UBS Group Has Lowered Expectations for Rocket Companies (NYSE:RKT) Stock Price

Rocket Companies (NYSE:RKT - Free Report) had its price target reduced by UBS Group from $14.00 to $12.50 in a research report sent to investors on Thursday,Benzinga reports. UBS Group currently has a sell rating on the stock.

A number of other research analysts also recently commented on RKT. Wedbush reiterated a "neutral" rating and set a $13.00 target price (down from $18.00) on shares of Rocket Companies in a research report on Wednesday. Keefe, Bruyette & Woods dropped their price objective on shares of Rocket Companies from $20.00 to $16.00 and set a "market perform" rating for the company in a research note on Thursday. Deutsche Bank Aktiengesellschaft lifted their price target on Rocket Companies from $11.00 to $15.00 and gave the stock a "hold" rating in a research report on Friday, August 2nd. Bank of America lifted their target price on Rocket Companies from $12.00 to $14.00 and gave the stock an "underperform" rating in a report on Thursday, August 29th. Finally, 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 for the company in a research note on Wednesday. Five investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $15.13.

Rocket Companies Price Performance

RKT traded down $0.48 during trading on Thursday, reaching $13.66. 4,979,681 shares of the company traded hands, compared to its average volume of 2,899,341. The company has a market cap of $27.17 billion, a P/E ratio of -85.88 and a beta of 2.46. The company has a debt-to-equity ratio of 1.27, a quick ratio of 13.18 and a current ratio of 13.18. Rocket Companies has a 12-month low of $8.81 and a 12-month high of $21.38. The firm has a fifty day simple moving average of $17.78 and a 200 day simple moving average of $16.27.

Rocket Companies (NYSE:RKT - Get Free Report) last posted its earnings results on Tuesday, November 12th. The company reported $0.08 earnings per share 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 2.84%. The company had revenue of $647.00 million during the quarter, compared to analysts' expectations of $1.25 billion. During the same period last year, the company posted ($0.01) earnings per share. Rocket Companies's quarterly revenue was down 46.2% on a year-over-year basis. On average, equities analysts forecast that Rocket Companies will post 0.22 EPS for the current year.

Hedge Funds Weigh In On Rocket Companies

Institutional investors and hedge funds have recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new position in shares of Rocket Companies in the third quarter worth about $39,000. Quarry LP raised 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 buying an additional 3,899 shares during the last quarter. Blue Trust Inc. acquired a new stake in Rocket Companies during the 2nd quarter valued at approximately $61,000. EntryPoint Capital LLC purchased a new stake in shares of Rocket Companies in the 1st quarter valued at $77,000. Finally, V Square Quantitative Management LLC acquired a new stake in shares of Rocket Companies in the third quarter worth $120,000. 4.59% of the stock is owned by hedge funds and other institutional investors.

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.