Rocket Companies (NYSE:RKT) PT Set at $8.00 by UBS Group

Rocket Companies (NYSE:RKTGet Rating) received a $8.00 target price from research analysts at UBS Group in a research report issued to clients and investors on Wednesday, Stock Target Advisor reports. UBS Group’s target price indicates a potential upside of 3.23% from the company’s current price.

A number of other brokerages have also issued reports on RKT. Argus lowered shares of Rocket Companies from a “hold” rating to a “sell” rating in a research report on Wednesday, November 16th. Piper Sandler reduced their target price on shares of Rocket Companies from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, September 30th. Wells Fargo & Company cut their price objective on shares of Rocket Companies from $10.00 to $7.00 and set an “overweight” rating on the stock in a report on Friday, November 4th. Keefe, Bruyette & Woods lowered shares of Rocket Companies from a “market perform” rating to an “underperform” rating and set a $6.50 price objective on the stock. in a report on Sunday, August 7th. Finally, Citigroup increased their price objective on shares of Rocket Companies to $10.00 in a report on Tuesday, August 9th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $7.65.

Rocket Companies Price Performance

Shares of RKT stock opened at $7.75 on Wednesday. Rocket Companies has a 1 year low of $5.97 and a 1 year high of $16.65. The firm’s 50 day moving average is $6.96 and its 200-day moving average is $8.04. The firm has a market capitalization of $15.27 billion, a price-to-earnings ratio of 9.94 and a beta of 1.74. The company has a current ratio of 11.69, a quick ratio of 11.69 and a debt-to-equity ratio of 1.09.

Insider Buying and Selling at Rocket Companies

In other news, CEO Jay Farner bought 24,000 shares of the stock in a transaction on Monday, August 29th. The stock was purchased at an average price of $8.33 per share, with a total value of $199,920.00. Following the completion of the purchase, the chief executive officer now owns 3,821,107 shares of the company’s stock, valued at $31,829,821.31. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders bought 985,700 shares of company stock valued at $6,860,223. Corporate insiders own 94.01% of the company’s stock.

Institutional Investors Weigh In On Rocket Companies

Large investors have recently made changes to their positions in the stock. Castle Wealth Management LLC bought a new stake in shares of Rocket Companies during the second quarter worth $25,000. Ancora Advisors LLC bought a new stake in shares of Rocket Companies during the first quarter worth $81,000. FMR LLC increased its position in shares of Rocket Companies by 134.7% during the second quarter. FMR LLC now owns 3,598 shares of the company’s stock worth $26,000 after acquiring an additional 2,065 shares in the last quarter. US Bancorp DE increased its position in shares of Rocket Companies by 341.4% during the first quarter. US Bancorp DE now owns 4,414 shares of the company’s stock worth $49,000 after acquiring an additional 3,414 shares in the last quarter. Finally, Captrust Financial Advisors increased its position in shares of Rocket Companies by 178.2% during the second quarter. Captrust Financial Advisors now owns 4,451 shares of the company’s stock worth $33,000 after acquiring an additional 2,851 shares in the last quarter. Institutional investors own 4.16% of the company’s stock.

About Rocket Companies

(Get Rating)

Rocket Companies, Inc engages in the tech-driven real estate, mortgage, and e-Commerce businesses 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; Rocket Auto, an automotive retail marketplace that provides centralized and virtual car sales support to online car purchasing platforms; and Rocket Loans, an online-based personal loans business.

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