Rocket Companies (NYSE:RKT) Given New $14.00 Price Target at UBS Group

Rocket Companies (NYSE:RKT) had its target price hoisted by UBS Group from $11.50 to $14.00 in a report issued on Monday morning, Benzinga reports. UBS Group currently has a sell rating on the stock.

RKT has been the subject of several other research reports. Bank of America upped their target price on Rocket Companies from $12.00 to $14.00 and gave the stock an underperform rating in a research note on Thursday, August 29th. Deutsche Bank Aktiengesellschaft increased their target price 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. JPMorgan Chase & Co. lifted their price target on shares of Rocket Companies from $13.50 to $15.00 and gave the company an underweight rating in a report on Friday, August 2nd. Wells Fargo & Company lifted their price objective on Rocket Companies from $13.00 to $15.00 and gave the company an equal weight rating in a research report on Friday, August 2nd. Finally, Royal Bank of Canada upped their target price on shares of Rocket Companies from $16.00 to $20.00 and gave the stock a sector perform rating in a research report on Wednesday, September 11th. Five equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat.com, Rocket Companies currently has an average rating of Hold and a consensus price target of $13.73.

Rocket Companies Price Performance

Shares of NYSE:RKT opened at $20.37 on Monday. The company has a 50 day moving average of $17.62 and a 200 day moving average of $14.91. The stock has a market cap of $40.50 billion, a P/E ratio of 185.18 and a beta of 2.45. The company has a current ratio of 13.18, a quick ratio of 13.18 and a debt-to-equity ratio of 1.27. Rocket Companies has a 12 month low of $7.17 and a 12 month high of $21.28.

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

Hedge Funds Weigh In On Rocket Companies

Several hedge funds and other institutional investors have recently bought and sold shares of RKT. Vanguard Group Inc. grew its position in Rocket Companies by 10.4% in the 4th quarter. Vanguard Group Inc. now owns 11,702,838 shares of the company’s stock worth $169,457,000 after purchasing an additional 1,101,325 shares during the period. Marshall Wace LLP purchased a new stake in Rocket Companies in the 2nd quarter worth approximately $10,811,000. Renaissance Technologies LLC increased its stake in shares of Rocket Companies by 26.1% in the second quarter. Renaissance Technologies LLC now owns 2,468,700 shares of the company’s stock worth $33,821,000 after purchasing an additional 510,400 shares in the last quarter. Boston Partners increased its stake in Rocket Companies by 4.2% in the 1st quarter. Boston Partners now owns 9,382,173 shares of the company’s stock worth $136,462,000 after buying an additional 381,841 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of Rocket Companies during the first quarter worth about $2,698,000. Institutional investors own 4.59% of the company’s stock.

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.