Rocket Companies, Inc. (NYSE:RKT)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $21.31, but opened at $22.09. Rocket Companies shares last traded at $22.00, with a volume of 126,308 shares traded.
Several equities research analysts have recently commented on the stock. Jefferies Financial Group decreased their target price on shares of Rocket Companies from $30.00 to $26.00 in a research report on Thursday, May 6th. The Goldman Sachs Group cut their price target on shares of Rocket Companies from $23.00 to $18.50 and set a “neutral” rating on the stock in a report on Friday, May 7th. Bank of America restated a “neutral” rating and set a $24.00 price target (down from $27.00) on shares of Rocket Companies in a report on Tuesday, April 27th. Argus started coverage on shares of Rocket Companies in a report on Tuesday. They set a “buy” rating and a $23.00 price target on the stock. Finally, Zacks Investment Research cut shares of Rocket Companies from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 18th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company’s stock. Rocket Companies currently has a consensus rating of “Hold” and a consensus target price of $23.53.
The firm has a market cap of $40.90 billion and a P/E ratio of 6.46. The company has a quick ratio of 20.92, a current ratio of 20.92 and a debt-to-equity ratio of 2.22. The firm’s 50 day moving average is $20.28.
Institutional investors have recently bought and sold shares of the stock. Gables Capital Management Inc. bought a new stake in Rocket Companies during the 1st quarter worth approximately $28,000. Elkhorn Partners Limited Partnership bought a new stake in Rocket Companies during the 4th quarter worth approximately $30,000. Meridian Wealth Partners LLC bought a new stake in Rocket Companies during the 1st quarter worth approximately $37,000. Capital Asset Advisory Services LLC bought a new stake in Rocket Companies during the 4th quarter worth approximately $39,000. Finally, Ellevest Inc. bought a new stake in Rocket Companies during the 1st quarter worth approximately $40,000. 3.70% of the stock is currently owned by institutional investors and hedge funds.
About Rocket Companies (NYSE:RKT)
Rocket Companies, Inc engages in the tech-driven real estate, mortgage, and eCommerce businesses in the United States and Canada. It operates in 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 national car rental and online car purchasing platforms; and Rocket Loans, an online-based personal loans business.
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