Rocket Companies (NYSE:RKT) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Rocket Companies (NYSE:RKT - Free Report) had its price objective lifted by Keefe, Bruyette & Woods from $13.00 to $14.00 in a research note released on Thursday,Benzinga reports. The firm currently has a market perform rating on the stock.

Several other research analysts also recently issued reports on the stock. UBS Group upped their price target on shares of Rocket Companies from $13.00 to $14.00 and gave the stock a "neutral" rating in a research report on Thursday, May 29th. The Goldman Sachs Group boosted their price target on shares of Rocket Companies from $14.00 to $16.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. Royal Bank Of Canada restated a "sector perform" rating and issued a $18.00 price objective on shares of Rocket Companies in a report on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft upgraded shares of Rocket Companies from a "hold" rating to a "buy" rating and set a $16.00 price objective on the stock in a report on Wednesday, April 2nd. Finally, Barclays upgraded shares of Rocket Companies from an "underweight" rating to an "equal weight" rating and increased their price objective for the company from $10.00 to $14.00 in a report on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $14.46.

Rocket Companies Price Performance

NYSE RKT traded down $0.11 on Thursday, hitting $13.68. 11,678,385 shares of the company were exchanged, compared to its average volume of 7,040,922. The firm has a 50 day moving average of $13.23 and a two-hundred day moving average of $12.91. The company has a market cap of $27.36 billion, a P/E ratio of -456.00 and a beta of 2.28. The company has a current ratio of 12.62, a quick ratio of 12.62 and a debt-to-equity ratio of 1.37. Rocket Companies has a 1-year low of $10.06 and a 1-year high of $21.38.

Rocket Companies (NYSE:RKT - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.04 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.04. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.26 billion. Rocket Companies had a net margin of 0.06% and a return on equity of 3.61%. The firm's quarterly revenue was down 10.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.04 EPS. On average, equities analysts predict that Rocket Companies will post 0.15 EPS for the current year.

Institutional Investors Weigh In On Rocket Companies

Several hedge funds have recently bought and sold shares of the company. Farther Finance Advisors LLC raised its holdings in Rocket Companies by 1,617.9% in the second quarter. Farther Finance Advisors LLC now owns 16,543 shares of the company's stock worth $235,000 after purchasing an additional 15,580 shares during the period. Lincoln Capital Corp raised its holdings in Rocket Companies by 304.1% in the second quarter. Lincoln Capital Corp now owns 270,614 shares of the company's stock worth $3,837,000 after purchasing an additional 203,639 shares during the period. Harbor Capital Advisors Inc. raised its holdings in Rocket Companies by 19.3% in the second quarter. Harbor Capital Advisors Inc. now owns 57,668 shares of the company's stock worth $818,000 after purchasing an additional 9,331 shares during the period. MFG Wealth Management Inc. raised its holdings in Rocket Companies by 37.6% in the second quarter. MFG Wealth Management Inc. now owns 177,762 shares of the company's stock worth $2,521,000 after purchasing an additional 48,560 shares during the period. Finally, Voya Investment Management LLC raised its holdings in Rocket Companies by 0.9% in the first quarter. Voya Investment Management LLC now owns 565,757 shares of the company's stock worth $6,829,000 after purchasing an additional 4,906 shares during the period. 4.59% of the stock is currently owned by institutional investors and hedge funds.

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.