Rocket Companies (NYSE:RKT) Price Target Raised to $16.00

Rocket Companies (NYSE:RKT - Free Report) had its price target boosted by The Goldman Sachs Group from $14.00 to $16.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities research analysts have also issued reports on the company. Keefe, Bruyette & Woods reduced their target price on Rocket Companies from $15.00 to $13.00 and set a "market perform" rating on the stock in a research note on Monday, May 12th. Barclays upgraded Rocket Companies from an "underweight" rating to an "equal weight" rating and upped their price objective for the stock from $10.00 to $14.00 in a report on Tuesday, April 8th. Wedbush reiterated a "neutral" rating and issued a $12.00 price target (down from $13.00) on shares of Rocket Companies in a report on Friday, May 9th. UBS Group raised their target price on Rocket Companies from $13.00 to $14.00 and gave the company a "neutral" rating in a research note on Thursday, May 29th. Finally, Royal Bank Of Canada restated a "sector perform" rating and set a $18.00 target price on shares of Rocket Companies in a research note on Tuesday, April 1st. 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 company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $14.38.

Rocket Companies Stock Performance

NYSE RKT traded down $0.33 on Wednesday, hitting $14.24. 14,867,064 shares of the company's stock were exchanged, compared to its average volume of 6,775,477. 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 firm's 50-day moving average price is $13.13 and its two-hundred day moving average price is $12.83. Rocket Companies has a fifty-two week low of $10.06 and a fifty-two week high of $21.38. The firm has a market cap of $28.47 billion, a price-to-earnings ratio of -474.53, a P/E/G ratio of 1.04 and a beta of 2.28.

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

Institutional Investors Weigh In On Rocket Companies

Hedge funds have recently made changes to their positions in the business. Boston Partners increased its stake in shares of Rocket Companies by 11.3% during the first quarter. Boston Partners now owns 13,704,339 shares of the company's stock valued at $165,421,000 after acquiring an additional 1,390,559 shares during the period. Vanguard Group Inc. lifted its stake in shares of Rocket Companies by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 12,793,549 shares of the company's stock valued at $154,418,000 after purchasing an additional 273,475 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Rocket Companies by 2.2% in the 4th quarter. JPMorgan Chase & Co. now owns 8,161,979 shares of the company's stock valued at $91,904,000 after purchasing an additional 174,978 shares during the last quarter. Nuveen Asset Management LLC lifted its position in Rocket Companies by 52.7% during the 4th quarter. Nuveen Asset Management LLC now owns 8,122,148 shares of the company's stock worth $91,455,000 after acquiring an additional 2,804,090 shares during the last quarter. Finally, Nuveen LLC bought a new position in shares of Rocket Companies during the 1st quarter worth about $96,470,000. 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.