Rocket Companies (NYSE:RKT) PT Raised to $18.00

Rocket Companies (NYSE:RKT) had its price target boosted by Wedbush from $15.00 to $18.00 in a report issued on Wednesday morning, MarketBeat Ratings reports. Wedbush currently has a neutral rating on the stock.

Several other analysts have also recently issued reports on RKT. Barclays boosted their price objective on shares of Rocket Companies from $9.00 to $10.00 and gave the company an underweight rating in a research note on Tuesday, July 9th. UBS Group boosted their price objective on shares of Rocket Companies from $10.50 to $11.50 and gave the company a sell rating in a research note on Thursday, September 5th. JPMorgan Chase & Co. boosted their price objective on shares of Rocket Companies from $13.50 to $15.00 and gave the company an underweight rating in a research note on Friday, August 2nd. Keefe, Bruyette & Woods upgraded shares of Rocket Companies from an underperform rating to a market perform rating in a report on Monday, August 5th. Finally, Royal Bank of Canada lifted their target price on shares of Rocket Companies from $14.00 to $16.00 and gave the company a sector perform rating in a report on Friday, August 2nd. Five analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $13.52.

Rocket Companies Trading Up 4.6 %

Shares of RKT opened at $19.62 on Wednesday. The company has a debt-to-equity ratio of 1.27, a current ratio of 13.18 and a quick ratio of 13.18. The firm has a 50 day simple moving average of $17.48 and a 200-day simple moving average of $14.84. Rocket Companies has a 1-year low of $7.17 and a 1-year high of $21.28. The stock has a market cap of $39.03 billion, a price-to-earnings ratio of 178.38 and a beta of 2.45.

Rocket Companies (NYSE:RKT) last released its earnings results on Thursday, August 1st. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.05 by $0.01. The firm had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Rocket Companies had a net margin of 0.29% and a return on equity of 0.90%. Rocket Companies’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the company earned ($0.05) EPS. Equities analysts forecast that Rocket Companies will post 0.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Rocket Companies

A number of institutional investors have recently added to or reduced their stakes in RKT. Principal Securities Inc. acquired a new position in Rocket Companies in the 4th quarter worth $26,000. Vima LLC acquired a new position in Rocket Companies in the 4th quarter worth $31,000. Quarry LP lifted its holdings in Rocket Companies by 858.8% in the 2nd quarter. Quarry LP now owns 4,353 shares of the company’s stock worth $60,000 after buying an additional 3,899 shares in the last quarter. Blue Trust Inc. acquired a new stake in shares of Rocket Companies in the 2nd quarter valued at about $61,000. Finally, EntryPoint Capital LLC acquired a new stake in shares of Rocket Companies in the 1st quarter valued at about $77,000. Institutional investors and hedge funds own 4.59% of the company’s stock.

About Rocket Companies

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.