Rocket Companies (NYSE:RKT) Shares Down 3.5%

Rocket Companies, Inc. (NYSE:RKT) traded down 3.5% during mid-day trading on Thursday . The company traded as low as $19.70 and last traded at $19.71. 752,083 shares were traded during mid-day trading, a decline of 72% from the average session volume of 2,733,231 shares. The stock had previously closed at $20.42.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on RKT shares. Bank of America upped their price objective on shares of Rocket Companies from $12.00 to $14.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Barclays upped their target price on shares of Rocket Companies from $9.00 to $10.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 9th. JPMorgan Chase & Co. upped their target price on shares of Rocket Companies from $13.50 to $15.00 and gave the company an “underweight” rating in a research report on Friday, August 2nd. UBS Group upped their target price on shares of Rocket Companies from $11.50 to $14.00 and gave the company a “sell” rating in a research report on Monday. Finally, Wells Fargo & Company increased their price target on shares of Rocket Companies from $13.00 to $15.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Five research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $13.73.

Rocket Companies Stock Performance

The company’s 50 day simple moving average is $17.91 and its 200 day simple moving average is $15.01. 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 stock has a market cap of $38.40 billion, a PE ratio of 185.68 and a beta of 2.45.

Rocket Companies (NYSE:RKT) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. The business 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 firm’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.05) EPS. Analysts expect that Rocket Companies, Inc. will post 0.22 earnings per share for the current year.

Institutional Trading of Rocket Companies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Principal Securities Inc. purchased a new stake in Rocket Companies in the fourth quarter worth $26,000. Vima LLC purchased a new stake in shares of Rocket Companies during the fourth quarter valued at $31,000. Blue Trust Inc. purchased a new stake in shares of Rocket Companies during the second quarter valued at $61,000. Quarry LP boosted its position in shares of Rocket Companies by 858.8% during the second quarter. Quarry LP now owns 4,353 shares of the company’s stock valued at $60,000 after buying an additional 3,899 shares during the last quarter. Finally, EntryPoint Capital LLC purchased a new stake in shares of Rocket Companies during the first quarter valued at $77,000. 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.