Rocket Companies, Inc. (NYSE:RKT) Receives $13.52 Average Price Target from Analysts

Shares of Rocket Companies, Inc. (NYSE:RKT) have been given a consensus rating of “Reduce” by the twelve analysts that are presently covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a sell recommendation and seven have issued a hold recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $13.73.

A number of analysts have issued reports on the company. Wedbush raised their price target on Rocket Companies from $15.00 to $18.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 11th. JPMorgan Chase & Co. increased their price objective on shares of Rocket Companies from $13.50 to $15.00 and gave the stock an “underweight” rating in a report on Friday, August 2nd. Royal Bank of Canada boosted their target price on shares of Rocket Companies from $16.00 to $20.00 and gave the company a “sector perform” rating in a report on Wednesday, September 11th. Bank of America upped their price target on shares of Rocket Companies from $12.00 to $14.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. Finally, UBS Group lifted their price target on shares of Rocket Companies from $11.50 to $14.00 and gave the company a “sell” rating in a report on Monday.

Institutional Trading of Rocket Companies

A number of hedge funds have recently made changes to their positions in RKT. Vanguard Group Inc. boosted its stake in shares of Rocket Companies by 10.4% in 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. Marshall Wace LLP acquired a new position in Rocket Companies in the 2nd quarter worth $10,811,000. Renaissance Technologies LLC boosted its position in Rocket Companies by 26.1% in the 2nd quarter. Renaissance Technologies LLC now owns 2,468,700 shares of the company’s stock valued at $33,821,000 after buying an additional 510,400 shares during the last quarter. Boston Partners increased its position in shares of Rocket Companies by 4.2% during the first quarter. Boston Partners now owns 9,382,173 shares of the company’s stock worth $136,462,000 after acquiring an additional 381,841 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new position in Rocket Companies in the first quarter valued at about $2,698,000. Hedge funds and other institutional investors own 4.59% of the company’s stock.

Rocket Companies Stock Performance

Shares of NYSE RKT opened at $20.37 on Friday. The company has a 50-day simple moving average of $17.62 and a 200-day simple moving average of $14.91. 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 company has a market cap of $40.50 billion, a PE ratio of 185.18 and a beta of 2.45. Rocket Companies has a 12 month low of $7.17 and a 12 month high of $21.28.

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

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.