Rocket Companies (NYSE:RKT) Raised to “Equal Weight” at Barclays

Rocket Companies (NYSE:RKT) was upgraded by equities researchers at Barclays from an “underweight” rating to an “equal weight” rating in a research report issued to clients and investors on Tuesday, Marketbeat.com reports. The brokerage currently has a $14.00 price objective on the stock, up from their previous price objective of $10.00. Barclays‘s target price would indicate a potential upside of 10.28% from the stock’s current price.

RKT has been the subject of a number of other reports. 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 report on Tuesday, January 14th. The Goldman Sachs Group lowered their price target on Rocket Companies from $16.00 to $14.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Royal Bank of Canada reiterated a “sector perform” rating and set a $18.00 target price on shares of Rocket Companies in a report on Tuesday, April 1st. Keefe, Bruyette & Woods raised Rocket Companies from an “underperform” rating to a “market perform” rating and increased their price target for the stock from $12.00 to $14.00 in a research note on Wednesday, April 2nd. Finally, Deutsche Bank Aktiengesellschaft raised Rocket Companies from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research report on Wednesday, April 2nd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $14.25.

Rocket Companies Trading Down 3.8 %

NYSE:RKT opened at $12.70 on Tuesday. The firm has a market cap of $25.34 billion, a PE ratio of -79.34 and a beta of 2.35. The stock has a fifty day moving average price of $13.54 and a 200 day moving average price of $14.00. Rocket Companies has a 12-month low of $10.06 and a 12-month high of $21.38. The company has a current ratio of 15.47, a quick ratio of 15.47 and a debt-to-equity ratio of 1.51.

Hedge Funds Weigh In On Rocket Companies

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. AXQ Capital LP raised its holdings in Rocket Companies by 125.7% during the fourth quarter. AXQ Capital LP now owns 146,691 shares of the company’s stock worth $1,652,000 after purchasing an additional 81,695 shares in the last quarter. Quantbot Technologies LP increased its position in Rocket Companies by 76.9% during the fourth quarter. Quantbot Technologies LP now owns 270,761 shares of the company’s stock worth $3,049,000 after buying an additional 117,728 shares during the last quarter. Jones Financial Companies Lllp increased its position in Rocket Companies by 131.7% during the fourth quarter. Jones Financial Companies Lllp now owns 36,427 shares of the company’s stock worth $410,000 after buying an additional 20,706 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Rocket Companies by 11.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,163,243 shares of the company’s stock valued at $13,098,000 after acquiring an additional 122,534 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in Rocket Companies by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 12,520,074 shares of the company’s stock valued at $140,976,000 after acquiring an additional 431,054 shares during the period. 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.