Rocket Companies, Inc. (NYSE:RKT) Given Average Rating of “Reduce” by Analysts

Shares of Rocket Companies, Inc. (NYSE:RKT) have earned an average rating of “Reduce” from the eleven ratings firms that are currently covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a sell recommendation and six have issued a hold recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $14.89.

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. raised their target price on Rocket Companies from $15.00 to $19.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Keefe, Bruyette & Woods raised Rocket Companies from an “underperform” rating to a “market perform” rating in a report on Monday, August 5th. UBS Group lifted their price objective on Rocket Companies from $11.50 to $14.00 and gave the stock a “sell” rating in a report on Monday, September 16th. Deutsche Bank Aktiengesellschaft lifted their price objective on Rocket Companies from $11.00 to $15.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. Finally, Royal Bank of Canada lifted their price objective on Rocket Companies from $16.00 to $20.00 and gave the stock a “sector perform” rating in a report on Wednesday, September 11th.

Rocket Companies Trading Up 1.1 %

NYSE RKT opened at $17.74 on Wednesday. The firm has a market capitalization of $35.29 billion, a P/E ratio of 253.46 and a beta of 2.44. The business has a fifty day simple moving average of $18.99 and a 200 day simple moving average of $15.68. Rocket Companies has a 12 month low of $7.17 and a 12 month high of $21.38. The company has a current ratio of 13.18, a quick ratio of 13.18 and a debt-to-equity ratio of 1.27.

Rocket Companies (NYSE:RKT) last announced its earnings results on Thursday, August 1st. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.01. Rocket Companies had a return on equity of 0.90% and a net margin of 0.29%. The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same period last year, the firm posted ($0.05) EPS. The business’s revenue was up 5.3% compared to the same quarter last year. On average, analysts predict that Rocket Companies will post 0.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in RKT. Capital Fund Management S.A. boosted its stake in Rocket Companies by 27.8% in the 4th quarter. Capital Fund Management S.A. now owns 502,110 shares of the company’s stock worth $7,271,000 after purchasing an additional 109,278 shares during the period. Kingfisher Capital LLC boosted its position in shares of Rocket Companies by 16.7% during the 4th quarter. Kingfisher Capital LLC now owns 178,618 shares of the company’s stock valued at $2,586,000 after acquiring an additional 25,520 shares during the last quarter. Vima LLC bought a new stake in shares of Rocket Companies during the 4th quarter valued at about $31,000. Vanguard Group Inc. boosted its position in shares of Rocket Companies by 10.4% during the 4th quarter. Vanguard Group Inc. now owns 11,702,838 shares of the company’s stock valued at $169,457,000 after acquiring an additional 1,101,325 shares during the last quarter. Finally, Wedmont Private Capital bought a new stake in shares of Rocket Companies during the 1st quarter valued at about $154,000. Institutional investors own 4.59% of the company’s stock.

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.