Rocket Companies, Inc. (NYSE:RKT) Given Consensus Recommendation of “Hold” by Analysts

Rocket Companies, Inc. (NYSE:RKT) has received a consensus recommendation of “Hold” from the sixteen research firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $20.50.

A number of equities analysts recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Rocket Companies in a research note on Friday, December 19th. They issued a “buy” rating and a $25.00 price target on the stock. JPMorgan Chase & Co. assumed coverage on shares of Rocket Companies in a report on Monday, January 12th. They issued a “neutral” rating and a $24.00 target price for the company. Keefe, Bruyette & Woods upped their target price on shares of Rocket Companies from $18.00 to $20.00 and gave the stock a “market perform” rating in a research note on Thursday, December 18th. BTIG Research reissued a “buy” rating and set a $25.00 price target on shares of Rocket Companies in a research report on Wednesday, November 19th. Finally, Wall Street Zen cut Rocket Companies from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th.

Rocket Companies Trading Down 2.1%

Rocket Companies stock opened at $17.97 on Friday. Rocket Companies has a 12 month low of $10.94 and a 12 month high of $24.36. The company has a market capitalization of $37.81 billion, a price-to-earnings ratio of 224.59 and a beta of 2.31. The business’s fifty day simple moving average is $20.10 and its two-hundred day simple moving average is $18.92. The company has a current ratio of 19.68, a quick ratio of 19.68 and a debt-to-equity ratio of 2.16.

Insider Activity at Rocket Companies

In related news, Director Matthew Rizik sold 2,500 shares of Rocket Companies stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $22.99, for a total value of $57,475.00. Following the completion of the sale, the director directly owned 1,038,536 shares in the company, valued at approximately $23,875,942.64. This trade represents a 0.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 35,000 shares of company stock worth $694,000 over the last 90 days. Company insiders own 92.64% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of RKT. Brooktree Capital Management lifted its position in shares of Rocket Companies by 27.5% in the third quarter. Brooktree Capital Management now owns 148,653 shares of the company’s stock worth $2,881,000 after buying an additional 32,088 shares in the last quarter. Cibc World Market Inc. bought a new stake in Rocket Companies in the 3rd quarter worth approximately $2,689,000. Udine Wealth Management Inc. increased its stake in Rocket Companies by 86.1% in the 3rd quarter. Udine Wealth Management Inc. now owns 168,070 shares of the company’s stock worth $3,257,000 after acquiring an additional 77,736 shares during the last quarter. Clifford Capital Partners LLC purchased a new stake in shares of Rocket Companies during the 2nd quarter worth approximately $11,487,000. Finally, Thames Capital Management LLC grew its holdings in shares of Rocket Companies by 54.3% in the third quarter. Thames Capital Management LLC now owns 1,106,003 shares of the company’s stock valued at $21,434,000 after purchasing an additional 389,101 shares in the last quarter. Hedge funds and other institutional investors own 4.59% of the company’s stock.

Rocket Companies Company Profile

Rocket Companies, Inc is a Detroit-based holding company whose businesses are centered on digital mortgage origination and related consumer finance and real estate services. The company grew out of the Quicken Loans franchise and completed an initial public offering in 2020. Founder Dan Gilbert remains a prominent figure associated with the firm, which operates a suite of brands that aim to simplify the home financing and buying experience through technology and scale.

The company’s core activity is mortgage lending through its Rocket Mortgage platform, which offers online application, underwriting and servicing for home purchase and refinance loans.