Rocket Companies, Inc. (NYSE:RKT) Receives Average Rating of "Reduce" from Brokerages

Shares of Rocket Companies, Inc. (NYSE:RKT - Get Free Report) have received an average rating of "Reduce" from the eleven analysts that are currently covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a sell rating and six have given a hold rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $14.89.

RKT has been the topic of a number of recent research reports. Wells Fargo & Company boosted their target price on shares of Rocket Companies from $13.00 to $15.00 and gave the stock an "equal weight" rating in a research report on Friday, August 2nd. UBS Group upped their price objective on shares of Rocket Companies from $11.50 to $14.00 and gave the company a "sell" rating in a research report on Monday, September 16th. Wedbush lifted their target price on Rocket Companies from $15.00 to $18.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 11th. Barclays increased their price target on Rocket Companies from $10.00 to $14.00 and gave the company an "underweight" rating in a report on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Rocket Companies from $11.00 to $15.00 and gave the stock a "hold" rating in a report on Friday, August 2nd.

Rocket Companies Trading Down 2.4 %

Shares of Rocket Companies stock traded down $0.39 during trading hours on Friday, hitting $15.71. The company's stock had a trading volume of 3,106,581 shares, compared to its average volume of 3,024,468. The business has a fifty day moving average of $18.46 and a 200 day moving average of $16.10. The company has a quick ratio of 13.18, a current ratio of 13.18 and a debt-to-equity ratio of 1.27. Rocket Companies has a 1-year low of $7.68 and a 1-year high of $21.38. The company has a market capitalization of $31.25 billion, a PE ratio of 224.46 and a beta of 2.46.

Rocket Companies (NYSE:RKT - Get Free Report) last issued its earnings results on Thursday, August 1st. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.01. Rocket Companies had a return on equity of 0.90% and a net margin of 0.29%. The company had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the prior year, the business earned ($0.05) earnings per share. The company's revenue was up 5.3% compared to the same quarter last year. As a group, equities analysts forecast that Rocket Companies will post 0.23 EPS for the current year.

Institutional Investors Weigh In On Rocket Companies

Large investors have recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP acquired a new position in shares of Rocket Companies during the third quarter worth approximately $39,000. Quarry LP boosted its position in Rocket Companies by 858.8% during the 2nd quarter. Quarry LP now owns 4,353 shares of the company's stock worth $60,000 after acquiring an additional 3,899 shares during the period. Blue Trust Inc. bought a new position in shares of Rocket Companies in the second quarter worth $61,000. EntryPoint Capital LLC acquired a new position in shares of Rocket Companies during the first quarter valued at $77,000. Finally, V Square Quantitative Management LLC bought a new stake in shares of Rocket Companies during the third quarter valued at about $120,000. 4.59% of the stock is owned by institutional investors and hedge funds.

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.