Rocket Companies (NYSE:RKT) PT Raised to $19.00 at JPMorgan Chase & Co.

Rocket Companies (NYSE:RKT) had its price objective upped by JPMorgan Chase & Co. from $15.00 to $19.00 in a report issued on Monday, Benzinga reports. They currently have an underweight rating on the stock.

A number of other research analysts have also recently commented on RKT. Wells Fargo & Company increased their price target on Rocket Companies from $13.00 to $15.00 and gave the company an equal weight rating in a research note on Friday, August 2nd. Barclays lifted their price target on Rocket Companies from $9.00 to $10.00 and gave the company an underweight rating in a research note on Tuesday, July 9th. Bank of America upped their price objective on Rocket Companies from $12.00 to $14.00 and gave the company an underperform rating in a research note on Thursday, August 29th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Rocket Companies from $11.00 to $15.00 and gave the stock a hold rating in a research report on Friday, August 2nd. Finally, Wedbush upped their price target on shares of Rocket Companies from $15.00 to $18.00 and gave the company a neutral rating in a research report on Wednesday, September 11th. Five analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat, Rocket Companies presently has a consensus rating of Hold and a consensus price target of $14.89.

Rocket Companies Price Performance

Shares of RKT stock opened at $17.55 on Monday. Rocket Companies has a twelve month low of $7.17 and a twelve month high of $21.38. The company has a quick ratio of 13.18, a current ratio of 13.18 and a debt-to-equity ratio of 1.27. The business has a fifty day simple moving average of $18.94 and a 200 day simple moving average of $15.62. The company has a market cap of $34.90 billion, a P/E ratio of 159.51 and a beta of 2.44.

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

Institutional Investors Weigh In On Rocket Companies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital Fund Management S.A. raised its stake in shares of Rocket Companies by 27.8% in the fourth quarter. Capital Fund Management S.A. now owns 502,110 shares of the company’s stock worth $7,271,000 after purchasing an additional 109,278 shares during the last quarter. Swiss National Bank boosted its holdings in shares of Rocket Companies by 4.1% in the 1st quarter. Swiss National Bank now owns 237,000 shares of the company’s stock worth $3,448,000 after buying an additional 9,300 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Rocket Companies in the first quarter valued at about $2,698,000. Vanguard Group Inc. grew its holdings in Rocket Companies by 10.4% during the fourth quarter. Vanguard Group Inc. now owns 11,702,838 shares of the company’s stock valued at $169,457,000 after purchasing an additional 1,101,325 shares during the period. Finally, Wedmont Private Capital bought a new stake in Rocket Companies in the 1st quarter valued at about $154,000. 4.59% of the stock is owned by institutional investors.

About Rocket Companies

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.