Rocket Companies, Inc. (NYSE:RKT – Get Free Report) has earned a consensus rating of “Reduce” from the twelve brokerages that are covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a sell recommendation and seven have issued a hold recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $15.15.
RKT has been the subject of a number of recent research reports. Morgan Stanley initiated coverage on Rocket Companies in a report on Tuesday. They issued an “equal weight” rating and a $18.00 target price for the company. Royal Bank of Canada increased their target price on Rocket Companies from $16.00 to $20.00 and gave the stock a “sector perform” rating in a report on Wednesday, September 11th. Wells Fargo & Company raised their price target on Rocket Companies from $13.00 to $15.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. raised their price target on Rocket Companies from $15.00 to $19.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Finally, Bank of America raised their price target on Rocket Companies from $12.00 to $14.00 and gave the company an “underperform” rating in a report on Thursday, August 29th.
Get Our Latest Research Report on Rocket Companies
Rocket Companies Price Performance
Institutional Trading of Rocket Companies
Hedge funds and other institutional investors have recently modified their holdings of the company. Swiss National Bank raised its stake in shares of Rocket Companies by 4.1% in the 1st quarter. Swiss National Bank now owns 237,000 shares of the company’s stock valued at $3,448,000 after purchasing an additional 9,300 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Rocket Companies in the first quarter valued at about $2,698,000. Raymond James & Associates increased its position in shares of Rocket Companies by 48.7% in the third quarter. Raymond James & Associates now owns 300,612 shares of the company’s stock valued at $5,769,000 after acquiring an additional 98,397 shares during the last quarter. Boston Partners increased its position in shares of Rocket Companies by 4.2% in the first quarter. Boston Partners now owns 9,382,173 shares of the company’s stock valued at $136,462,000 after acquiring an additional 381,841 shares during the last quarter. Finally, Bleakley Financial Group LLC acquired a new stake in shares of Rocket Companies in the third quarter valued at about $196,000. Institutional investors and hedge funds own 4.59% of the company’s stock.
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.
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