Rocket Companies, Inc. (NYSE:RKT) Receives Average Recommendation of “Reduce” from Brokerages

Rocket Companies, Inc. (NYSE:RKT – Get Free Report) has been assigned a consensus recommendation of “Reduce” from the twelve research firms that are covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a sell rating and eight have issued a hold rating on the company.

The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $13.83. A number of analysts have recently commented on the company.



Wedbush restated a “neutral” rating and set a $13.00 price objective on shares of Rocket Companies in a report on Wednesday, March 5th. Royal Bank of Canada restated a “sector perform” rating and set a $18.

00 price target on shares of Rocket Companies in a research note on Tuesday. The Goldman Sachs Group reduced their price objective on Rocket Companies from $16.00 to $14.

00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. UBS Group raised shares of Rocket Companies from a “sell” rating to a “neutral” rating and dropped their target price for the stock from $12.50 to $11.

50 in a research report on Friday, January 10th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Rocket Companies from $10.50 to $12.

00 and gave the company an “underperform” rating in a research report on Monday, March 3rd.Get Our Latest Report on RKTRocket Companies Price PerformanceRocket Companies stock opened at $12.57 on Wednesday.

The company has a debt-to-equity ratio of 1.51, a quick ratio of 15.47 and a current ratio of 15.

47. The company has a market cap of $25.08 billion, a price-to-earnings ratio of -78.

53 and a beta of 2.39. Rocket Companies has a 1 year low of $10.

06 and a 1 year high of $21.38. The firm has a 50 day moving average price of $13.

35 and a 200 day moving average price of $14.27. Rocket Companies Cuts DividendThe company also recently declared a dividend, which will be paid on Thursday, April 3rd.

Investors of record on Thursday, March 20th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Thursday, March 20th.

Rocket Companies’s dividend payout ratio (DPR) is 801.25%. Hedge Funds Weigh In On Rocket CompaniesA number of institutional investors and hedge funds have recently added to or reduced their stakes in the company.

Vanguard Group Inc. lifted its stake in shares of Rocket Companies by 3.6% in the fourth quarter.

Vanguard Group Inc. now owns 12,520,074 shares of the company’s stock worth $140,976,000 after acquiring an additional 431,054 shares in the last quarter. Boston Partners increased its holdings in Rocket Companies by 29.

8% during the 4th quarter. Boston Partners now owns 12,313,780 shares of the company’s stock worth $138,673,000 after purchasing an additional 2,829,292 shares during the last quarter. JPMorgan Chase & Co.

raised its position in shares of Rocket Companies by 2.2% in the 4th quarter. JPMorgan Chase & Co.

now owns 8,161,979 shares of the company’s stock valued at $91,904,000 after purchasing an additional 174,978 shares in the last quarter. Nuveen Asset Management LLC boosted its stake in shares of Rocket Companies by 52.7% during the 4th quarter.

Nuveen Asset Management LLC now owns 8,122,148 shares of the company’s stock valued at $91,455,000 after buying an additional 2,804,090 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Rocket Companies by 174.5% during the fourth quarter.

Wellington Management Group LLP now owns 4,705,177 shares of the company’s stock worth $52,980,000 after buying an additional 2,990,837 shares in the last quarter. 4.59% of the stock is owned by hedge funds and other institutional investors.

Rocket Companies Company Profile (Get Free ReportRocket 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.

Read MoreFive stocks we like better than Rocket CompaniesStock Splits, Do They Really Impact Investors?D-Wave: Multiple Use Cases Emerge Following Quantum SupremacyMost active stocks: Dollar volume vs share volumeAmazon Falls Back to a Key Support Line: Here’s How to Play ItTop Stocks Investing in 5G TechnologyBuffett Trims Equities, But Still Keeps Buying This Stock.