Brokerages Set Rocket Companies, Inc. (NYSE:RKT) Price Target at $14.13

Shares of Rocket Companies, Inc. (NYSE:RKT - Get Free Report) have received a consensus rating of "Reduce" from the twelve ratings firms that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $14.13.

Several brokerages have commented on RKT. Barclays raised shares of Rocket Companies from an "underweight" rating to an "equal weight" rating and upped their target price for the company from $10.00 to $14.00 in a research note on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft raised shares of Rocket Companies from a "hold" rating to a "buy" rating and set a $16.00 price objective for the company in a research report on Wednesday, April 2nd. UBS Group lowered their price objective on shares of Rocket Companies from $14.00 to $13.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. Wedbush restated a "neutral" rating and set a $12.00 target price (down previously from $13.00) on shares of Rocket Companies in a report on Friday, May 9th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Rocket Companies from $15.00 to $13.00 and set a "market perform" rating for the company in a report on Monday, May 12th.

Rocket Companies Price Performance

NYSE:RKT traded up $0.37 on Thursday, reaching $13.05. The stock had a trading volume of 9,257,911 shares, compared to its average volume of 5,635,994. The company has a market capitalization of $26.10 billion, a P/E ratio of -81.56 and a beta of 2.33. Rocket Companies has a 1-year low of $10.06 and a 1-year high of $21.38. The company has a quick ratio of 15.47, a current ratio of 15.47 and a debt-to-equity ratio of 1.51. The stock has a fifty day moving average price of $12.72 and a 200-day moving average price of $12.83.

Rocket Companies (NYSE:RKT - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.04 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.04. Rocket Companies had a negative net margin of 0.38% and a positive return on equity of 2.86%. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period in the prior year, the business earned $0.04 earnings per share. Rocket Companies's quarterly revenue was down 10.8% on a year-over-year basis. Research analysts forecast that Rocket Companies will post 0.15 EPS for the current year.

Rocket Companies Cuts Dividend

The company also recently declared a dividend, which was paid on Thursday, April 3rd. Shareholders of record on Thursday, March 20th were paid a $0.80 dividend. The ex-dividend date of this dividend was Thursday, March 20th. Rocket Companies's dividend payout ratio is currently -4,273.33%.

Institutional Trading of Rocket Companies

A number of large investors have recently added to or reduced their stakes in RKT. Barclays PLC lifted its stake in Rocket Companies by 136.2% in the third quarter. Barclays PLC now owns 238,323 shares of the company's stock valued at $4,573,000 after acquiring an additional 137,441 shares during the last quarter. Wealthcare Advisory Partners LLC lifted its stake in Rocket Companies by 75.1% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 28,508 shares of the company's stock valued at $321,000 after acquiring an additional 12,230 shares during the last quarter. Missouri Trust & Investment Co lifted its stake in shares of Rocket Companies by 21.5% during the 4th quarter. Missouri Trust & Investment Co now owns 86,295 shares of the company's stock worth $972,000 after buying an additional 15,260 shares during the last quarter. Lincoln Capital Corp acquired a new stake in shares of Rocket Companies during the 4th quarter worth about $1,831,000. Finally, KBC Group NV lifted its stake in shares of Rocket Companies by 58.1% during the 4th quarter. KBC Group NV now owns 6,056 shares of the company's stock worth $68,000 after buying an additional 2,226 shares during the last quarter. Institutional investors and hedge funds 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.