Rocket Companies (NYSE:RKT) Given New $13.00 Price Target at Barclays

Rocket Companies (NYSE:RKT) had its price target trimmed by Barclays from $14.00 to $13.00 in a research note published on Wednesday,Benzinga reports. The brokerage currently has an underweight rating on the stock.

Several other equities analysts have also recently weighed in on RKT. Bank of America raised their target price on shares of Rocket Companies from $12.00 to $14.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. Wells Fargo & Company lifted their price target on Rocket Companies from $13.00 to $15.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. UBS Group increased their price objective on shares of Rocket Companies from $11.50 to $14.00 and gave the company a “sell” rating in a research note on Monday, September 16th. Royal Bank of Canada lifted their price target on Rocket Companies from $16.00 to $20.00 and gave the company a “sector perform” rating in a research note on Wednesday, September 11th. Finally, JPMorgan Chase & Co. increased their price objective on Rocket Companies from $15.00 to $19.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Five investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $15.17.

Rocket Companies Stock Down 1.9 %

NYSE RKT traded down $0.27 during trading on Wednesday, hitting $13.86. The stock had a trading volume of 377,395 shares, compared to its average volume of 2,878,063. The company has a market capitalization of $27.57 billion, a PE ratio of -88.31 and a beta of 2.46. Rocket Companies has a 12 month low of $8.81 and a 12 month high of $21.38. The company’s 50-day moving average price is $17.78 and its two-hundred day moving average price is $16.27. The company has a debt-to-equity ratio of 1.27, a quick ratio of 13.18 and a current ratio of 13.18.

Institutional Trading of Rocket Companies

A number of large investors have recently bought and sold shares of the company. Swiss National Bank grew its stake in shares of Rocket Companies by 4.1% during the 1st quarter. Swiss National Bank now owns 237,000 shares of the company’s stock worth $3,448,000 after acquiring an additional 9,300 shares during the period. Jacobs Levy Equity Management Inc. bought a new stake in shares of Rocket Companies during the 1st quarter valued at $2,698,000. Raymond James & Associates lifted its holdings in Rocket Companies by 48.7% during the 3rd quarter. Raymond James & Associates now owns 300,612 shares of the company’s stock worth $5,769,000 after purchasing an additional 98,397 shares in the last quarter. Philip James Wealth Mangement LLC bought a new position in Rocket Companies in the 3rd quarter worth about $6,811,000. Finally, Boston Partners lifted its holdings 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 worth $136,462,000 after buying an additional 381,841 shares in the last quarter. 4.59% of the stock is owned by hedge funds and other institutional investors.

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.