Rocket Companies, Inc. (NYSE:RKT) Receives $15.13 Average Target Price from Brokerages

Shares of Rocket Companies, Inc. (NYSE:RKT - Get Free Report) have been assigned a consensus rating of "Reduce" from the twelve ratings firms that are covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a sell rating and seven have issued a hold rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $15.13.

A number of research firms have recently issued reports on RKT. Keefe, Bruyette & Woods dropped their price target on Rocket Companies from $20.00 to $16.00 and set a "market perform" rating on the stock in a research note on Thursday, November 14th. Royal Bank of Canada dropped their price target on Rocket Companies from $20.00 to $18.00 and set a "sector perform" rating on the stock in a research note on Wednesday, November 13th. UBS Group dropped their price target on Rocket Companies from $14.00 to $12.50 and set a "sell" rating on the stock in a research note on Thursday, November 14th. Barclays dropped their price target on Rocket Companies from $14.00 to $13.00 and set an "underweight" rating on the stock in a research note on Wednesday, November 13th. Finally, Morgan Stanley began coverage on Rocket Companies in a research note on Tuesday, November 5th. They issued an "equal weight" rating and a $18.00 price target on the stock.

Hedge Funds Weigh In On Rocket Companies

A number of institutional investors have recently bought and sold shares of RKT. Capital Performance Advisors LLP bought a new stake in Rocket Companies during the third quarter valued at about $39,000. Blue Trust Inc. bought a new stake in Rocket Companies during the second quarter valued at about $61,000. Quarry LP raised its holdings in Rocket Companies by 858.8% during the second quarter. Quarry LP now owns 4,353 shares of the company's stock valued at $60,000 after acquiring an additional 3,899 shares during the period. V Square Quantitative Management LLC bought a new stake in Rocket Companies during the third quarter valued at about $120,000. Finally, International Assets Investment Management LLC raised its holdings in Rocket Companies by 3,429.7% during the third quarter. International Assets Investment Management LLC now owns 7,377 shares of the company's stock valued at $142,000 after acquiring an additional 7,168 shares during the period. 4.59% of the stock is owned by institutional investors.

Rocket Companies Stock Up 2.0 %

RKT traded up $0.28 during trading on Thursday, hitting $14.34. 2,553,074 shares of the company's stock traded hands, compared to its average volume of 2,912,460. The company's 50 day simple moving average is $16.55 and its two-hundred day simple moving average is $16.30. The company has a current ratio of 15.47, a quick ratio of 15.47 and a debt-to-equity ratio of 1.51. Rocket Companies has a 12-month low of $9.06 and a 12-month high of $21.38. The stock has a market capitalization of $28.60 billion, a price-to-earnings ratio of -89.63 and a beta of 2.46.

Rocket Companies (NYSE:RKT - Get Free Report) last issued its 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 positive return on equity of 2.86% and a negative net margin of 0.38%. The business had revenue of $647.00 million for the quarter, compared to the consensus estimate of $1.25 billion. During the same period last year, the business posted ($0.01) EPS. The company's revenue was down 46.2% compared to the same quarter last year. Analysts predict that Rocket Companies will post 0.16 earnings per share for the current fiscal year.

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.