Rocket Companies, Inc. (NYSE:RKT) Receives $10.60 Average PT from Brokerages

Rocket Companies, Inc. (NYSE:RKT) has earned a consensus recommendation of “Reduce” from the thirteen analysts that are covering the company, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $10.60.

Several research analysts have recently commented on the stock. Piper Sandler raised their price objective on shares of Rocket Companies from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Tuesday, May 7th. Wedbush restated a “neutral” rating and issued a $13.00 price target on shares of Rocket Companies in a research note on Friday, May 3rd. JPMorgan Chase & Co. increased their price objective on Rocket Companies from $10.50 to $11.00 and gave the company an “underweight” rating in a research note on Friday, May 3rd. Royal Bank of Canada boosted their target price on Rocket Companies from $12.00 to $14.00 and gave the stock a “sector perform” rating in a research note on Friday, May 3rd. Finally, Bank of America upped their price target on Rocket Companies from $7.00 to $8.00 and gave the stock an “underperform” rating in a report on Monday, March 18th.

Rocket Companies Stock Up 4.0 %

NYSE:RKT opened at $13.85 on Monday. Rocket Companies has a 52 week low of $7.17 and a 52 week high of $15.81. The stock’s fifty day moving average is $13.88 and its two-hundred day moving average is $13.12. The stock has a market capitalization of $27.54 billion, a price-to-earnings ratio of 125.91 and a beta of 2.43. The company has a quick ratio of 12.83, a current ratio of 12.83 and a debt-to-equity ratio of 1.20.

Rocket Companies (NYSE:RKT) last posted its earnings results on Thursday, May 2nd. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.08. Rocket Companies had a negative return on equity of 1.05% and a net margin of 0.43%. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.02 billion. Research analysts anticipate that Rocket Companies will post 0.24 EPS for the current year.

Hedge Funds Weigh In On Rocket Companies

Several hedge funds have recently added to or reduced their stakes in RKT. Boston Partners boosted its position in shares of Rocket Companies by 4.2% in the 1st quarter. Boston Partners now owns 9,382,173 shares of the company’s stock valued at $136,462,000 after purchasing an additional 381,841 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Rocket Companies in the first quarter valued at approximately $2,698,000. Bayesian Capital Management LP purchased a new position in shares of Rocket Companies during the first quarter worth approximately $176,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Rocket Companies by 7.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 57,389 shares of the company’s stock valued at $836,000 after acquiring an additional 3,858 shares during the period. Finally, EntryPoint Capital LLC purchased a new stake in Rocket Companies in the 1st quarter valued at $77,000. 4.59% of the stock is currently owned by hedge funds and other institutional investors.

Rocket Companies Company Profile

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.