Shares of Rocket Companies, Inc. (NYSE:RKT - Get Free Report) traded up 6.9% on Monday . The company traded as high as $12.71 and last traded at $12.85. 733,520 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 2,880,729 shares. The stock had previously closed at $12.02.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on the company. Morgan Stanley decreased their price objective on 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. Barclays decreased their target price on Rocket Companies from $14.00 to $13.00 and set an "underweight" rating for the company in a research report on Wednesday, November 13th. Royal Bank of Canada cut their price target on shares of Rocket Companies from $20.00 to $18.00 and set a "sector perform" rating on the stock in a research report on Wednesday, November 13th. The Goldman Sachs Group decreased their price objective on shares of Rocket Companies from $16.00 to $14.00 and set a "neutral" rating for the company in a report on Tuesday, January 7th. Finally, Wedbush reiterated a "neutral" rating and issued a $13.00 target price (down from $18.00) on shares of Rocket Companies in a report on Wednesday, November 13th. Five equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $13.50.
Check Out Our Latest Analysis on Rocket Companies
Rocket Companies Stock Performance
The stock has a fifty day simple moving average of $12.15 and a 200-day simple moving average of $15.62. The stock has a market cap of $25.12 billion, a P/E ratio of -78.72 and a beta of 2.42. The company has a debt-to-equity ratio of 1.51, a quick ratio of 15.47 and a current ratio of 15.47.
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 business had revenue of $647.00 million during the quarter, compared to the consensus estimate 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 quarterly revenue was down 46.2% on a year-over-year basis. During the same period last year, the company earned ($0.01) earnings per share. On average, equities analysts expect that Rocket Companies, Inc. will post 0.15 earnings per share for the current year.
Institutional Investors Weigh In On Rocket Companies
Several institutional investors and hedge funds have recently added to or reduced their stakes in RKT. State Street Corp raised its stake in shares of Rocket Companies by 44.7% during the 3rd quarter. State Street Corp now owns 4,108,189 shares of the company's stock worth $78,836,000 after purchasing an additional 1,269,795 shares in the last quarter. Geode Capital Management LLC raised its position in Rocket Companies by 0.6% during the third quarter. Geode Capital Management LLC now owns 2,043,975 shares of the company's stock worth $39,235,000 after acquiring an additional 12,735 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Rocket Companies by 7.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,040,709 shares of the company's stock valued at $19,971,000 after acquiring an additional 72,308 shares during the last quarter. Philip James Wealth Mangement LLC bought a new position in shares of Rocket Companies in the 3rd quarter valued at about $6,811,000. Finally, Tidal Investments LLC grew its position 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 period. 4.59% of the stock is owned by institutional investors.
Rocket Companies Company Profile
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Get Free Report)
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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