Fintel reports that on November 15, 2023, Barclays initiated coverage of Rocket Companies Inc (NYSE:RKT) with a Underweight recommendation.
Analyst Price Forecast Suggests 3.34% Upside
As of November 1, 2023, the average one-year price target for Rocket Companies Inc is 9.53. The forecasts range from a low of 6.06 to a high of $11.55. The average price target represents an increase of 3.34% from its latest reported closing price of 9.22.
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The projected annual revenue for Rocket Companies Inc is 4,268MM, an increase of 13.78%. The projected annual non-GAAP EPS is 0.02.
What is the Fund Sentiment?
There are 415 funds or institutions reporting positions in Rocket Companies Inc. This is a decrease of 1 owner(s) or 0.24% in the last quarter. Average portfolio weight of all funds dedicated to RKT is 0.10%, an increase of 4.63%. Total shares owned by institutions decreased in the last three months by 1.54% to 97,222K shares. 
The put/call ratio of RKT is 0.56, indicating a bullish outlook.
What are Other Shareholders Doing?
Boston Partners holds 5,814K shares representing 4.36% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
Caledonia (Private) Investments Pty holds 4,862K shares representing 3.64% ownership of the company. In it's prior filing, the firm reported owning 5,303K shares, representing a decrease of 9.08%. The firm decreased its portfolio allocation in RKT by 11.22% over the last quarter.
Technology Crossover Management X holds 4,450K shares representing 3.34% ownership of the company. No change in the last quarter.
AIM EQUITY FUNDS (INVESCO EQUITY FUNDS) - Invesco Oppenheimer Main Street Fund Class C holds 4,364K shares representing 3.27% ownership of the company. In it's prior filing, the firm reported owning 4,284K shares, representing an increase of 1.83%. The firm increased its portfolio allocation in RKT by 16.01% over the last quarter.
Capital World Investors holds 3,632K shares representing 2.72% ownership of the company. In it's prior filing, the firm reported owning 3,632K shares, representing an increase of 0.01%. The firm decreased its portfolio allocation in RKT by 5.96% over the last quarter.
Rocket Companies Background Information
(This description is provided by the company.)
Rocket Companies is a Detroit-based holding company consisting of personal finance and consumer technology 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. Rocket Companies offers an industry-leading client experience powered by our simple, fast, and trusted digital solutions. Rocket Companies has 22,000 team members across the United States and Canada. Its flagship company, Rocket Mortgage, has been named to Fortune magazine's list of '100 Best Companies to Work For' for 17 consecutive years.
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