Rocket Companies (NYSE:RKT) Earns Neutral Rating from Wedbush

Wedbush reaffirmed their neutral rating on shares of Rocket Companies (NYSE:RKT) in a report published on Wednesday morning,RTT News reports. They currently have a $13.00 target price on the stock, down from their prior target price of $18.00.

Other analysts have also issued research reports about the company. Bank of America increased their price objective on Rocket Companies from $12.00 to $14.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. Keefe, Bruyette & Woods upgraded Rocket Companies from an “underperform” rating to a “market perform” rating in a research note on Monday, August 5th. Barclays increased their price objective on shares of Rocket Companies from $10.00 to $14.00 and gave the company an “underweight” rating in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Rocket Companies from $11.00 to $15.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Rocket Companies from $15.00 to $19.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. Five research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $15.13.

Rocket Companies Trading Down 0.4 %

RKT opened at $13.60 on Wednesday. The company has a current ratio of 15.47, a quick ratio of 13.18 and a debt-to-equity ratio of 1.51. The business’s 50-day moving average is $17.54 and its two-hundred day moving average is $16.29. Rocket Companies has a 1 year low of $8.81 and a 1 year high of $21.38.

Rocket Companies (NYSE:RKT) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.08 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.08. Rocket Companies had a negative net margin of 0.38% and a positive return on equity of 2.86%. The firm had revenue of $647.00 million for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the previous year, the firm earned ($0.01) EPS. The company’s quarterly revenue was down 46.2% compared to the same quarter last year. Sell-side analysts anticipate that Rocket Companies will post 0.22 EPS for the current fiscal year.

Institutional Trading of Rocket Companies

Several hedge funds and other institutional investors have recently bought and sold shares of RKT. Swiss National Bank boosted its position in Rocket Companies by 4.1% in the 1st quarter. Swiss National Bank now owns 237,000 shares of the company’s stock worth $3,448,000 after purchasing an additional 9,300 shares in the last quarter. First Eagle Investment Management LLC grew its position in Rocket Companies by 24.9% during the first quarter. First Eagle Investment Management LLC now owns 44,540 shares of the company’s stock valued at $648,000 after buying an additional 8,891 shares during the period. Rockport Wealth LLC purchased a new position in Rocket Companies in the first quarter valued at $291,000. EntryPoint Capital LLC acquired a new position in shares of Rocket Companies in the first quarter worth about $77,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Rocket Companies by 7.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 57,389 shares of the company’s stock worth $836,000 after acquiring an additional 3,858 shares in the last quarter. 4.59% of the stock is owned by institutional investors and hedge funds.

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.