Rocket Companies (NYSE:RKT) Research Coverage Started at Morgan Stanley

Morgan Stanley initiated coverage on shares of Rocket Companies (NYSE:RKT) in a report released on Tuesday morning. The firm issued an equal weight rating and a $18.00 target price on the stock.

Other research analysts have also recently issued reports about the company. Keefe, Bruyette & Woods raised Rocket Companies from an “underperform” rating to a “market perform” rating in a research note on Monday, August 5th. Wedbush boosted their price objective on Rocket Companies from $15.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft increased their target price on Rocket Companies from $11.00 to $15.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. lifted their price target on shares of Rocket Companies from $15.00 to $19.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Finally, Barclays increased their price objective on shares of Rocket Companies from $10.00 to $14.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 8th. Five investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $15.15.

Rocket Companies Trading Up 2.2 %

RKT opened at $16.10 on Tuesday. Rocket Companies has a twelve month low of $7.85 and a twelve month high of $21.38. The firm has a market cap of $32.03 billion, a PE ratio of 230.00 and a beta of 2.46. The company has a debt-to-equity ratio of 1.27, a quick ratio of 13.18 and a current ratio of 13.18. The firm’s fifty day moving average is $18.20 and its two-hundred day moving average is $16.16.

Hedge Funds Weigh In On Rocket Companies

Large investors have recently modified their holdings of the business. Marshall Wace LLP acquired a new position in Rocket Companies during the second quarter valued at approximately $10,811,000. Renaissance Technologies LLC boosted its holdings in shares of Rocket Companies by 26.1% in the 2nd quarter. Renaissance Technologies LLC now owns 2,468,700 shares of the company’s stock valued at $33,821,000 after buying an additional 510,400 shares during the last quarter. Boston Partners grew its stake 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 buying an additional 381,841 shares in the last quarter. Philip James Wealth Mangement LLC acquired a new position in Rocket Companies during the third quarter worth $6,811,000. Finally, Los Angeles Capital Management LLC bought a new stake in Rocket Companies during the third quarter worth $3,655,000. 4.59% of the stock is currently owned by institutional investors and hedge funds.

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.