Rocket Companies, Inc. (NYSE:RKT - Get Free Report)'s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $11.08, but opened at $12.10. Rocket Companies shares last traded at $11.90, with a volume of 1,910,677 shares changing hands.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Rocket Companies from $14.00 to $10.50 and set an "underweight" rating on the stock in a research note on Tuesday. Keefe, Bruyette & Woods cut their price target on Rocket Companies from $11.50 to $10.50 and set an "underperform" rating for the company in a report on Friday, January 3rd. The Goldman Sachs Group decreased their price objective on shares of Rocket Companies from $16.00 to $14.00 and set a "neutral" rating on the stock in a report on Tuesday, January 7th. Morgan Stanley cut their target price on shares of Rocket Companies from $16.00 to $13.00 and set an "equal weight" rating for the company in a research note on Thursday, December 19th. Finally, Bank of America upped their price target on shares of Rocket Companies from $14.00 to $15.00 and gave the company an "underperform" rating in a research note on Thursday, November 14th. Five investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat.com, Rocket Companies has an average rating of "Hold" and an average price target of $13.50.
Check Out Our Latest Stock Analysis on Rocket Companies
Rocket Companies Stock Performance
The stock has a market cap of $23.66 billion, a P/E ratio of -74.14 and a beta of 2.42. The company has a current ratio of 15.47, a quick ratio of 15.47 and a debt-to-equity ratio of 1.51. The stock has a 50 day simple moving average of $12.58 and a 200 day simple moving average of $15.73.
Rocket Companies (NYSE:RKT - Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.08 EPS for the quarter, hitting analysts' consensus estimates of $0.08. The company had revenue of $647.00 million for the quarter, compared to analysts' expectations of $1.25 billion. Rocket Companies had a positive return on equity of 2.86% and a negative net margin of 0.38%. Rocket Companies's revenue was down 46.2% on a year-over-year basis. During the same quarter last year, the business earned ($0.01) earnings per share. On average, equities analysts expect that Rocket Companies, Inc. will post 0.16 earnings per share for the current year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Wedmont Private Capital raised its holdings in Rocket Companies by 8.9% in the 3rd quarter. Wedmont Private Capital now owns 15,937 shares of the company's stock valued at $279,000 after buying an additional 1,305 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in Rocket Companies in the 3rd quarter valued at approximately $39,000. Blue Trust Inc. increased its position in Rocket Companies by 54.1% in the 3rd 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 period. DMC Group LLC raised its stake in shares of Rocket Companies by 8.1% during the third 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. Finally, Kingfisher Capital LLC lifted its holdings in shares of Rocket Companies by 1.4% during the second quarter. Kingfisher Capital LLC now owns 183,083 shares of the company's stock worth $2,508,000 after purchasing an additional 2,606 shares during the period. Institutional investors own 4.59% of the company's stock.
Rocket Companies Company Profile
(
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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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