Rocket Companies (NYSE:RKT) Price Target Raised to $15.00

Rocket Companies (NYSE:RKT) had its target price lifted by Bank of America from $14.00 to $15.00 in a research note released on Thursday morning, Marketbeat Ratings reports. They currently have an underperform rating on the stock.

Other equities analysts have also issued reports about the company. UBS Group dropped 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. JPMorgan Chase & Co. boosted their target price on shares of Rocket Companies from $15.00 to $19.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Morgan Stanley began coverage on shares of Rocket Companies in a research note on Tuesday, November 5th. They set an “equal weight” rating and a $18.00 target price on the stock. Barclays decreased their price target on shares of Rocket Companies from $14.00 to $13.00 and set an “underweight” rating for the company in a research note on Wednesday. Finally, Wedbush reissued a “neutral” rating and set a $13.00 price objective (down previously from $18.00) on shares of Rocket Companies in a research report on Wednesday. Five research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to MarketBeat.com, Rocket Companies currently has a consensus rating of “Hold” and an average price target of $15.13.

Rocket Companies Trading Down 0.4 %

Shares of NYSE RKT opened at $13.60 on Thursday. The company has a debt-to-equity ratio of 1.51, a current ratio of 15.47 and a quick ratio of 13.18. Rocket Companies has a twelve month low of $8.81 and a twelve month high of $21.38. The firm has a fifty day simple moving average of $17.54 and a 200 day simple moving average of $16.29.

Rocket Companies (NYSE:RKT) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.08 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.08. The firm 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%. The business’s revenue was down 46.2% compared to the same quarter last year. During the same period last year, the business posted ($0.01) EPS. On average, equities research analysts predict that Rocket Companies will post 0.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Rocket Companies

Several large investors have recently added to or reduced their stakes in the business. Capital Performance Advisors LLP bought a new stake in Rocket Companies during the 3rd quarter worth approximately $39,000. Quarry LP grew its holdings in Rocket Companies by 858.8% during the second quarter. Quarry LP now owns 4,353 shares of the company’s stock worth $60,000 after buying an additional 3,899 shares in the last quarter. Blue Trust Inc. purchased a new stake in Rocket Companies in the 2nd quarter valued at $61,000. EntryPoint Capital LLC bought a new position in Rocket Companies during the 1st quarter valued at $77,000. Finally, V Square Quantitative Management LLC purchased a new position in Rocket Companies during the 3rd quarter worth $120,000. Institutional investors 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.