Rocket Companies (NYSE:RKT) Price Target Increased to $14.00 by Analysts at UBS Group

Rocket Companies (NYSE:RKT) had its target price increased by equities research analysts at UBS Group from $11.50 to $14.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a “sell” rating on the stock. UBS Group’s price objective would suggest a potential downside of 31.44% from the company’s previous close.

Other analysts have also issued reports about the company. Deutsche Bank Aktiengesellschaft boosted their target price on Rocket Companies from $11.00 to $15.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. Keefe, Bruyette & Woods raised Rocket Companies from an “underperform” rating to a “market perform” rating in a research report on Monday, August 5th. Wells Fargo & Company lifted their price target on shares of Rocket Companies from $13.00 to $15.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Royal Bank of Canada upped their price objective on shares of Rocket Companies from $16.00 to $20.00 and gave the stock a “sector perform” rating in a report on Wednesday, September 11th. Finally, Barclays lifted their price objective on shares of Rocket Companies from $9.00 to $10.00 and gave the company an “underweight” rating in a report on Tuesday, July 9th. Five analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $13.73.

Rocket Companies Trading Up 4.1 %

Shares of NYSE:RKT traded up $0.80 during midday trading on Monday, reaching $20.42. The company’s stock had a trading volume of 2,021,644 shares, compared to its average volume of 2,728,825. Rocket Companies has a fifty-two week low of $7.17 and a fifty-two week high of $21.28. The company has a debt-to-equity ratio of 1.27, a quick ratio of 13.18 and a current ratio of 13.18. The firm has a 50 day moving average price of $17.48 and a two-hundred day moving average price of $14.86. The firm has a market capitalization of $40.60 billion, a price-to-earnings ratio of 184.91 and a beta of 2.45.

Rocket Companies (NYSE:RKT) last issued its quarterly earnings results 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 analyst estimates of $1.22 billion. Rocket Companies had a return on equity of 0.90% and a net margin of 0.29%. The company’s revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.05) earnings per share. As a group, analysts forecast that Rocket Companies will post 0.22 earnings per share for the current year.

Hedge Funds Weigh In On Rocket Companies

Several institutional investors have recently modified their holdings of RKT. International Assets Investment Management LLC grew its position in Rocket Companies by 1,348.3% during the fourth quarter. International Assets Investment Management LLC now owns 34,889 shares of the company’s stock valued at $505,000 after buying an additional 32,480 shares during the period. Private Advisor Group LLC bought a new position in shares of Rocket Companies during the 4th quarter valued at approximately $317,000. Charles Schwab Investment Management Inc. increased its stake in shares of Rocket Companies by 5.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 716,974 shares of the company’s stock worth $10,382,000 after purchasing an additional 35,470 shares during the last quarter. Principal Securities Inc. bought a new stake in shares of Rocket Companies in the 4th quarter worth approximately $26,000. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in Rocket Companies by 27.8% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 16,226 shares of the company’s stock valued at $235,000 after purchasing an additional 3,533 shares during the last quarter. 4.59% of the stock is owned by institutional investors.

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.