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

Shares of Rocket Companies, Inc. (NYSE:RKT - Get Free Report) have received an average rating of "Reduce" from the thirteen research firms that are covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $13.50.

A number of research firms recently issued reports on RKT. Wedbush reissued a "neutral" rating and issued a $13.00 price objective (down previously from $18.00) on shares of Rocket Companies in a report on Wednesday, November 13th. Royal Bank of Canada dropped their price objective on shares of Rocket Companies from $20.00 to $18.00 and set a "sector perform" rating on the stock in a report on Wednesday, November 13th. JPMorgan Chase & Co. dropped their price objective on shares of Rocket Companies from $14.00 to $10.50 and set an "underweight" rating on the stock in a report on Tuesday, January 14th. Barclays lowered their price target on shares of Rocket Companies from $14.00 to $13.00 and set an "underweight" rating on the stock in a report on Wednesday, November 13th. Finally, UBS Group raised shares of Rocket Companies from a "sell" rating to a "neutral" rating and lowered their price target for the company from $12.50 to $11.50 in a report on Friday, January 10th.

Institutional Investors Weigh In On Rocket Companies

Institutional investors and hedge funds have recently modified their holdings of the stock. Raymond James & Associates increased its position in Rocket Companies by 48.7% in the third quarter. Raymond James & Associates now owns 300,612 shares of the company's stock worth $5,769,000 after purchasing an additional 98,397 shares during the last quarter. Victory Capital Management Inc. increased its position in Rocket Companies by 324.4% in the third quarter. Victory Capital Management Inc. now owns 67,161 shares of the company's stock worth $1,289,000 after purchasing an additional 51,336 shares during the last quarter. Quadrature Capital Ltd bought a new stake in Rocket Companies in the third quarter worth $1,071,000. XTX Topco Ltd bought a new stake in Rocket Companies in the third quarter worth $1,486,000. Finally, Entropy Technologies LP bought a new stake in Rocket Companies in the third quarter worth $875,000. Institutional investors own 4.59% of the company's stock.

Rocket Companies Stock Performance

Shares of NYSE RKT traded up $0.22 during trading on Tuesday, reaching $13.08. 2,525,195 shares of the company traded hands, compared to its average volume of 3,147,168. The firm has a 50 day simple moving average of $11.88 and a 200-day simple moving average of $15.46. The company has a quick ratio of 15.47, a current ratio of 15.47 and a debt-to-equity ratio of 1.51. The stock has a market capitalization of $26.08 billion, a PE ratio of -81.72 and a beta of 2.43. Rocket Companies has a 52-week low of $10.06 and a 52-week high of $21.38.

Rocket Companies (NYSE:RKT - Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.08 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.08. The company had revenue of $647.00 million for the quarter, compared to the consensus estimate of $1.25 billion. Rocket Companies had a negative net margin of 0.38% and a positive return on equity of 2.86%. The firm's revenue was down 46.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.01) earnings per share. Equities research analysts anticipate that Rocket Companies will post 0.15 earnings per share for the current 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.