Rocket Companies, Inc. (NYSE:RKT) Receives $10.02 Average Target Price from Analysts

Shares of Rocket Companies, Inc. (NYSE:RKT) have been assigned an average rating of “Reduce” from the thirteen research firms that are currently covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $10.02.

RKT has been the subject of several analyst reports. Citigroup boosted their price target on shares of Rocket Companies from $10.00 to $11.00 and gave the stock a “sell” rating in a report on Wednesday, February 28th. Bank of America boosted their price objective on shares of Rocket Companies from $7.00 to $8.00 and gave the stock an “underperform” rating in a research report on Monday, March 18th. Wells Fargo & Company reduced their price objective on shares of Rocket Companies from $14.00 to $13.00 and set an “equal weight” rating for the company in a research report on Friday, February 23rd. UBS Group boosted their price objective on shares of Rocket Companies from $8.50 to $10.00 and gave the stock a “sell” rating in a research report on Monday, February 26th. Finally, Keefe, Bruyette & Woods restated an “underperform” rating and set a $10.75 price objective on shares of Rocket Companies in a research report on Wednesday, January 3rd.

Rocket Companies Trading Up 5.6 %

NYSE RKT opened at $12.64 on Wednesday. The company has a quick ratio of 9.78, a current ratio of 9.78 and a debt-to-equity ratio of 0.92. Rocket Companies has a 52 week low of $7.17 and a 52 week high of $15.19. The stock has a market capitalization of $25.09 billion, a PE ratio of -78.97, a price-to-earnings-growth ratio of 9.73 and a beta of 2.41. The firm has a 50 day moving average of $12.55 and a two-hundred day moving average of $11.35.

Rocket Companies (NYSE:RKT) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). Rocket Companies had a negative return on equity of 3.63% and a negative net margin of 0.41%. The firm had revenue of $885.00 million for the quarter, compared to analyst estimates of $762.44 million. During the same quarter last year, the firm earned ($0.12) EPS. The company’s revenue was up 29.6% on a year-over-year basis. As a group, research analysts expect that Rocket Companies will post 0.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Rocket Companies

Several institutional investors have recently bought and sold shares of RKT. Wealthcare Advisory Partners LLC increased its stake in Rocket Companies by 21.2% in the 3rd quarter. Wealthcare Advisory Partners LLC now owns 21,503 shares of the company’s stock valued at $176,000 after buying an additional 3,763 shares during the period. Global Retirement Partners LLC increased its stake in Rocket Companies by 9.1% in the 3rd quarter. Global Retirement Partners LLC now owns 65,913 shares of the company’s stock valued at $502,000 after buying an additional 5,525 shares during the period. First Affirmative Financial Network acquired a new position in Rocket Companies in the 3rd quarter valued at $93,000. Financial Enhancement Group LLC acquired a new position in Rocket Companies in the 3rd quarter valued at $804,000. Finally, Oak Thistle LLC increased its stake in Rocket Companies by 29.2% in the 3rd quarter. Oak Thistle LLC now owns 35,220 shares of the company’s stock valued at $288,000 after buying an additional 7,960 shares during the period. 4.59% of the stock is owned by institutional investors and hedge funds.

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.