Rocket Companies (NYSE:RKT) PT Raised to $11.00

Rocket Companies (NYSE:RKT) had its price target raised by JPMorgan Chase & Co. from $10.50 to $11.00 in a research note published on Friday, Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the stock.

RKT has been the topic of several other reports. Citigroup lifted their price target on shares of Rocket Companies from $10.00 to $11.00 and gave the stock a sell rating in a report on Wednesday, February 28th. Wells Fargo & Company dropped their target price on Rocket Companies from $14.00 to $13.00 and set an equal weight rating on the stock in a research note on Friday, February 23rd. Wedbush reiterated a neutral rating and issued a $13.00 price target on shares of Rocket Companies in a research note on Friday. Deutsche Bank Aktiengesellschaft started coverage on Rocket Companies in a research note on Wednesday, January 10th. They set a hold rating and a $10.00 price target on the stock. Finally, UBS Group increased their price objective on shares of Rocket Companies from $8.50 to $10.00 and gave the company a sell rating in a research report on Monday, February 26th. Six analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat.com, Rocket Companies currently has a consensus rating of Hold and an average target price of $10.37.

Rocket Companies Stock Up 3.8 %

NYSE RKT traded up $0.51 during midday trading on Friday, hitting $13.81. 2,783,188 shares of the company traded hands, compared to its average volume of 2,462,460. Rocket Companies has a 52 week low of $7.17 and a 52 week high of $15.19. The company’s 50-day simple moving average is $12.75 and its 200-day simple moving average is $11.61. The company has a market cap of $27.42 billion, a PE ratio of 120.92, a price-to-earnings-growth ratio of 10.36 and a beta of 2.43. The company has a debt-to-equity ratio of 1.20, a current ratio of 12.83 and a quick ratio of 9.78.

Rocket Companies (NYSE:RKT) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The company had revenue of $885.00 million for the quarter, compared to analysts’ expectations of $762.44 million. Rocket Companies had a negative return on equity of 1.05% and a net margin of 0.43%. The company’s revenue for the quarter was up 29.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.12) earnings per share. As a group, equities research analysts forecast that Rocket Companies will post 0.26 earnings per share for the current year.

Institutional Investors Weigh In On Rocket Companies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Boston Partners purchased a new position in Rocket Companies during the third quarter worth approximately $47,544,000. Vanguard Group Inc. raised its stake in shares of Rocket Companies by 10.4% during the 4th quarter. Vanguard Group Inc. now owns 11,702,838 shares of the company’s stock worth $169,457,000 after buying an additional 1,101,325 shares during the period. QRG Capital Management Inc. purchased a new position in shares of Rocket Companies during the 3rd quarter valued at approximately $5,195,000. Integrated Investment Consultants LLC lifted its position in shares of Rocket Companies by 1,069.0% during the 4th quarter. Integrated Investment Consultants LLC now owns 650,598 shares of the company’s stock valued at $9,421,000 after buying an additional 594,945 shares in the last quarter. Finally, Quantbot Technologies LP grew its stake in Rocket Companies by 1,515.5% in the 3rd quarter. Quantbot Technologies LP now owns 170,504 shares of the company’s stock valued at $1,395,000 after acquiring an additional 159,950 shares during the period. 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.