Rocket Companies (NYSE:RKT) Price Target Raised to $15.00

Rocket Companies (NYSE:RKT) had its price objective lifted by Deutsche Bank Aktiengesellschaft from $11.00 to $15.00 in a research report report published on Friday morning, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock.

A number of other equities research analysts also recently weighed in on the company. JPMorgan Chase & Co. boosted their price target on Rocket Companies from $11.00 to $13.50 and gave the company an underweight rating in a report on Monday, July 8th. Wells Fargo & Company upped their price objective on Rocket Companies from $13.00 to $15.00 and gave the stock an equal weight rating in a research note on Friday. Barclays upped their price objective on Rocket Companies from $9.00 to $10.00 and gave the stock an underweight rating in a research note on Tuesday, July 9th. Piper Sandler upped their price objective on Rocket Companies from $12.00 to $13.00 and gave the stock a neutral rating in a research note on Tuesday, May 7th. Finally, Royal Bank of Canada upped their price objective on Rocket Companies from $12.00 to $14.00 and gave the stock a sector perform rating in a research note on Friday, May 3rd. Five research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat.com, Rocket Companies presently has a consensus rating of Hold and a consensus price target of $12.31.

Rocket Companies Stock Performance

Shares of NYSE RKT traded up $0.72 during trading on Friday, reaching $18.48. The stock had a trading volume of 3,048,514 shares, compared to its average volume of 2,626,334. Rocket Companies has a one year low of $7.17 and a one year high of $18.53. The company has a debt-to-equity ratio of 1.20, a quick ratio of 12.83 and a current ratio of 12.83. The stock has a market cap of $36.74 billion, a PE ratio of 162.29 and a beta of 2.43. The firm’s 50 day moving average price is $14.53 and its two-hundred day moving average price is $13.36.

Rocket Companies (NYSE:RKT) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. Rocket Companies had a return on equity of 0.91% and a net margin of 0.29%. The business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the previous year, the business earned ($0.05) EPS. The business’s quarterly revenue was up 5.3% on a year-over-year basis. On average, research analysts forecast that Rocket Companies will post 0.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Rocket Companies by 10.4% in the fourth quarter. Vanguard Group Inc. now owns 11,702,838 shares of the company’s stock valued at $169,457,000 after buying an additional 1,101,325 shares during the period. Boston Partners lifted its holdings in shares of Rocket Companies by 4.2% in the first quarter. Boston Partners now owns 9,382,173 shares of the company’s stock valued at $136,462,000 after buying an additional 381,841 shares during the period. Capital World Investors lifted its holdings in shares of Rocket Companies by 0.3% during the fourth quarter. Capital World Investors now owns 3,642,099 shares of the company’s stock valued at $52,738,000 after purchasing an additional 10,068 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Rocket Companies by 5.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 716,974 shares of the company’s stock valued at $10,382,000 after purchasing an additional 35,470 shares during the last quarter. Finally, Capital Fund Management S.A. lifted its holdings in shares of Rocket Companies by 27.8% during the fourth quarter. Capital Fund Management S.A. now owns 502,110 shares of the company’s stock valued at $7,271,000 after purchasing an additional 109,278 shares during the last quarter. 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.