Rocket Companies (NYSE:RKT - Get Free Report) had its target price hoisted by analysts at Jefferies Financial Group from $11.50 to $14.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "hold" rating on the stock. Jefferies Financial Group's price objective points to a potential downside of 12.53% from the company's previous close.
A number of other brokerages have also recently commented on RKT. Keefe, Bruyette & Woods lifted their target price on shares of Rocket Companies from $13.00 to $14.00 and gave the stock a "market perform" rating in a research report on Thursday, July 10th. Wedbush restated 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. Royal Bank Of Canada restated a "sector perform" rating and issued a $18.00 price objective on shares of Rocket Companies in a research 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 research report on Wednesday, April 2nd. Finally, The Goldman Sachs Group boosted their price objective on shares of Rocket Companies from $14.00 to $16.00 and gave the company a "neutral" rating in a research report 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $14.42.
Check Out Our Latest Report on Rocket Companies
Rocket Companies Stock Performance
NYSE RKT traded up $0.97 during trading on Tuesday, reaching $16.01. 50,931,145 shares of the company's stock were exchanged, compared to its average volume of 7,551,405. The business has a 50 day moving average price of $13.44 and a 200-day moving average price of $13.02. The stock has a market capitalization of $32.01 billion, a P/E ratio of -533.50 and a beta of 2.28. The company has a debt-to-equity ratio of 1.37, a current ratio of 12.62 and a quick ratio of 12.62. Rocket Companies has a fifty-two week low of $10.06 and a fifty-two week high of $21.38.
Rocket Companies (NYSE:RKT - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. The firm had revenue of $1.04 billion during 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 company's quarterly revenue was down 10.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.04 earnings per share. Sell-side analysts forecast that Rocket Companies will post 0.15 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the stock. Cetera Investment Advisers lifted its holdings in Rocket Companies by 2.9% during the 4th quarter. Cetera Investment Advisers now owns 33,035 shares of the company's stock worth $372,000 after buying an additional 936 shares during the period. USS Investment Management Ltd lifted its holdings in Rocket Companies by 2.7% during the 1st quarter. USS Investment Management Ltd now owns 37,152 shares of the company's stock worth $448,000 after buying an additional 967 shares during the period. Amundi lifted its stake in shares of Rocket Companies by 3.1% in the 1st quarter. Amundi now owns 33,416 shares of the company's stock valued at $403,000 after purchasing an additional 997 shares during the period. Missouri Trust & Investment Co lifted its stake in shares of Rocket Companies by 1.1% in the 2nd quarter. Missouri Trust & Investment Co now owns 94,395 shares of the company's stock valued at $1,339,000 after purchasing an additional 1,000 shares during the period. Finally, Vident Advisory LLC lifted its stake in shares of Rocket Companies by 3.6% in the 4th quarter. Vident Advisory LLC now owns 30,798 shares of the company's stock valued at $347,000 after purchasing an additional 1,078 shares during the period. 4.59% of the stock is owned by institutional investors and hedge funds.
About Rocket Companies
(
Get Free Report)
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.
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