Rocket Companies (NYSE:RKT) Shares Up 5.9%

Rocket Companies, Inc. (NYSE:RKT - Get Free Report)'s stock price traded up 5.9% during mid-day trading on Monday . The company traded as high as $13.74 and last traded at $13.72. 1,553,103 shares changed hands during mid-day trading, a decline of 38% from the average session volume of 2,500,000 shares. The stock had previously closed at $12.95.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Citigroup raised their target price 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. Wedbush reaffirmed a "neutral" rating and set a $13.00 price target on shares of Rocket Companies in a report on Friday, February 23rd. Deutsche Bank Aktiengesellschaft initiated coverage on Rocket Companies in a report on Wednesday, January 10th. They set a "hold" rating and a $10.00 price target for the company. Wells Fargo & Company decreased their price objective on Rocket Companies from $14.00 to $13.00 and set an "equal weight" rating on the stock in a research report on Friday, February 23rd. Finally, JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $10.50 price objective (up from $8.50) on shares of Rocket Companies in a research report on Thursday, January 4th. Six 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, the stock has a consensus rating of "Hold" and a consensus target price of $10.02.

Rocket Companies Price Performance

The firm has a market cap of $27.47 billion, a price-to-earnings ratio of -85.69, a P/E/G ratio of 10.72 and a beta of 2.41. 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 50 day moving average of $12.49 and a 200 day moving average of $10.99.

Rocket Companies (NYSE:RKT - Get Free Report) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($0.06) 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 for the quarter, compared to analyst estimates of $762.44 million. During the same period in the previous year, the business posted ($0.12) EPS. The business's quarterly revenue was up 29.6% compared to the same quarter last year. Equities research analysts predict that Rocket Companies, Inc. will post 0.24 EPS for the current fiscal year.

Institutional Trading of Rocket Companies

Hedge funds and other institutional investors have recently modified their holdings of the company. Aigen Investment Management LP acquired a new stake in shares of Rocket Companies in the 3rd quarter valued at about $786,000. QRG Capital Management Inc. bought a new position in Rocket Companies during the third quarter worth about $5,195,000. Bank of New York Mellon Corp grew its holdings in Rocket Companies by 20.3% during the third quarter. Bank of New York Mellon Corp now owns 430,251 shares of the company's stock worth $3,519,000 after purchasing an additional 72,465 shares during the period. Strs Ohio bought a new position in Rocket Companies during the third quarter worth about $925,000. Finally, Boston Partners bought a new position in Rocket Companies during the third quarter worth about $47,544,000. Institutional investors and hedge funds own 4.59% of the company's stock.

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.