Blue Trust Inc. Acquires 2,261 Shares of Rocket Companies, Inc. (NYSE:RKT)

Blue Trust Inc. raised its position in Rocket Companies, Inc. (NYSE:RKT) by 54.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,438 shares of the company’s stock after buying an additional 2,261 shares during the quarter. Blue Trust Inc.’s holdings in Rocket Companies were worth $124,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of RKT. Lakeshore Financial Planning Inc. raised its position in Rocket Companies by 8.0% in the second quarter. Lakeshore Financial Planning Inc. now owns 13,496 shares of the company’s stock valued at $185,000 after purchasing an additional 1,000 shares during the last quarter. DMC Group LLC boosted its position in shares of Rocket Companies by 3.7% during the 1st quarter. DMC Group LLC now owns 29,077 shares of the company’s stock worth $423,000 after purchasing an additional 1,029 shares in the last quarter. Wedmont Private Capital increased its holdings in shares of Rocket Companies by 8.9% during the third quarter. Wedmont Private Capital now owns 15,937 shares of the company’s stock valued at $279,000 after acquiring an additional 1,305 shares in the last quarter. Arizona State Retirement System lifted its stake in shares of Rocket Companies by 6.0% in the second quarter. Arizona State Retirement System now owns 34,974 shares of the company’s stock valued at $479,000 after buying an additional 1,979 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Rocket Companies by 7.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,217 shares of the company’s stock worth $428,000 after purchasing an additional 2,064 shares in the last quarter. Institutional investors and hedge funds own 4.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Barclays lifted their price target on Rocket Companies from $10.00 to $14.00 and gave the stock an “underweight” rating in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft upped their price target on Rocket Companies from $11.00 to $15.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. Bank of America boosted their target price on Rocket Companies from $12.00 to $14.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. 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 report on Wednesday, September 11th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Rocket Companies from $15.00 to $19.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Five equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat.com, Rocket Companies presently has an average rating of “Hold” and an average price target of $14.89.

Rocket Companies Stock Performance

Shares of RKT opened at $16.32 on Tuesday. The company has a 50-day simple moving average of $18.76 and a two-hundred day simple moving average of $15.97. The company has a debt-to-equity ratio of 1.27, a current ratio of 13.18 and a quick ratio of 13.18. The firm has a market capitalization of $32.46 billion, a PE ratio of 233.10 and a beta of 2.44. Rocket Companies, Inc. has a one year low of $7.20 and a one year high of $21.38.

Rocket Companies (NYSE:RKT) last issued its quarterly earnings results 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 company had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Rocket Companies had a net margin of 0.29% and a return on equity of 0.90%. Rocket Companies’s revenue was up 5.3% on a year-over-year basis. During the same period last year, the company posted ($0.05) EPS. On average, analysts anticipate that Rocket Companies, Inc. will post 0.23 EPS for the current fiscal year.

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.