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

by · The Markets Daily

Shares of Rocket Companies, Inc. (NYSE:RKT – Get Free Report) have been given a consensus rating of “Reduce” by the twelve analysts that are presently covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a sell rating and seven have issued a hold rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $13.73.

Several brokerages have recently weighed in on RKT. Bank of America lifted their price target on shares of Rocket Companies from $12.00 to $14.00 and gave the stock an “underperform” rating in a research note on Thursday, August 29th. Barclays upped their target price on shares of Rocket Companies from $9.00 to $10.00 and gave the company an “underweight” rating in a research report on Tuesday, July 9th. Wells Fargo & Company increased their price objective on shares of Rocket Companies from $13.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Wedbush increased their price objective on shares of Rocket Companies from $15.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, September 11th. Finally, JPMorgan Chase & Co. raised their target price on shares of Rocket Companies from $13.50 to $15.00 and gave the company an “underweight” rating in a research note on Friday, August 2nd.

View Our Latest Report on RKT

Rocket Companies Price Performance

Shares of NYSE RKT opened at $20.43 on Friday. The company has a market capitalization of $40.61 billion, a price-to-earnings ratio of 185.68 and a beta of 2.45. The company has a debt-to-equity ratio of 1.27, a quick ratio of 13.18 and a current ratio of 13.18. The company has a 50 day simple moving average of $17.91 and a two-hundred day simple moving average of $15.01. Rocket Companies has a fifty-two week low of $7.17 and a fifty-two week high of $21.38.

Rocket Companies (NYSE:RKT – Get Free Report) last posted its earnings results on Thursday, August 1st. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. Rocket Companies had a net margin of 0.29% and a return on equity of 0.90%. The business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the previous year, the firm posted ($0.05) EPS. The firm’s revenue was up 5.3% on a year-over-year basis. Analysts expect that Rocket Companies will post 0.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Rocket Companies

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. First Affirmative Financial Network increased its stake in Rocket Companies by 6.1% during the 1st quarter. First Affirmative Financial Network now owns 14,272 shares of the company’s stock worth $208,000 after buying an additional 822 shares during the period. Lakeshore Financial Planning Inc. boosted its holdings in shares of Rocket Companies by 8.0% in the 2nd quarter. Lakeshore Financial Planning Inc. now owns 13,496 shares of the company’s stock valued at $185,000 after buying an additional 1,000 shares in the last quarter. DMC Group LLC boosted its stake in Rocket Companies by 3.7% during the 1st quarter. DMC Group LLC now owns 29,077 shares of the company’s stock worth $423,000 after purchasing an additional 1,029 shares during the period. Principal Securities Inc. acquired a new stake in Rocket Companies during the 4th quarter worth $26,000. Finally, Arizona State Retirement System raised its position in Rocket Companies by 6.0% during the 2nd quarter. Arizona State Retirement System now owns 34,974 shares of the company’s stock worth $479,000 after buying an additional 1,979 shares during the last quarter. 4.59% of the stock is owned by hedge funds and other institutional investors.

Rocket Companies Company Profile

(Get Free Report

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.

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