{"id":85604,"date":"2023-11-17T04:55:54","date_gmt":"2023-11-17T09:55:54","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/barclays-rates-rocket-companies-with-an-underweight-recommendation\/"},"modified":"2023-11-17T04:55:56","modified_gmt":"2023-11-17T09:55:56","slug":"barclays-rates-rocket-companies-with-an-underweight-recommendation","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=85604","title":{"rendered":"Barclays rates Rocket Companies with an Underweight recommendation"},"content":{"rendered":"
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\u00a9 Reuters. <\/span>
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Barclays initiated coverage on Detroit-based Rocket Companies Inc (NYSE:RKT), a prominent holding company known for its consumer finance and technology brands like Rocket Mortgage, with an Underweight rating on Wednesday. The financial institution set a one-year price target of $9.53 for Rocket Companies, indicating a modest potential rise of 3.34% from the company\u2019s last closing price of $9.22.<\/p>\n

Rocket Companies, established in 1985, has consistently been recognized for its workplace culture, making it onto Fortune magazine’s list of ‘100 Best Companies to Work For’ for 17 straight years. The company boasts a substantial workforce of 22,000 team members across its various brands.<\/p>\n

The projected annual revenue for Rocket Companies stands at approximately $4.268 billion, coupled with a non-GAAP EPS (Earnings Per Share) of $0.02. A put\/call ratio at 0.56 suggests a bullish sentiment in the market towards the company’s stock.<\/p>\n

Recent movements in institutional investments show a mixed picture. While some funds have increased their positions, others have scaled back. Notably:<\/p>\n