UBS Group Increases Rocket Companies (NYSE:RKT) Price Target to $14.00

Rocket Companies (NYSE:RKT) had its price objective upped by UBS Group from $11.50 to $14.00 in a research note released on Monday morning, Benzinga reports. The brokerage currently has a sell rating on the stock.

Several other brokerages have also weighed in on RKT. Wedbush raised their target price on Rocket Companies from $15.00 to $18.00 and gave the stock a neutral rating in a research report on Wednesday, September 11th. Wells Fargo & Company raised their price objective on Rocket Companies from $13.00 to $15.00 and gave the stock an equal weight rating in a report on Friday, August 2nd. JPMorgan Chase & Co. boosted their target price on Rocket Companies from $13.50 to $15.00 and gave the company an underweight rating in a report on Friday, August 2nd. Keefe, Bruyette & Woods raised Rocket Companies from an underperform rating to a market perform rating in a report on Monday, August 5th. Finally, Royal Bank of Canada raised their price target on Rocket Companies from $16.00 to $20.00 and gave the stock a sector perform rating in a report on Wednesday, September 11th. Five equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $13.73.

Rocket Companies Stock Performance

NYSE RKT opened at $19.19 on Monday. The company has a current ratio of 13.18, a quick ratio of 13.18 and a debt-to-equity ratio of 1.27. The stock has a market cap of $38.17 billion, a PE ratio of 174.42 and a beta of 2.45. The stock has a fifty day simple moving average of $17.91 and a 200-day simple moving average of $15.01. Rocket Companies has a twelve month low of $7.17 and a twelve month high of $21.38.

Rocket Companies (NYSE:RKT) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.01. The firm had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.22 billion. Rocket Companies had a return on equity of 0.90% and a net margin of 0.29%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.05) EPS. Equities analysts anticipate that Rocket Companies will post 0.22 earnings per share for the current year.

Hedge Funds Weigh In On Rocket Companies

Large investors have recently made changes to their positions in the business. First Affirmative Financial Network increased its position in shares of Rocket Companies by 6.1% in the first quarter. First Affirmative Financial Network now owns 14,272 shares of the company’s stock worth $208,000 after acquiring an additional 822 shares in the last quarter. Lakeshore Financial Planning Inc. increased its stake in shares of Rocket Companies by 8.0% in the second quarter. Lakeshore Financial Planning Inc. now owns 13,496 shares of the company’s stock worth $185,000 after acquiring an additional 1,000 shares during the last quarter. DMC Group LLC raised its holdings in shares of Rocket Companies by 3.7% during the first quarter. DMC Group LLC now owns 29,077 shares of the company’s stock worth $423,000 after acquiring an additional 1,029 shares in the last quarter. Principal Securities Inc. acquired a new position in Rocket Companies in the 4th quarter worth about $26,000. Finally, Arizona State Retirement System raised its stake in shares of Rocket Companies by 6.0% during the 2nd quarter. Arizona State Retirement System now owns 34,974 shares of the company’s stock worth $479,000 after purchasing an additional 1,979 shares in 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.