Rocket Companies (NYSE:RKT) PT Raised to $11.00

Rocket Companies (NYSE:RKT - Get Free Report) had its price target lifted by research analysts at JPMorgan Chase & Co. from $10.50 to $11.00 in a report issued on Friday, Benzinga reports. The firm currently has an "underweight" rating on the stock. JPMorgan Chase & Co.'s target price would suggest a potential downside of 17.29% from the stock's current price.

Other equities research analysts have also issued research reports about the stock. Bank of America upped their target price on shares of Rocket Companies from $7.00 to $8.00 and gave the stock an "underperform" rating in a report on Monday, March 18th. Royal Bank of Canada upped their target price on shares of Rocket Companies from $12.00 to $14.00 and gave the stock a "sector perform" rating in a report on Friday. UBS Group upped their target price 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. Citigroup increased their price objective on shares of Rocket Companies from $10.00 to $11.00 and gave the company a "sell" rating in a research note on Wednesday, February 28th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Rocket Companies in a research note on Wednesday, January 10th. They issued a "hold" rating and a $10.00 price objective for the company. Six investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $10.37.

Rocket Companies Trading Up 4.5 %

Shares of Rocket Companies stock traded up $0.57 during trading on Friday, hitting $13.30. The company's stock had a trading volume of 3,505,604 shares, compared to its average volume of 2,458,715. The company has a debt-to-equity ratio of 0.92, a current ratio of 9.78 and a quick ratio of 9.78. Rocket Companies has a 52 week low of $7.17 and a 52 week high of $15.19. The stock has a market cap of $26.41 billion, a price-to-earnings ratio of -83.13, a price-to-earnings-growth ratio of 9.63 and a beta of 2.43. The stock has a 50-day moving average price of $12.71 and a two-hundred day moving average price of $11.52.

Rocket Companies (NYSE:RKT - Get Free Report) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The business had revenue of $885.00 million during the quarter, compared to the consensus estimate of $762.44 million. Rocket Companies had a negative return on equity of 3.63% and a negative net margin of 0.41%. The business's revenue for the quarter was up 29.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.12) EPS. Equities research analysts anticipate that Rocket Companies will post 0.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of RKT. Vanguard Group Inc. boosted its holdings in 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 purchasing an additional 1,101,325 shares during the period. FMR LLC raised its position in shares of Rocket Companies by 1.1% during the 3rd quarter. FMR LLC now owns 11,540,617 shares of the company's stock valued at $94,402,000 after buying an additional 122,894 shares in the last quarter. Boston Partners raised its position in shares of Rocket Companies by 54.8% during the 4th quarter. Boston Partners now owns 9,000,332 shares of the company's stock valued at $130,277,000 after buying an additional 3,186,699 shares in the last quarter. Capital World Investors raised its position in shares of Rocket Companies by 0.3% during the 4th quarter. Capital World Investors now owns 3,642,099 shares of the company's stock valued at $52,738,000 after buying an additional 10,068 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Rocket Companies by 5.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 716,974 shares of the company's stock worth $10,382,000 after purchasing an additional 35,470 shares during the period. 4.59% of the stock is owned by institutional investors.

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.

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