Rocket Companies (NYSE:RKT) Stock Passes Above 200-Day Moving Average of $0.00

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Rocket Companies, Inc. (NYSE:RKT) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $0.00 and traded as high as $20.38. Rocket Companies shares last traded at $19.84, with a volume of 5,985,115 shares.

RKT has been the subject of a number of recent analyst reports. Bank of America reaffirmed a “buy” rating and set a $27.00 price target (down from $32.00) on shares of Rocket Companies in a report on Wednesday, November 11th. 140166 raised Rocket Companies from a “negative” rating to a “neutral” rating and set a $20.00 price objective for the company in a research note on Friday, September 25th. They noted that the move was a valuation call. Wolfe Research started coverage on Rocket Companies in a research note on Friday, November 6th. They set an “outperform” rating for the company. ValuEngine cut Rocket Companies from a “sell” rating to a “strong sell” rating in a research report on Wednesday, December 2nd. Finally, Wells Fargo & Company dropped their target price on Rocket Companies from $29.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 11th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $26.20.

The stock has a fifty day simple moving average of $20.65.

Rocket Companies (NYSE:RKT) last posted its quarterly earnings data on Sunday, November 15th. The company reported $1.21 EPS for the quarter, beating the consensus estimate of $1.09 by $0.12. The company had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.55 billion. The firm’s quarterly revenue was up 163.4% on a year-over-year basis. Equities research analysts anticipate that Rocket Companies, Inc. will post 3.29 EPS for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Caledonia Private Investments Pty Ltd acquired a new position in Rocket Companies in the 3rd quarter valued at about $189,502,000. JPMorgan Chase & Co. acquired a new stake in shares of Rocket Companies during the 3rd quarter worth approximately $107,432,000. BlackRock Inc. acquired a new stake in shares of Rocket Companies during the 3rd quarter worth approximately $58,645,000. Retirement Systems of Alabama bought a new position in Rocket Companies in the 3rd quarter valued at approximately $47,876,000. Finally, Miller Value Partners LLC bought a new position in Rocket Companies in the 3rd quarter valued at approximately $44,582,000.

About Rocket Companies (NYSE:RKT)

Rocket Companies is a Detroit-based holding company consisting of personal finance and consumer service brands including Rocket Mortgage, Rocket Homes, Rocket Loans, Rocket Auto, Rock Central, Amrock, Core Digital Media, Rock Connections, Lendesk and Edison Financial. Since 1985, Rocket Companies has been obsessed with helping its clients achieve the American dream of home ownership and financial freedom.

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