Rocket Companies (NYSE:RKT) Price Target Raised to $14.00

Rocket Companies (NYSE:RKT - Get Free Report) had its price objective upped by analysts at Jefferies Financial Group from $11.50 to $14.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a "hold" rating on the stock. Jefferies Financial Group's price objective suggests a potential downside of 13.51% from the stock's current price.

Other equities research analysts have also recently issued reports about the company. Keefe, Bruyette & Woods lifted their target price on Rocket Companies from $13.00 to $14.00 and gave the stock a "market perform" rating in a research note on Thursday, July 10th. Royal Bank Of Canada reiterated a "sector perform" rating and set a $18.00 target price on shares of Rocket Companies in a research note on Tuesday, April 1st. UBS Group lifted their target price on Rocket Companies from $13.00 to $14.00 and gave the stock a "neutral" rating in a research note on Thursday, May 29th. Wedbush reiterated a "neutral" rating and set a $12.00 target price (down from $13.00) on shares of Rocket Companies in a research note on Friday, May 9th. Finally, The Goldman Sachs Group boosted their price objective on Rocket Companies from $14.00 to $16.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $14.42.

Rocket Companies Trading Up 1.2%

Rocket Companies stock traded up $0.19 during mid-day trading on Tuesday, hitting $16.19. 64,179,897 shares of the stock were exchanged, compared to its average volume of 7,777,279. The company has a quick ratio of 12.62, a current ratio of 12.62 and a debt-to-equity ratio of 1.37. Rocket Companies has a 12 month low of $10.06 and a 12 month high of $21.38. The firm's fifty day simple moving average is $13.44 and its two-hundred day simple moving average is $13.02. The stock has a market capitalization of $32.37 billion, a price-to-earnings ratio of -539.53 and a beta of 2.28.

Rocket Companies (NYSE:RKT - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.04 EPS for the quarter, hitting the consensus estimate of $0.04. The company had revenue of $1.04 billion during 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 company's quarterly revenue was down 10.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.04 EPS. Analysts forecast that Rocket Companies will post 0.15 EPS for the current year.

Institutional Trading of Rocket Companies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RKT. Mather Group LLC. increased its holdings in shares of Rocket Companies by 312.2% during the first quarter. Mather Group LLC. now owns 2,601 shares of the company's stock valued at $31,000 after acquiring an additional 1,970 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of Rocket Companies by 302.2% during the first quarter. Parallel Advisors LLC now owns 2,956 shares of the company's stock valued at $36,000 after acquiring an additional 2,221 shares in the last quarter. Brooklyn Investment Group increased its holdings in shares of Rocket Companies by 251.3% during the first quarter. Brooklyn Investment Group now owns 3,390 shares of the company's stock valued at $41,000 after acquiring an additional 2,425 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Rocket Companies by 82.4% during the first quarter. GAMMA Investing LLC now owns 3,905 shares of the company's stock valued at $47,000 after acquiring an additional 1,764 shares in the last quarter. Finally, Itau Unibanco Holding S.A. bought a new stake in Rocket Companies in the 4th quarter worth about $47,000. 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.