Rocket Companies (NYSE:RKT) Reaches New 12-Month High at $15.88

Shares of Rocket Companies, Inc. (NYSE:RKT) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $15.88 and last traded at $15.76, with a volume of 1222822 shares trading hands. The stock had previously closed at $15.10.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on RKT. Royal Bank of Canada increased their price target on Rocket Companies from $12.00 to $14.00 and gave the company a “sector perform” rating in a report on Friday, May 3rd. Piper Sandler increased their target price on shares of Rocket Companies from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Tuesday, May 7th. Barclays lifted their price target on shares of Rocket Companies from $9.00 to $10.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 9th. JPMorgan Chase & Co. increased their price objective on shares of Rocket Companies from $11.00 to $13.50 and gave the stock an “underweight” rating in a research report on Monday, July 8th. Finally, Wedbush restated a “neutral” rating and set a $13.00 target price on shares of Rocket Companies in a research report on Friday, May 3rd. Six research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $11.10.

Rocket Companies Stock Up 1.6 %

The company has a 50-day moving average of $14.12 and a 200-day moving average of $13.08. The company has a current ratio of 12.83, a quick ratio of 12.83 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $30.50 billion, a price-to-earnings ratio of 137.33 and a beta of 2.43.

Rocket Companies (NYSE:RKT) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.07 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.08. The firm had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.02 billion. Rocket Companies had a net margin of 0.43% and a negative return on equity of 1.05%. On average, equities analysts predict that Rocket Companies, Inc. will post 0.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rocket Companies

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Rocket Companies by 10.4% in 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. Boston Partners boosted its holdings in Rocket Companies by 4.2% in the first quarter. Boston Partners now owns 9,382,173 shares of the company’s stock valued at $136,462,000 after purchasing an additional 381,841 shares during the last quarter. Capital World Investors grew its position in Rocket Companies by 0.3% during the 4th quarter. Capital World Investors now owns 3,642,099 shares of the company’s stock worth $52,738,000 after purchasing an additional 10,068 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Rocket Companies by 5.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 716,974 shares of the company’s stock valued at $10,382,000 after buying an additional 35,470 shares during the last quarter. Finally, Integrated Investment Consultants LLC raised its stake in shares of Rocket Companies by 1,069.0% during the 4th quarter. Integrated Investment Consultants LLC now owns 650,598 shares of the company’s stock valued at $9,421,000 after buying an additional 594,945 shares during the last quarter. Hedge funds and other 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.