Rocket Companies, Inc. (NYSE:RKT) Receives $10.02 Average Price Target from Analysts

Rocket Companies, Inc. (NYSE:RKT - Get Free Report) has been given an average rating of "Reduce" by the thirteen analysts that are currently covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a sell recommendation and seven have assigned a hold recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $10.02.

Several analysts have recently weighed in on RKT shares. Wedbush reaffirmed a "neutral" rating and set a $13.00 price objective on shares of Rocket Companies in a report on Friday, February 23rd. Deutsche Bank Aktiengesellschaft started coverage on shares of Rocket Companies in a report on Wednesday, January 10th. They set a "hold" rating and a $10.00 price objective for the company. JPMorgan Chase & Co. reaffirmed an "underweight" rating and set a $10.50 price objective (up previously from $8.50) on shares of Rocket Companies in a report on Thursday, January 4th. Keefe, Bruyette & Woods reaffirmed an "underperform" rating and set a $10.75 price objective on shares of Rocket Companies in a report on Wednesday, January 3rd. Finally, Wells Fargo & Company dropped their price objective on shares of Rocket Companies from $14.00 to $13.00 and set an "equal weight" rating for the company in a report on Friday, February 23rd.

Hedge Funds Weigh In On Rocket Companies

A number of hedge funds and other institutional investors have recently bought and sold shares of RKT. Boston Partners bought a new position in Rocket Companies in the third quarter valued at approximately $47,544,000. Vanguard Group Inc. boosted its stake in Rocket Companies by 29.0% in the first quarter. Vanguard Group Inc. now owns 10,028,437 shares of the company's stock valued at $111,517,000 after acquiring an additional 2,252,066 shares during the last quarter. Balyasny Asset Management L.P. bought a new position in Rocket Companies in the first quarter valued at approximately $17,865,000. Renaissance Technologies LLC boosted its stake in Rocket Companies by 378.7% in the first quarter. Renaissance Technologies LLC now owns 2,357,100 shares of the company's stock valued at $26,211,000 after acquiring an additional 1,864,700 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its stake in Rocket Companies by 1,336.6% in the fourth quarter. Alliancebernstein L.P. now owns 1,817,985 shares of the company's stock valued at $12,726,000 after acquiring an additional 1,691,435 shares during the last quarter. 4.59% of the stock is owned by institutional investors.

Rocket Companies Price Performance

NYSE:RKT traded down $0.05 during mid-day trading on Wednesday, hitting $11.39. The company's stock had a trading volume of 1,414,648 shares, compared to its average volume of 2,537,469. Rocket Companies has a fifty-two week low of $7.17 and a fifty-two week high of $15.19. The company has a current ratio of 9.78, a quick ratio of 9.78 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $22.61 billion, a price-to-earnings ratio of -71.44, a P/E/G ratio of 9.59 and a beta of 2.42. The stock has a fifty day moving average of $12.53 and a 200-day moving average of $11.20.

Rocket Companies (NYSE:RKT - Get Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). Rocket Companies had a negative return on equity of 3.63% and a negative net margin of 0.41%. The business had revenue of $885.00 million during the quarter, compared to analyst estimates of $762.44 million. During the same period last year, the company earned ($0.12) EPS. The business's revenue for the quarter was up 29.6% on a year-over-year basis. As a group, equities analysts forecast that Rocket Companies will post 0.24 EPS for the current fiscal year.

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.