Rocket Companies, Inc. (NYSE:RKT) Receives Consensus Rating of “Hold” from Analysts

Shares of Rocket Companies, Inc. (NYSE:RKT) have received an average recommendation of “Hold” from the seventeen analysts that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $26.20.

Several equities analysts have weighed in on RKT shares. Credit Suisse Group lowered their price objective on shares of Rocket Companies from $29.00 to $27.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 11th. Wedbush started coverage on shares of Rocket Companies in a report on Thursday, September 10th. They set a “neutral” rating and a $24.00 price target on the stock. ValuEngine cut shares of Rocket Companies from a “sell” rating to a “strong sell” rating in a report on Wednesday, December 2nd. Keefe, Bruyette & Woods cut shares of Rocket Companies from a “market perform” rating to an “underperform” rating and set a $19.00 price target on the stock. in a report on Thursday, December 17th. Finally, Bank of America restated a “buy” rating and set a $27.00 price target (down from $32.00) on shares of Rocket Companies in a report on Wednesday, November 11th.

NYSE RKT opened at $20.22 on Friday. Rocket Companies has a twelve month low of $17.78 and a twelve month high of $34.42. The business’s 50 day moving average price is $20.99.

Rocket Companies (NYSE:RKT) last posted its quarterly earnings data on Sunday, November 15th. The company reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.12. The firm had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.55 billion. The company’s revenue for the quarter was up 163.4% on a year-over-year basis. As a group, equities analysts anticipate that Rocket Companies will post 3.29 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in the stock. Freestone Capital Holdings LLC acquired a new stake in shares of Rocket Companies in the 3rd quarter valued at $30,000. Dimension Capital Management LLC acquired a new stake in shares of Rocket Companies in the 3rd quarter valued at $32,000. Weaver Consulting Group acquired a new stake in shares of Rocket Companies in the 3rd quarter valued at $38,000. Shine Investment Advisory Services Inc. acquired a new position in Rocket Companies during the 3rd quarter worth $40,000. Finally, Clearstead Advisors LLC acquired a new position in Rocket Companies during the 3rd quarter worth $55,000.

About Rocket Companies

Rocket Companies is a Detroit-based holding company consisting of personal finance and consumer service brands including Rocket Mortgage, Rocket Homes, Rocket Loans, Rocket Auto, Rock Central, Amrock, Core Digital Media, Rock Connections, Lendesk and Edison Financial. Since 1985, Rocket Companies has been obsessed with helping its clients achieve the American dream of home ownership and financial freedom.

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Analyst Recommendations for Rocket Companies (NYSE:RKT)

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