday, The Fly reports.
A number of other research analysts also recently commented on the stock. Royal Bank of Canada lowered their price target on shares of Rocket Companies from $18.00 to $9.00 in a report on Thursday. The Goldman Sachs Group decreased their price objective 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. Citigroup downgraded shares of Rocket Companies from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $14.00 to $8.00 in a research note on Wednesday. Zacks Investment Research downgraded shares of Rocket Companies from a “hold” rating to a “strong sell” rating in a research note on Wednesday, March 2nd. Finally, Credit Suisse Group decreased their price objective 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. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $14.18.
Shares of NYSE:RKT traded up $0.18 during trading on Friday, reaching $8.11. The company’s stock had a trading volume of 5,714,300 shares, compared to its average volume of 5,269,973. The company has a current ratio of 13.54, a quick ratio of 21.68 and a debt-to-equity ratio of 1.40. Rocket Companies has a 12 month low of $6.91 and a 12 month high of $22.68. The firm’s 50 day simple moving average is $9.87 and its two-hundred day simple moving average is $12.84. The stock has a market capitalization of $15.98 billion, a PE ratio of 4.89, a price-to-earnings-growth ratio of 0.99 and a beta of 1.39.
In other Rocket Companies news, CEO Jay Farner acquired 13,100 shares of Rocket Companies stock in a transaction that occurred on Friday, April 1st. The stock was bought at an average price of $11.04 per share, with a total value of $144,624.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders purchased 385,900 shares of company stock valued at $3,538,442 in the last quarter. 93.20% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of the stock. Gainplan LLC raised its stake in Rocket Companies by 4.7% in the third quarter. Gainplan LLC now owns 16,174 shares of the company’s stock worth $251,000 after buying an additional 726 shares in the last quarter. Sage Private Wealth Group LLC raised its stake in Rocket Companies by 20.7% in the fourth quarter. Sage Private Wealth Group LLC now owns 7,055 shares of the company’s stock worth $98,000 after buying an additional 1,211 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in Rocket Companies by 7.6% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 17,689 shares of the company’s stock worth $197,000 after buying an additional 1,250 shares in the last quarter. Toronto Dominion Bank raised its stake in Rocket Companies by 35.9% in the third quarter. Toronto Dominion Bank now owns 6,390 shares of the company’s stock worth $102,000 after buying an additional 1,687 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC raised its stake in Rocket Companies by 111.6% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 3,640 shares of the company’s stock worth $58,000 after buying an additional 1,920 shares in the last quarter. 3.71% of the stock is owned by institutional investors.
Rocket Companies Company Profile (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.
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