Rocket Companies (NYSE:RKT) Price Target Raised to $14.00 at Jefferies Financial Group

Rocket Companies (NYSE:RKT - Get Free Report) had its target price increased by investment analysts at Jefferies Financial Group from $11.50 to $14.00 in a report released on Tuesday,Benzinga reports. The firm presently has a "hold" rating on the stock. Jefferies Financial Group's price objective indicates a potential downside of 5.75% from the stock's previous close.

Several other analysts have also recently issued reports on the company. The Goldman Sachs Group increased their target price on Rocket Companies from $14.00 to $16.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. Wedbush reissued a "neutral" rating and issued a $12.00 price objective (down previously from $13.00) on shares of Rocket Companies in a research report on Friday, May 9th. Barclays raised Rocket Companies from an "underweight" rating to an "equal weight" rating and raised their price objective for the stock from $10.00 to $14.00 in a research report on Tuesday, April 8th. UBS Group raised their price objective on Rocket Companies from $13.00 to $14.00 and gave the stock a "neutral" rating in a research report on Thursday, May 29th. Finally, Keefe, Bruyette & Woods raised their price objective on Rocket Companies from $13.00 to $14.00 and gave the stock a "market perform" rating in a research report on Thursday, July 10th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $14.42.

Rocket Companies Stock Down 0.0%

NYSE RKT traded down $0.01 during midday trading on Tuesday, hitting $14.85. 9,079,303 shares of the company traded hands, compared to its average volume of 11,412,407. The company has a debt-to-equity ratio of 1.37, a current ratio of 12.62 and a quick ratio of 12.62. The company has a market cap of $29.71 billion, a PE ratio of -494.53 and a beta of 2.28. The company's 50-day simple moving average is $13.69 and its 200-day simple moving average is $13.12. Rocket Companies has a 52 week low of $10.06 and a 52 week high of $21.38.

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, meeting the consensus estimate of $0.04. The business had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.26 billion. Rocket Companies had a return on equity of 3.61% and a net margin of 0.06%. The business's revenue for the quarter was down 10.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.04 EPS. As a group, equities research analysts forecast that Rocket Companies will post 0.15 earnings per share for the current year.

Hedge Funds Weigh In On Rocket Companies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RKT. Udine Wealth Management Inc. purchased a new position in shares of Rocket Companies during the 2nd quarter valued at about $1,281,000. IFP Advisors Inc purchased a new position in shares of Rocket Companies during the 2nd quarter valued at about $86,000. GFG Capital LLC purchased a new position in shares of Rocket Companies during the 2nd quarter valued at about $8,287,000. Maryland State Retirement & Pension System purchased a new position in shares of Rocket Companies during the 2nd quarter valued at about $200,000. Finally, Wealthcare Advisory Partners LLC raised its stake in shares of Rocket Companies by 76.0% during the 2nd quarter. Wealthcare Advisory Partners LLC now owns 50,291 shares of the company's stock valued at $713,000 after buying an additional 21,711 shares during the last quarter. Hedge funds and other institutional investors 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.