Rocket Companies (NYSE:RKT – Get Free Report) had its price objective lowered by investment analysts at Keefe, Bruyette & Woods from $20.00 to $16.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 13.23% from the stock’s previous close.
Other equities analysts have also issued reports about the stock. Piper Sandler lowered their price objective on shares of Rocket Companies from $17.00 to $16.00 and set a “neutral” rating on the stock in a research report on Thursday. Bank of America boosted their price target on shares of Rocket Companies from $12.00 to $14.00 and gave the stock an “underperform” rating in a research note on Thursday, August 29th. JPMorgan Chase & Co. raised their price objective on shares of Rocket Companies from $15.00 to $19.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Wedbush reiterated a “neutral” rating and set a $13.00 target price (down previously from $18.00) on shares of Rocket Companies in a research report on Wednesday. Finally, Morgan Stanley initiated coverage on Rocket Companies in a report on Tuesday, November 5th. They issued an “equal weight” rating and a $18.00 price target for the company. Five equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat.com, Rocket Companies presently has a consensus rating of “Hold” and a consensus target price of $15.17.
Get Our Latest Stock Analysis on RKT
Rocket Companies Stock Down 9.1 %
Institutional Investors Weigh In On Rocket Companies
A number of large investors have recently added to or reduced their stakes in the business. Marshall Wace LLP purchased a new stake in shares of Rocket Companies in the second quarter valued at about $10,811,000. Renaissance Technologies LLC increased its position in Rocket Companies by 26.1% during the second quarter. Renaissance Technologies LLC now owns 2,468,700 shares of the company’s stock worth $33,821,000 after buying an additional 510,400 shares in the last quarter. Boston Partners raised 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 acquiring an additional 381,841 shares during the last quarter. Philip James Wealth Mangement LLC acquired a new position in shares of Rocket Companies in the third quarter worth $6,811,000. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Rocket Companies during the third quarter valued at $3,655,000. 4.59% of the stock is 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.
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