Rocket Companies (NYSE:RKT) Hits New 52-Week High at $21.38

Rocket Companies, Inc. (NYSE:RKT) hit a new 52-week high on Wednesday . The company traded as high as $21.38 and last traded at $20.87, with a volume of 2953694 shares changing hands. The stock had previously closed at $20.67.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Wedbush lifted their price objective on shares of Rocket Companies from $15.00 to $18.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 11th. Keefe, Bruyette & Woods upgraded shares of Rocket Companies from an “underperform” rating to a “market perform” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. upped their price target on Rocket Companies from $13.50 to $15.00 and gave the company an “underweight” rating in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft raised their price objective on Rocket Companies from $11.00 to $15.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Finally, Royal Bank of Canada boosted their target price on Rocket Companies from $16.00 to $20.00 and gave the stock a “sector perform” rating in a research report on Wednesday, September 11th. Five equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $13.73.

Rocket Companies Stock Down 0.8 %

The business has a fifty day moving average price of $17.77 and a two-hundred day moving average price of $14.97. The firm has a market cap of $40.78 billion, a PE ratio of 187.55 and a beta of 2.45. The company has a debt-to-equity ratio of 1.27, a current ratio of 13.18 and a quick ratio of 13.18.

Rocket Companies (NYSE:RKT) last released its earnings results on Thursday, August 1st. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.01. The company had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Rocket Companies had a return on equity of 0.90% and a net margin of 0.29%. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.05) EPS. On average, analysts anticipate that Rocket Companies, Inc. will post 0.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Rocket Companies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RKT. International Assets Investment Management LLC increased its stake in shares of Rocket Companies by 1,348.3% in the fourth quarter. International Assets Investment Management LLC now owns 34,889 shares of the company’s stock worth $505,000 after acquiring an additional 32,480 shares during the last quarter. Private Advisor Group LLC purchased a new stake in shares of Rocket Companies during the 4th quarter worth about $317,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Rocket Companies by 5.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 716,974 shares of the company’s stock valued at $10,382,000 after buying an additional 35,470 shares during the last quarter. Principal Securities Inc. bought a new stake in shares of Rocket Companies in the 4th quarter valued at approximately $26,000. Finally, Vanguard Personalized Indexing Management LLC raised its position in Rocket Companies by 27.8% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 16,226 shares of the company’s stock valued at $235,000 after acquiring an additional 3,533 shares in the last quarter. Hedge funds and other institutional investors own 4.59% of the company’s stock.

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.