Brokerages Set Rocket Companies, Inc. (NYSE:RKT) Price Target at $13.50

Shares of Rocket Companies, Inc. (NYSE:RKT - Get Free Report) have been assigned a consensus recommendation of "Reduce" from the thirteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a sell rating and eight have issued a hold rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $13.50.

Several analysts have issued reports on RKT shares. Bank of America increased their target price on Rocket Companies from $14.00 to $15.00 and gave the company an "underperform" rating in a research report on Thursday, November 14th. Piper Sandler dropped their price objective on Rocket Companies from $17.00 to $16.00 and set a "neutral" rating on the stock in a research report on Thursday, November 14th. Barclays reduced their target price on shares of Rocket Companies from $14.00 to $13.00 and set an "underweight" rating for the company in a report on Wednesday, November 13th. Keefe, Bruyette & Woods lowered their price target on shares of Rocket Companies from $11.50 to $10.50 and set an "underperform" rating on the stock in a report on Friday, January 3rd. Finally, Royal Bank of Canada reduced their price objective on shares of Rocket Companies from $20.00 to $18.00 and set a "sector perform" rating for the company in a research note on Wednesday, November 13th.

Rocket Companies Stock Up 1.0 %

Shares of RKT stock traded up $0.12 on Friday, hitting $11.86. The stock had a trading volume of 3,044,617 shares, compared to its average volume of 3,284,973. Rocket Companies has a one year low of $10.06 and a one year high of $21.38. The business has a 50 day moving average price of $12.58 and a 200 day moving average price of $15.73. The company has a market cap of $23.66 billion, a PE ratio of -74.14 and a beta of 2.42. The company has a quick ratio of 15.47, a current ratio of 15.47 and a debt-to-equity ratio of 1.51.

Rocket Companies (NYSE:RKT - Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.08 EPS for the quarter, meeting the consensus estimate of $0.08. Rocket Companies had a negative net margin of 0.38% and a positive return on equity of 2.86%. The business had revenue of $647.00 million during the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the previous year, the business posted ($0.01) EPS. The company's quarterly revenue was down 46.2% compared to the same quarter last year. Research analysts anticipate that Rocket Companies will post 0.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rocket Companies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp increased its holdings in shares of Rocket Companies by 44.7% in the third quarter. State Street Corp now owns 4,108,189 shares of the company's stock valued at $78,836,000 after purchasing an additional 1,269,795 shares during the period. Marshall Wace LLP acquired a new position in Rocket Companies in the 2nd quarter worth approximately $10,811,000. Renaissance Technologies LLC raised its position in Rocket Companies by 26.1% during the 2nd quarter. Renaissance Technologies LLC now owns 2,468,700 shares of the company's stock worth $33,821,000 after buying an additional 510,400 shares during the last quarter. Philip James Wealth Mangement LLC acquired a new stake in Rocket Companies during the 3rd quarter valued at approximately $6,811,000. Finally, Tidal Investments LLC boosted its holdings in shares of Rocket Companies by 804.3% in the 3rd quarter. Tidal Investments LLC now owns 315,764 shares of the company's stock valued at $6,060,000 after acquiring an additional 280,847 shares during the last quarter. Hedge funds and other institutional investors 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.