The Goldman Sachs Group Lowers Rocket Companies (NYSE:RKT) Price Target to $14.00

Rocket Companies (NYSE:RKT) had its price objective cut by The Goldman Sachs Group from $16.00 to $14.00 in a report released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the stock.

Other equities research analysts have also recently issued reports about the company. Keefe, Bruyette & Woods reduced their target price on Rocket Companies from $11.50 to $10.50 and set an “underperform” rating on the stock in a report on Friday, January 3rd. Bank of America lifted their price objective on Rocket Companies from $14.00 to $15.00 and gave the stock an “underperform” rating in a research note on Thursday, November 14th. Wedbush reiterated a “neutral” rating and set a $13.00 target price (down from $18.00) on shares of Rocket Companies in a research report on Wednesday, November 13th. UBS Group reduced their price target on shares of Rocket Companies from $14.00 to $12.50 and set a “sell” rating on the stock in a research report on Thursday, November 14th. Finally, Morgan Stanley lowered their price objective on shares of Rocket Companies from $16.00 to $13.00 and set an “equal weight” rating for the company in a research report on Thursday, December 19th. Six investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $13.85.

Rocket Companies Trading Down 1.1 %

RKT stock opened at $10.46 on Tuesday. The company has a market capitalization of $20.86 billion, a price-to-earnings ratio of -65.38 and a beta of 2.42. The company has a debt-to-equity ratio of 1.51, a current ratio of 15.47 and a quick ratio of 15.47. Rocket Companies has a 1-year low of $10.27 and a 1-year high of $21.38. The business has a 50 day simple moving average of $13.07 and a two-hundred day simple moving average of $15.83.

Rocket Companies (NYSE:RKT) last issued its earnings results on Tuesday, November 12th. The company reported $0.08 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.08. The firm had revenue of $647.00 million during the quarter, compared to analyst estimates of $1.25 billion. Rocket Companies had a negative net margin of 0.38% and a positive return on equity of 2.86%. Rocket Companies’s revenue for the quarter was down 46.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.01) earnings per share. Research analysts anticipate that Rocket Companies will post 0.16 EPS for the current fiscal year.

Institutional Trading of Rocket Companies

Several institutional investors have recently added to or reduced their stakes in RKT. Tidal Investments LLC grew its stake in shares of Rocket Companies by 804.3% during the third quarter. Tidal Investments LLC now owns 315,764 shares of the company’s stock valued at $6,060,000 after buying an additional 280,847 shares during the last quarter. Virtu Financial LLC grew its position in Rocket Companies by 22.1% in the 3rd quarter. Virtu Financial LLC now owns 16,135 shares of the company’s stock valued at $310,000 after acquiring an additional 2,925 shares during the last quarter. Geode Capital Management LLC grew its position in Rocket Companies by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,043,975 shares of the company’s stock valued at $39,235,000 after acquiring an additional 12,735 shares during the last quarter. Barclays PLC increased its stake in Rocket Companies by 136.2% in the third quarter. Barclays PLC now owns 238,323 shares of the company’s stock worth $4,573,000 after purchasing an additional 137,441 shares during the period. Finally, XTX Topco Ltd bought a new stake in shares of Rocket Companies during the third quarter worth $1,486,000. Institutional investors own 4.59% of the company’s stock.

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.