Brokerages Set Rocket Companies, Inc. (NYSE:RKT) PT at $14.38

Rocket Companies, Inc. (NYSE:RKT) has earned an average recommendation of “Hold” from the twelve research firms that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $14.38.

A number of analysts recently weighed in on RKT shares. JPMorgan Chase & Co. lowered their price target on shares of Rocket Companies from $14.00 to $10.50 and set an “underweight” rating for the company in a report on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft raised Rocket Companies from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Wednesday, April 2nd. Barclays upgraded Rocket Companies from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $10.00 to $14.00 in a research report on Tuesday, April 8th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $18.00 price target on shares of Rocket Companies in a report on Tuesday, April 1st. Finally, Keefe, Bruyette & Woods boosted their price objective on Rocket Companies from $14.00 to $15.00 and gave the stock a “market perform” rating in a report on Tuesday, April 8th.

Rocket Companies Trading Down 1.1 %

RKT opened at $12.64 on Friday. Rocket Companies has a 1-year low of $10.06 and a 1-year high of $21.38. The stock has a market capitalization of $25.23 billion, a PE ratio of -79.00 and a beta of 2.35. The company has a current ratio of 15.47, a quick ratio of 15.47 and a debt-to-equity ratio of 1.51. The firm has a 50-day moving average price of $13.39 and a two-hundred day moving average price of $13.31.

Rocket Companies Cuts Dividend

The business also recently announced a dividend, which was paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Thursday, March 20th. Rocket Companies’s payout ratio is currently 801.25%.

Institutional Trading of Rocket Companies

A number of hedge funds have recently modified their holdings of the company. Mather Group LLC. increased its stake in Rocket Companies by 312.2% in the first quarter. Mather Group LLC. now owns 2,601 shares of the company’s stock valued at $31,000 after purchasing an additional 1,970 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Rocket Companies by 302.2% in the 1st quarter. Parallel Advisors LLC now owns 2,956 shares of the company’s stock valued at $36,000 after buying an additional 2,221 shares during the period. Itau Unibanco Holding S.A. bought a new stake in shares of Rocket Companies in the 4th quarter valued at $47,000. GAMMA Investing LLC raised its stake in Rocket Companies by 82.4% during the 1st quarter. GAMMA Investing LLC now owns 3,905 shares of the company’s stock worth $47,000 after buying an additional 1,764 shares during the period. Finally, Signaturefd LLC lifted its holdings in Rocket Companies by 147.1% during the first quarter. Signaturefd LLC now owns 4,372 shares of the company’s stock worth $53,000 after acquiring an additional 2,603 shares in the last quarter. 4.59% of the stock is currently owned by institutional investors and hedge funds.

About Rocket Companies

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.