Rocket Companies, Inc. (NYSE:RKT) Receives $14.89 Average PT from Analysts

Rocket Companies, Inc. (NYSE:RKT) has been given an average recommendation of “Reduce” by the eleven research firms that are presently covering the stock, Marketbeat reports. Five research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $14.89.

A number of research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Rocket Companies from $11.00 to $15.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. Bank of America boosted their price target 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. UBS Group boosted their price target on shares of Rocket Companies from $11.50 to $14.00 and gave the stock a “sell” rating in a report on Monday, September 16th. JPMorgan Chase & Co. boosted their price target on shares of Rocket Companies from $15.00 to $19.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Finally, Wells Fargo & Company boosted their price target on shares of Rocket Companies from $13.00 to $15.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd.

Rocket Companies Stock Performance

NYSE:RKT opened at $17.74 on Wednesday. The company has a current ratio of 13.18, a quick ratio of 13.18 and a debt-to-equity ratio of 1.27. The company’s 50-day moving average price is $18.99 and its 200-day moving average price is $15.66. Rocket Companies has a twelve month low of $7.17 and a twelve month high of $21.38. The company has a market cap of $35.26 billion, a P/E ratio of 161.23 and a beta of 2.44.

Rocket Companies (NYSE:RKT) last issued 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 company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the previous year, the firm earned ($0.05) earnings per share. Rocket Companies’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, sell-side analysts forecast that Rocket Companies will post 0.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rocket Companies

A number of large investors have recently added to or reduced their stakes in the business. Wedmont Private Capital lifted its holdings in Rocket Companies by 8.9% in the 3rd quarter. Wedmont Private Capital now owns 15,937 shares of the company’s stock valued at $279,000 after purchasing an additional 1,305 shares in the last quarter. CWM LLC lifted its holdings in Rocket Companies by 73.6% in the 3rd quarter. CWM LLC now owns 25,154 shares of the company’s stock valued at $483,000 after purchasing an additional 10,668 shares in the last quarter. Quarry LP lifted its holdings in Rocket Companies by 858.8% in the 2nd quarter. Quarry LP now owns 4,353 shares of the company’s stock valued at $60,000 after purchasing an additional 3,899 shares in the last quarter. Algert Global LLC lifted its holdings in shares of Rocket Companies by 117.2% during the 2nd quarter. Algert Global LLC now owns 23,285 shares of the company’s stock worth $319,000 after acquiring an additional 12,565 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Rocket Companies by 34.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,110 shares of the company’s stock worth $344,000 after acquiring an additional 6,377 shares during the period. 4.59% of the stock is owned by institutional investors and hedge funds.

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.