Rocket Companies (NYSE:RKT) PT Raised to $13.00 at Piper Sandler

Rocket Companies (NYSE:RKT - Free Report) had its price objective upped by Piper Sandler from $12.00 to $13.00 in a report published on Tuesday morning, Benzinga reports. They currently have a neutral rating on the stock.

Several other equities research analysts also recently weighed in on the stock. Wedbush reaffirmed a neutral rating and set a $13.00 target price on shares of Rocket Companies in a research note on Friday. Royal Bank of Canada lifted their target price on Rocket Companies from $12.00 to $14.00 and gave the company a sector perform rating in a report on Friday. Deutsche Bank Aktiengesellschaft began coverage on Rocket Companies in a report on Wednesday, January 10th. They set a hold rating and a $10.00 price target on the stock. Bank of America boosted their price objective on Rocket Companies from $7.00 to $8.00 and gave the stock an underperform rating in a research report on Monday, March 18th. Finally, JPMorgan Chase & Co. raised their target price on shares of Rocket Companies from $10.50 to $11.00 and gave the company an underweight rating in a report on Friday. Six investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of Hold and a consensus target price of $10.60.

Rocket Companies Trading Up 1.3 %

Shares of NYSE:RKT traded up $0.18 during mid-day trading on Tuesday, reaching $13.99. 2,950,535 shares of the company were exchanged, compared to its average volume of 2,468,025. The firm has a market cap of $27.78 billion, a price-to-earnings ratio of 127.19, a P/E/G ratio of 10.36 and a beta of 2.43. The company has a debt-to-equity ratio of 1.20, a current ratio of 12.83 and a quick ratio of 9.78. Rocket Companies has a 1 year low of $7.17 and a 1 year high of $15.19. The firm's 50-day simple moving average is $12.79 and its 200 day simple moving average is $11.65.

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 analysts' consensus estimates of ($0.05) by ($0.01). Rocket Companies had a net margin of 0.43% and a negative return on equity of 1.05%. The firm had revenue of $885.00 million during the quarter, compared to analyst estimates of $762.44 million. During the same period in the previous year, the firm posted ($0.12) earnings per share. The company's quarterly revenue was up 29.6% compared to the same quarter last year. Equities research analysts forecast that Rocket Companies will post 0.26 EPS for the current year.

Institutional Trading of Rocket Companies

Several institutional investors and hedge funds have recently bought and sold shares of the business. Principal Securities Inc. acquired a new position in shares of Rocket Companies in the fourth quarter valued at approximately $26,000. Vima LLC acquired a new position in Rocket Companies in the 4th quarter valued at $31,000. Tennessee Valley Asset Management Partners purchased a new position in Rocket Companies during the 4th quarter worth $37,000. Westpac Banking Corp lifted its stake in shares of Rocket Companies by 61.8% in the 4th quarter. Westpac Banking Corp now owns 5,927 shares of the company's stock worth $86,000 after acquiring an additional 2,264 shares during the period. Finally, Principal Financial Group Inc. acquired a new position in shares of Rocket Companies during the first quarter worth about $150,000. Hedge funds and other 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.