Rocket Companies (NYSE:RKT) Given a $16.00 Price Target by UBS Group Analysts

Key Points

• UBS Group has increased its price target for Rocket Companies from $14.00 to $16.00, indicating a potential downside of 5.13% from the stock's previous close while maintaining a "neutral" rating.
• Other analysts have also adjusted their price targets, with Barclays and Goldman Sachs aligning with UBS's target of $16.00, while the average rating for Rocket Companies remains at "Hold" with an average price target of $14.79.
• The company's quarterly earnings topped estimates with reported EPS of $0.04 and revenue of $1.36 billion, indicating a year-over-year revenue increase of 4.5% despite a negative net margin.

Rocket Companies (NYSE:RKT - Get Free Report) has been assigned a $16.00 price objective by equities researchers at UBS Group in a research note issued on Tuesday, Marketbeat.com reports. The brokerage currently has a "neutral" rating on the stock. UBS Group's price objective would indicate a potential downside of 11.26% from the company's previous close.

A number of other equities research analysts have also weighed in on the stock. Wedbush reiterated a "neutral" rating and set a $12.00 price objective (down previously from $13.00) on shares of Rocket Companies in a report on Friday, May 9th. Barclays boosted their price target on shares of Rocket Companies from $14.00 to $16.00 and gave the company an "equal weight" rating in a report on Friday, August 1st. Jefferies Financial Group boosted their price target on shares of Rocket Companies from $11.50 to $14.00 and gave the company a "hold" rating in a report on Tuesday, July 22nd. The Goldman Sachs Group boosted their price target on shares of Rocket Companies from $14.00 to $16.00 and gave the company a "neutral" rating in a report on Wednesday, July 2nd. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Rocket Companies from $14.00 to $15.00 and gave the company a "market perform" rating in a report on Tuesday. Two 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. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $14.79.

Rocket Companies Trading Up 6.8%

Shares of RKT opened at $18.03 on Tuesday. Rocket Companies has a 1-year low of $10.06 and a 1-year high of $21.38. The company has a 50-day moving average of $14.16 and a 200 day moving average of $13.40. The firm has a market capitalization of $36.06 billion, a price-to-earnings ratio of -360.60 and a beta of 2.28. The company has a debt-to-equity ratio of 2.36, a current ratio of 18.74 and a quick ratio of 12.62.

Rocket Companies (NYSE:RKT - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.04 earnings per share for the quarter, beating analysts' consensus estimates of $0.03 by $0.01. Rocket Companies had a negative net margin of 0.01% and a positive return on equity of 3.18%. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter last year, the business posted $0.06 EPS. The firm's revenue for the quarter was up 4.5% on a year-over-year basis. On average, research analysts expect that Rocket Companies will post 0.15 EPS for the current year.

Institutional Trading of Rocket Companies

Several large investors have recently bought and sold shares of the stock. Boston Partners grew its position in Rocket Companies by 11.3% during the 1st quarter. Boston Partners now owns 13,704,339 shares of the company's stock worth $165,421,000 after purchasing an additional 1,390,559 shares during the last quarter. Vanguard Group Inc. grew its position in Rocket Companies by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 12,793,549 shares of the company's stock worth $154,418,000 after purchasing an additional 273,475 shares during the last quarter. Nuveen Asset Management LLC grew 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 purchasing an additional 2,804,090 shares during the last quarter. Nuveen LLC purchased a new stake in Rocket Companies during the 1st quarter worth approximately $96,470,000. Finally, Wellington Management Group LLP grew its position in Rocket Companies by 1.5% during the 1st quarter. Wellington Management Group LLP now owns 4,774,324 shares of the company's stock worth $57,626,000 after purchasing an additional 69,147 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.