Brokerages Set Rocket Companies, Inc. (NYSE:RKT) PT at $10.02

Shares of Rocket Companies, Inc. (NYSE:RKT) have earned an average rating of “Reduce” from the thirteen analysts that are covering the company, Marketbeat reports. Six investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $10.02.

Several research firms have recently commented on RKT. Wedbush restated a “neutral” rating and set a $13.00 price target on shares of Rocket Companies in a report on Friday, February 23rd. UBS Group upped their price objective on shares of Rocket Companies from $8.50 to $10.00 and gave the stock a “sell” rating in a report on Monday, February 26th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Rocket Companies in a report on Wednesday, January 10th. They issued a “hold” rating and a $10.00 price objective for the company. Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $10.75 price objective on shares of Rocket Companies in a report on Wednesday, January 3rd. Finally, Bank of America upped their price objective on shares of Rocket Companies from $7.00 to $8.00 and gave the stock an “underperform” rating in a report on Monday, March 18th.

Rocket Companies Trading Up 5.7 %

Rocket Companies stock opened at $14.55 on Friday. The company’s fifty day simple moving average is $12.28 and its 200-day simple moving average is $10.78. The company has a quick ratio of 9.78, a current ratio of 9.78 and a debt-to-equity ratio of 0.92. Rocket Companies has a 12 month low of $7.17 and a 12 month high of $15.19. The stock has a market cap of $28.89 billion, a P/E ratio of -90.94, a P/E/G ratio of 11.37 and a beta of 2.39.

Rocket Companies (NYSE:RKT) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). Rocket Companies had a negative net margin of 0.41% and a negative return on equity of 3.63%. The company had revenue of $885.00 million for the quarter, compared to analysts’ expectations of $762.44 million. During the same quarter in the prior year, the firm earned ($0.12) earnings per share. The company’s revenue was up 29.6% on a year-over-year basis. As a group, sell-side analysts forecast that Rocket Companies will post 0.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Principal Securities Inc. acquired a new position in shares of Rocket Companies during the fourth quarter valued at about $26,000. FMR LLC raised its position in shares of Rocket Companies by 134.7% during the second quarter. FMR LLC now owns 3,598 shares of the company’s stock valued at $26,000 after buying an additional 2,065 shares during the last quarter. Deutsche Bank AG raised its position in shares of Rocket Companies by 658.7% during the fourth quarter. Deutsche Bank AG now owns 3,892 shares of the company’s stock valued at $27,000 after buying an additional 3,379 shares during the last quarter. Vima LLC acquired a new position in shares of Rocket Companies during the fourth quarter valued at about $31,000. Finally, Captrust Financial Advisors raised its position in shares of Rocket Companies by 178.2% during the second quarter. Captrust Financial Advisors now owns 4,451 shares of the company’s stock valued at $33,000 after buying an additional 2,851 shares during the last quarter. Institutional investors and hedge funds 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.