Rocket Companies, Inc. (NYSE:RKT) Receives $13.92 Consensus Price Target from Brokerages

Rocket Companies, Inc. (NYSE:RKT) has received a consensus rating of “Reduce” from the twelve analysts that are presently covering the stock, Marketbeat reports. Six research analysts have rated the stock with a sell rating and six have given a hold rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $13.92.

Several analysts recently commented on RKT shares. JPMorgan Chase & Co. cut their price objective on Rocket Companies from $19.00 to $14.00 and set an “underweight” rating for the company in a report on Monday, December 9th. Morgan Stanley lowered their price objective on shares of Rocket Companies from $16.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 19th. Piper Sandler cut their target price on shares of Rocket Companies from $17.00 to $16.00 and set a “neutral” rating for the company in a research report on Thursday, November 14th. Bank of America increased their price target on shares of Rocket Companies from $14.00 to $15.00 and gave the stock an “underperform” rating in a research report on Thursday, November 14th. Finally, Keefe, Bruyette & Woods reissued an “underperform” rating and set a $11.50 price objective (down previously from $16.00) on shares of Rocket Companies in a research report on Tuesday, December 10th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in RKT. Wealth Enhancement Advisory Services LLC increased its position in Rocket Companies by 27.3% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 19,800 shares of the company’s stock worth $271,000 after purchasing an additional 4,250 shares during the last quarter. Raymond James & Associates increased its holdings in shares of Rocket Companies by 4.3% in the 2nd quarter. Raymond James & Associates now owns 202,215 shares of the company’s stock worth $2,770,000 after buying an additional 8,278 shares during the last quarter. Patriot Financial Group Insurance Agency LLC raised its position in shares of Rocket Companies by 100.7% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 20,955 shares of the company’s stock valued at $287,000 after buying an additional 10,515 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Rocket Companies by 7.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,217 shares of the company’s stock valued at $428,000 after acquiring an additional 2,064 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its position in Rocket Companies by 21.7% in the second quarter. Commonwealth Equity Services LLC now owns 69,645 shares of the company’s stock worth $954,000 after acquiring an additional 12,397 shares in the last quarter. Institutional investors own 4.59% of the company’s stock.

Rocket Companies Trading Down 0.9 %

Shares of NYSE RKT opened at $11.10 on Monday. The firm’s 50 day moving average price is $14.07 and its 200-day moving average price is $16.07. Rocket Companies has a 52-week low of $10.87 and a 52-week high of $21.38. The company has a debt-to-equity ratio of 1.51, a quick ratio of 15.47 and a current ratio of 15.47. The company has a market cap of $22.14 billion, a PE ratio of -69.38 and a beta of 2.38.

Rocket Companies (NYSE:RKT) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.08 EPS for the quarter, hitting the consensus estimate of $0.08. Rocket Companies had a positive return on equity of 2.86% and a negative net margin of 0.38%. The company had revenue of $647.00 million during the quarter, compared to the consensus estimate of $1.25 billion. During the same period last year, the company earned ($0.01) EPS. Rocket Companies’s revenue for the quarter was down 46.2% on a year-over-year basis. On average, equities research analysts expect that Rocket Companies will post 0.16 EPS for the current fiscal 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.