Rocket Companies, Inc. (NYSE:RKT) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts give Rocket Companies a “Moderate Buy” consensus: Ten of 19 analysts rate the stock a buy, while nine recommend holding it. The average one-year price target is $19.87, above the reported $14.79 share price.
• Recent quarterly results were mixed: Rocket matched earnings expectations at $0.16 per share, while revenue of $2.76 billion fell short of the $2.81 billion forecast. Revenue nevertheless increased 91.9% year over year.
• Shares remain volatile and below their 52-week high: Rocket’s stock was down 1.7%, with a 52-week range of $12.17 to $24.36 and a beta of 2.19. Institutional investors own 4.59% of the company.

Rocket Companies, Inc. (NYSE:RKT - Get Free Report) has received an average recommendation of "Moderate Buy" from the nineteen analysts that are currently covering the firm, MarketBeat Ratings reports. Nine analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $19.8667.

A number of research analysts recently weighed in on the company. Royal Bank Of Canada reissued a "sector perform" rating and set a $16.00 target price (up from $15.00) on shares of Rocket Companies in a report on Wednesday. Keefe, Bruyette & Woods decreased their price objective on shares of Rocket Companies from $20.00 to $19.00 and set an "outperform" rating on the stock in a report on Monday, August 10th. BTIG Research reaffirmed a "neutral" rating on shares of Rocket Companies in a report on Tuesday, June 16th. Stephens decreased their price target on shares of Rocket Companies from $22.50 to $20.00 and set an "overweight" rating on the stock in a research note on Friday, August 7th. Finally, Benchmark cut their price objective on shares of Rocket Companies from $21.00 to $19.00 and set a "buy" rating for the company in a research report on Friday, August 7th.

Rocket Companies Stock Down 1.7%

Rocket Companies stock opened at $14.79 on Friday. The company has a debt-to-equity ratio of 1.16, a current ratio of 4.85 and a quick ratio of 4.37. The company's 50-day moving average is $14.10 and its 200-day moving average is $15.21. The firm has a market capitalization of $41.83 billion, a PE ratio of 105.61 and a beta of 2.19. Rocket Companies has a fifty-two week low of $12.17 and a fifty-two week high of $24.36.

Rocket Companies (NYSE:RKT - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.16 EPS for the quarter, hitting analysts' consensus estimates of $0.16. The business had revenue of $2.76 billion during the quarter, compared to analysts' expectations of $2.81 billion. Rocket Companies had a return on equity of 5.13% and a net margin of 4.70%.Rocket Companies's quarterly revenue was up 91.9% on a year-over-year basis. During the same quarter last year, the company posted $0.04 earnings per share. Sell-side analysts anticipate that Rocket Companies will post 0.54 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Truvestments Capital LLC bought a new position in Rocket Companies during the fourth quarter worth about $26,000. Acumen Wealth Advisors LLC acquired a new position in shares of Rocket Companies during the 4th quarter worth approximately $26,000. City State Bank bought a new position in shares of Rocket Companies during the fourth quarter worth approximately $30,000. Smithfield Trust Co acquired a new stake in shares of Rocket Companies in the fourth quarter valued at approximately $32,000. Finally, Key Financial Inc bought a new stake in shares of Rocket Companies in the fourth quarter valued at approximately $32,000. Institutional investors own 4.59% of the company's stock.

About Rocket Companies

Rocket Companies, Inc is a Detroit-based holding company whose businesses are centered on digital mortgage origination and related consumer finance and real estate services. The company grew out of the Quicken Loans franchise and completed an initial public offering in 2020. Founder Dan Gilbert remains a prominent figure associated with the firm, which operates a suite of brands that aim to simplify the home financing and buying experience through technology and scale.

The company's core activity is mortgage lending through its Rocket Mortgage platform, which offers online application, underwriting and servicing for home purchase and refinance loans.

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