Shares of Rocket Companies, Inc. (NYSE:RKT - Get Free Report) were down 3.7% on Monday . The stock traded as low as $17.13 and last traded at $17.34. Approximately 698,940 shares changed hands during trading, a decline of 75% from the average daily volume of 2,785,486 shares. The stock had previously closed at $18.01.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on RKT shares. Keefe, Bruyette & Woods upgraded Rocket Companies from an "underperform" rating to a "market perform" rating in a research note on Monday, August 5th. JPMorgan Chase & Co. lifted their price objective on shares of Rocket Companies from $15.00 to $19.00 and gave the company an "underweight" rating in a research note on Monday, October 7th. Bank of America boosted their target price on shares of Rocket Companies from $12.00 to $14.00 and gave the company an "underperform" rating in a research report on Thursday, August 29th. Wedbush boosted their price objective on Rocket Companies from $15.00 to $18.00 and gave the company a "neutral" rating in a report on Wednesday, September 11th. Finally, Royal Bank of Canada lifted their target price on shares of Rocket Companies from $16.00 to $20.00 and gave the company a "sector perform" rating in a report on Wednesday, September 11th. Five analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat.com, Rocket Companies presently has a consensus rating of "Hold" and a consensus target price of $14.89.
Get Our Latest Research Report on Rocket Companies
Rocket Companies Stock Down 9.4 %
The company has a market cap of $32.46 billion, a PE ratio of 154.00 and a beta of 2.44. The business has a fifty day simple moving average of $19.02 and a two-hundred day simple moving average of $15.83. The company has a current ratio of 13.18, a quick ratio of 13.18 and a debt-to-equity ratio of 1.27.
Rocket Companies (NYSE:RKT - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.06 EPS for the quarter, beating analysts' consensus estimates of $0.05 by $0.01. The company had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.22 billion. Rocket Companies had a net margin of 0.29% and a return on equity of 0.90%. Rocket Companies's quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.05) EPS. As a group, equities research analysts predict that Rocket Companies, Inc. will post 0.23 earnings per share for the current year.
Institutional Trading of Rocket Companies
Large investors have recently added to or reduced their stakes in the stock. DMC Group LLC boosted its position in shares of Rocket Companies by 8.1% during the 3rd quarter. DMC Group LLC now owns 31,775 shares of the company's stock valued at $610,000 after acquiring an additional 2,373 shares during the last quarter. Raymond James & Associates grew its stake in shares of Rocket Companies by 48.7% in the 3rd quarter. Raymond James & Associates now owns 300,612 shares of the company's stock valued at $5,769,000 after buying an additional 98,397 shares during the period. Schubert & Co purchased a new stake in shares of Rocket Companies during the 3rd quarter valued at approximately $372,000. Blue Trust Inc. lifted its holdings in Rocket Companies by 54.1% in the third quarter. Blue Trust Inc. now owns 6,438 shares of the company's stock valued at $124,000 after acquiring an additional 2,261 shares during the last quarter. Finally, V Square Quantitative Management LLC purchased a new position in Rocket Companies in the third quarter worth approximately $120,000. 4.59% of the stock is currently owned by hedge funds and other institutional investors.
About Rocket Companies
(
Get Free Report)
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.
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