Wedbush reissued their neutral rating on shares of Rocket Companies (NYSE:RKT - Free Report) in a report published on Friday, Benzinga reports. The brokerage currently has a $13.00 price target on the stock.
RKT has been the topic of a number of other research reports. Citigroup increased their price objective on Rocket Companies from $10.00 to $11.00 and gave the stock a sell rating in a report on Wednesday, February 28th. Deutsche Bank Aktiengesellschaft began coverage on Rocket Companies in a research report on Wednesday, January 10th. They set a hold rating and a $10.00 target price for the company. UBS Group increased their price objective on Rocket Companies from $8.50 to $10.00 and gave the company a sell rating in a research report on Monday, February 26th. JPMorgan Chase & Co. reissued 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. Finally, Bank of America increased their price objective on Rocket Companies from $7.00 to $8.00 and gave the company an underperform rating in a research report on Monday, March 18th. Six investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $10.37.
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Rocket Companies Price Performance
NYSE RKT traded up $0.57 on Friday, reaching $13.30. The company's stock had a trading volume of 3,505,604 shares, compared to its average volume of 2,458,715. Rocket Companies has a twelve month low of $7.17 and a twelve month high of $15.19. The company has a debt-to-equity ratio of 0.92, a quick ratio of 9.78 and a current ratio of 9.78. The stock has a market cap of $26.41 billion, a PE ratio of -83.13, a PEG ratio of 9.63 and a beta of 2.43. The firm's 50 day moving average is $12.71 and its two-hundred day moving average is $11.52.
Rocket Companies (NYSE:RKT - Get Free Report) last posted its quarterly earnings data 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). The company had revenue of $885.00 million for the quarter, compared to analyst estimates of $762.44 million. Rocket Companies had a negative return on equity of 3.63% and a negative net margin of 0.41%. Rocket Companies's quarterly revenue was up 29.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.12) EPS. As a group, sell-side analysts predict that Rocket Companies will post 0.26 EPS for the current year.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of RKT. Boston Partners acquired a new position in Rocket Companies during the third quarter worth $47,544,000. Vanguard Group Inc. raised 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 acquiring an additional 1,101,325 shares in the last quarter. QRG Capital Management Inc. acquired a new position in Rocket Companies during the third quarter worth $5,195,000. Integrated Investment Consultants LLC raised its stake in Rocket Companies by 1,069.0% during the fourth quarter. Integrated Investment Consultants LLC now owns 650,598 shares of the company's stock worth $9,421,000 after acquiring an additional 594,945 shares in the last quarter. Finally, Quantbot Technologies LP raised its stake in Rocket Companies by 1,515.5% during the third quarter. Quantbot Technologies LP now owns 170,504 shares of the company's stock worth $1,395,000 after acquiring an additional 159,950 shares in the last quarter. 4.59% of the stock is currently owned by institutional investors and hedge funds.
Rocket Companies Company Profile
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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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