Rocket Companies, Inc. (NYSE:RKT) Receives Average Rating of “Reduce” from Brokerages

Shares of Rocket Companies, Inc. (NYSE:RKTGet Free Report) have been given a consensus recommendation of “Reduce” by the thirteen analysts that are currently covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a sell recommendation and seven have given a hold recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $10.60.

Several equities analysts recently weighed in on the stock. Wells Fargo & Company cut their price target on shares of Rocket Companies from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Friday, February 23rd. Bank of America boosted their price objective on Rocket Companies from $7.00 to $8.00 and gave the company an “underperform” rating in a report on Monday, March 18th. Citigroup raised their price objective on shares of Rocket Companies from $10.00 to $11.00 and gave the stock a “sell” rating in a research note on Wednesday, February 28th. UBS Group increased their price target on shares of Rocket Companies from $8.50 to $10.00 and gave the stock a “sell” rating in a report on Monday, February 26th. Finally, Piper Sandler boosted their price target on shares of Rocket Companies from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Tuesday, May 7th.

View Our Latest Stock Analysis on RKT

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of RKT. Boston Partners boosted its stake in Rocket Companies by 54.8% during the fourth quarter. Boston Partners now owns 9,000,332 shares of the company’s stock worth $130,277,000 after buying an additional 3,186,699 shares during the period. Vanguard Group Inc. boosted its stake in Rocket Companies by 10.4% during the fourth quarter. Vanguard Group Inc. now owns 11,702,838 shares of the company’s stock worth $169,457,000 after buying an additional 1,101,325 shares during the period. QRG Capital Management Inc. purchased a new position in shares of Rocket Companies in the third quarter valued at approximately $5,195,000. Integrated Investment Consultants LLC boosted its stake in shares of Rocket Companies by 1,069.0% in the fourth quarter. Integrated Investment Consultants LLC now owns 650,598 shares of the company’s stock valued at $9,421,000 after purchasing an additional 594,945 shares during the period. Finally, Jacobs Levy Equity Management Inc. purchased a new position in shares of Rocket Companies in the first quarter valued at approximately $2,698,000. Hedge funds and other institutional investors own 4.59% of the company’s stock.

Rocket Companies Stock Performance

Shares of RKT opened at $14.36 on Thursday. Rocket Companies has a 12 month low of $7.17 and a 12 month high of $15.60. The stock has a fifty day moving average price of $13.33 and a 200-day moving average price of $12.70. 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 firm has a market cap of $28.54 billion, a PE ratio of 130.50 and a beta of 2.44.

Rocket Companies (NYSE:RKTGet Free Report) last issued its earnings results on Thursday, May 2nd. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.08. The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.02 billion. Rocket Companies had a negative return on equity of 1.05% and a net margin of 0.43%. Equities research analysts predict that Rocket Companies will post 0.24 earnings per share for the current fiscal year.

Rocket Companies Company Profile

(Get Free Report

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.

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Analyst Recommendations for Rocket Companies (NYSE:RKT)

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