Rocket Companies (NYSE:RKT) Now Covered by Morgan Stanley

Equities research analysts at Morgan Stanley began coverage on shares of Rocket Companies (NYSE:RKT) in a report released on Tuesday, StockNewsAPI reports. The firm set an “equal weight” rating and a $18.00 price target on the stock. Morgan Stanley’s price objective suggests a potential upside of 11.66% from the stock’s current price.

A number of other brokerages have also recently commented on RKT. Bank of America upped their price target on Rocket Companies from $12.00 to $14.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Rocket Companies from $11.00 to $15.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Wells Fargo & Company raised their price objective on shares of Rocket Companies from $13.00 to $15.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Royal Bank of Canada increased their target price on Rocket Companies from $16.00 to $20.00 and gave the stock a “sector perform” rating in a research report on Wednesday, September 11th. Finally, Wedbush lifted their price target on Rocket Companies from $15.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, September 11th. Five analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat.com, Rocket Companies presently has a consensus rating of “Hold” and an average target price of $15.15.

Rocket Companies Stock Performance

Shares of RKT stock traded up $0.12 during trading hours on Tuesday, hitting $16.12. 432,526 shares of the company were exchanged, compared to its average volume of 2,795,752. The company has a current ratio of 13.18, a quick ratio of 13.18 and a debt-to-equity ratio of 1.27. The stock has a market capitalization of $32.07 billion, a price-to-earnings ratio of 230.32 and a beta of 2.46. The firm has a fifty day simple moving average of $18.36 and a 200 day simple moving average of $16.13. Rocket Companies has a 52-week low of $7.85 and a 52-week high of $21.38.

Hedge Funds Weigh In On Rocket Companies

Institutional investors have recently made changes to their positions in the stock. Capital Performance Advisors LLP purchased a new stake in shares of Rocket Companies in the 3rd quarter valued at $39,000. Blue Trust Inc. bought a new stake in shares of Rocket Companies in the 2nd quarter valued at about $61,000. Quarry LP grew its holdings in shares of Rocket Companies by 858.8% in the second quarter. Quarry LP now owns 4,353 shares of the company’s stock worth $60,000 after purchasing an additional 3,899 shares during the last quarter. EntryPoint Capital LLC purchased a new stake in shares of Rocket Companies during the first quarter worth about $77,000. Finally, V Square Quantitative Management LLC bought a new position in Rocket Companies during the 3rd quarter valued at approximately $120,000. Institutional investors own 4.59% of the company’s stock.

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.