Rocket Companies (NYSE:RKT) Earns “Sector Perform” Rating from Royal Bank of Canada

Rocket Companies (NYSE:RKT)‘s stock had its “sector perform” rating reiterated by research analysts at Royal Bank of Canada in a research note issued on Tuesday,Benzinga reports. They presently have a $18.00 price target on the stock. Royal Bank of Canada’s price objective points to a potential upside of 41.38% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. The Goldman Sachs Group cut their price objective on shares of Rocket Companies from $16.00 to $14.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Keefe, Bruyette & Woods lifted their price objective on shares of Rocket Companies from $10.50 to $12.00 and gave the stock an “underperform” rating in a report on Monday, March 3rd. Wedbush reiterated a “neutral” rating and set a $13.00 price objective on shares of Rocket Companies in a research note on Wednesday, March 5th. UBS Group raised shares of Rocket Companies from a “sell” rating to a “neutral” rating and reduced their price target for the company from $12.50 to $11.50 in a report on Friday, January 10th. Finally, JPMorgan Chase & Co. decreased their price target on Rocket Companies from $14.00 to $10.50 and set an “underweight” rating for the company in a research note on Tuesday, January 14th. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to data from MarketBeat.com, Rocket Companies has a consensus rating of “Hold” and a consensus target price of $13.83.

Rocket Companies Trading Up 5.5 %

Shares of RKT traded up $0.66 during trading hours on Tuesday, hitting $12.73. The stock had a trading volume of 10,787,135 shares, compared to its average volume of 3,733,560. The firm has a market cap of $25.42 billion, a P/E ratio of -79.84 and a beta of 2.39. Rocket Companies has a 12-month low of $10.06 and a 12-month high of $21.38. The company has a debt-to-equity ratio of 1.51, a quick ratio of 15.47 and a current ratio of 15.47. The company’s fifty day simple moving average is $13.34 and its 200 day simple moving average is $14.32.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP grew its stake in shares of Rocket Companies by 174.5% in the fourth quarter. Wellington Management Group LLP now owns 4,705,177 shares of the company’s stock valued at $52,980,000 after buying an additional 2,990,837 shares in the last quarter. Boston Partners lifted its position in shares of Rocket Companies by 29.8% during the 4th quarter. Boston Partners now owns 12,313,780 shares of the company’s stock worth $138,673,000 after buying an additional 2,829,292 shares during the last quarter. Nuveen Asset Management LLC boosted its position in Rocket Companies by 52.7% in the fourth quarter. Nuveen Asset Management LLC now owns 8,122,148 shares of the company’s stock valued at $91,455,000 after buying an additional 2,804,090 shares in the last quarter. State Street Corp grew its holdings in shares of Rocket Companies by 44.7% during the third quarter. State Street Corp now owns 4,108,189 shares of the company’s stock worth $78,836,000 after purchasing an additional 1,269,795 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in shares of Rocket Companies in the fourth quarter worth $14,113,000. Institutional investors and hedge funds own 4.59% of the company’s stock.

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.