Rocket Companies (RKT) – Research Analysts’ Weekly Ratings Changes

Rocket Companies (NYSE: RKT) recently received a number of ratings updates from brokerages and research firms:

  • 5/7/2024 – Rocket Companies had its price target raised by analysts at Piper Sandler from $12.00 to $13.00. They now have a “neutral” rating on the stock.
  • 5/3/2024 – Rocket Companies had its price target raised by analysts at JPMorgan Chase & Co. from $10.50 to $11.00. They now have an “underweight” rating on the stock.
  • 5/3/2024 – Rocket Companies had its price target raised by analysts at Royal Bank of Canada from $12.00 to $14.00. They now have a “sector perform” rating on the stock.
  • 5/3/2024 – Rocket Companies had its “neutral” rating reaffirmed by analysts at Wedbush. They now have a $13.00 price target on the stock.

Rocket Companies Stock Performance

Shares of NYSE RKT traded down $0.19 during trading hours on Wednesday, reaching $14.35. The stock had a trading volume of 520,591 shares, compared to its average volume of 2,538,516. The firm has a 50-day moving average of $13.18 and a 200-day moving average of $12.17. The firm has a market cap of $28.53 billion, a price-to-earnings ratio of 130.47, a PEG ratio of 12.21 and a beta of 2.43. The company has a current ratio of 12.83, a quick ratio of 12.83 and a debt-to-equity ratio of 1.20. Rocket Companies, Inc. has a fifty-two week low of $7.17 and a fifty-two week high of $15.60.

Rocket Companies (NYSE:RKTGet Free Report) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). Rocket Companies had a net margin of 0.43% and a negative return on equity of 1.05%. The company had revenue of $885.00 million for the quarter, compared to analysts’ expectations of $762.44 million. During the same period in the prior year, the company earned ($0.12) earnings per share. The firm’s revenue was up 29.6% on a year-over-year basis. Equities research analysts predict that Rocket Companies, Inc. will post 0.24 earnings per share for the current year.

Institutional Investors Weigh In On Rocket Companies

A number of hedge funds and other institutional investors have recently bought and sold shares of RKT. Principal Securities Inc. acquired a new stake in shares of Rocket Companies in the 4th quarter worth approximately $26,000. Vima LLC acquired a new stake in Rocket Companies in the fourth quarter valued at $31,000. Tennessee Valley Asset Management Partners purchased a new position in shares of Rocket Companies in the fourth quarter valued at $37,000. EntryPoint Capital LLC acquired a new position in shares of Rocket Companies during the 1st quarter worth $77,000. Finally, Westpac Banking Corp boosted its position in shares of Rocket Companies by 61.8% in the 4th quarter. Westpac Banking Corp now owns 5,927 shares of the company’s stock worth $86,000 after buying an additional 2,264 shares in the last quarter. Institutional investors and hedge funds own 4.59% of the company’s stock.

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.

Further Reading

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