Brokerages Set Rocket Companies, Inc. (NYSE:RKT) Target Price at $15.13

Rocket Companies, Inc. (NYSE:RKT) has earned a consensus recommendation of “Reduce” from the twelve research firms that are currently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a sell recommendation and seven have assigned a hold recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $15.13.

Several research analysts have issued reports on the company. Bank of America upped their price objective on Rocket Companies from $14.00 to $15.00 and gave the stock an “underperform” rating in a report on Thursday, November 14th. Piper Sandler cut their price target on Rocket Companies from $17.00 to $16.00 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. UBS Group cut 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. Royal Bank of Canada cut 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. Finally, Morgan Stanley initiated 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.

Rocket Companies Stock Down 2.1 %

NYSE:RKT opened at $13.75 on Thursday. The stock’s fifty day moving average price is $16.14 and its two-hundred day moving average price is $16.31. Rocket Companies has a 52-week low of $9.64 and a 52-week high of $21.38. The company has a debt-to-equity ratio of 1.51, a quick ratio of 15.47 and a current ratio of 15.47. The company has a market cap of $27.43 billion, a price-to-earnings ratio of -85.94 and a beta of 2.38.

Rocket Companies (NYSE:RKT) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.08 earnings per share (EPS) for the quarter, hitting 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 firm had revenue of $647.00 million for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the prior year, the business earned ($0.01) EPS. The business’s revenue for the quarter was down 46.2% compared to the same quarter last year. On average, analysts anticipate that Rocket Companies will post 0.16 EPS for the current year.

Institutional Trading of Rocket Companies

Hedge funds have recently added to or reduced their stakes in the business. Capital Performance Advisors LLP acquired a new stake in Rocket Companies during the 3rd quarter worth $39,000. Blue Trust Inc. bought a new position in Rocket Companies during the 2nd quarter worth about $61,000. Quarry LP increased its holdings 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 purchasing an additional 3,899 shares in the last quarter. V Square Quantitative Management LLC bought a new position in Rocket Companies during the 3rd quarter worth about $120,000. Finally, International Assets Investment Management LLC increased its holdings in Rocket Companies by 3,429.7% during the 3rd quarter. International Assets Investment Management LLC now owns 7,377 shares of the company’s stock worth $142,000 after purchasing an additional 7,168 shares in the last quarter. Institutional investors and hedge funds own 4.59% of the company’s stock.

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.