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 note issued to investors on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.
RKT has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft raised Rocket Companies from a "hold" rating to a "buy" rating and set a $16.00 target price on the stock in a research report on Wednesday, April 2nd. Wedbush reaffirmed a "neutral" rating and issued a $12.00 price objective (down from $13.00) on shares of Rocket Companies in a report on Friday, May 9th. UBS Group lifted their price objective on shares of Rocket Companies from $13.00 to $14.00 and gave the company a "neutral" rating in a report on Thursday, May 29th. Barclays raised 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. Finally, Keefe, Bruyette & Woods decreased their price objective on Rocket Companies from $15.00 to $13.00 and set a "market perform" rating on the stock in a report on Monday, May 12th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $14.38.
Check Out Our Latest Stock Analysis on RKT
Rocket Companies Price Performance
RKT traded up $0.10 during trading on Wednesday, reaching $14.58. 24,758,768 shares of the company traded hands, compared to its average volume of 6,724,136. The company has a market cap of $29.16 billion, a P/E ratio of -486.00, a PEG ratio of 1.06 and a beta of 2.28. The firm has a fifty day simple moving average of $13.08 and a 200 day simple moving average of $12.80. Rocket Companies has a 12-month low of $10.06 and a 12-month high of $21.38. The company has a debt-to-equity ratio of 1.37, a quick ratio of 12.62 and a current ratio of 12.62.
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. Rocket Companies had a net margin of 0.06% and a return on equity of 3.61%. The firm had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.26 billion. During the same period in the prior year, the company earned $0.04 EPS. The business's revenue was down 10.8% compared to the same quarter last year. On average, equities analysts forecast that Rocket Companies will post 0.15 EPS for the current year.
Hedge Funds Weigh In On Rocket Companies
Several hedge funds have recently bought and sold shares of the company. Voya Investment Management LLC lifted its position in shares of Rocket Companies by 0.9% during 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 in the last quarter. Rhumbline Advisers increased its stake in Rocket Companies by 11.7% during the 1st quarter. Rhumbline Advisers now owns 146,527 shares of the company's stock worth $1,769,000 after buying an additional 15,310 shares during the period. Strs Ohio acquired a new position in shares of Rocket Companies in the first quarter worth $568,000. Bayforest Capital Ltd acquired a new position in shares of Rocket Companies in the first quarter worth $103,000. Finally, SCS Capital Management LLC purchased a new stake in shares of Rocket Companies during the first quarter worth $431,000. Institutional investors and hedge funds own 4.59% of the company's stock.
Rocket Companies Company Profile
(
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.
Further Reading
Before you consider Rocket Companies, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Rocket Companies wasn't on the list.
While Rocket Companies currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Today, we are inviting you to take a free peek at our proprietary, exclusive, and up-to-the-minute list of 20 stocks that Wall Street's top analysts hate.
Many of these appear to have good fundamentals and might seem like okay investments, but something is wrong. Analysts smell something seriously rotten about these companies. These are true "Strong Sell" stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
