Rocket Companies, Inc. (NYSE:RKT) Receives Average Rating of “Reduce” from Analysts
Shares of Rocket Companies, Inc. (NYSE:RKT – Get Free Report) have received an average rating of “Reduce” from the eleven ratings firms that are presently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation and eight have given a hold recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $8.83.
A number of equities analysts recently issued reports on RKT shares. The Goldman Sachs Group decreased their target price on Rocket Companies from $11.00 to $9.00 and set a “neutral” rating on the stock in a report on Tuesday, October 3rd. UBS Group restated a “sell” rating and issued a $8.50 target price on shares of Rocket Companies in a report on Wednesday, December 6th. Barclays initiated coverage on Rocket Companies in a report on Wednesday, November 15th. They issued an “underweight” rating and a $6.00 target price on the stock. JPMorgan Chase & Co. lowered their price target on Rocket Companies from $12.00 to $9.00 and set a “neutral” rating on the stock in a report on Tuesday, October 17th. Finally, Keefe, Bruyette & Woods lifted their price target on Rocket Companies from $9.25 to $10.75 and gave the company a “market perform” rating in a report on Wednesday.
Hedge Funds Weigh In On Rocket Companies
Several large investors have recently made changes to their positions in the business. Comerica Bank acquired a new position in shares of Rocket Companies during the 3rd quarter worth about $71,000. Royal Bank of Canada increased its stake in Rocket Companies by 195.4% during the third quarter. Royal Bank of Canada now owns 100,701 shares of the company’s stock valued at $824,000 after acquiring an additional 66,612 shares during the period. Kingfisher Capital LLC increased its stake in Rocket Companies by 3.0% during the third quarter. Kingfisher Capital LLC now owns 153,098 shares of the company’s stock valued at $1,252,000 after acquiring an additional 4,478 shares during the period. Legal & General Group Plc increased its stake in Rocket Companies by 24.8% during the third quarter. Legal & General Group Plc now owns 543,007 shares of the company’s stock valued at $4,442,000 after acquiring an additional 107,807 shares during the period. Finally, AXQ Capital LP increased its stake in Rocket Companies by 147.8% during the third quarter. AXQ Capital LP now owns 56,668 shares of the company’s stock valued at $464,000 after acquiring an additional 33,800 shares during the period. Institutional investors and hedge funds own 4.09% of the company’s stock.
Rocket Companies Stock Up 9.4 %
RKT opened at $11.82 on Thursday. Rocket Companies has a one year low of $6.63 and a one year high of $11.94. The company has a debt-to-equity ratio of 1.05, a quick ratio of 11.15 and a current ratio of 11.15. The stock’s fifty day moving average is $8.61 and its 200-day moving average is $9.29. The company has a market capitalization of $23.43 billion, a PE ratio of -56.29 and a beta of 2.27.
Rocket Companies (NYSE:RKT – Get Free Report) last posted its quarterly earnings data on Thursday, November 2nd. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.03. Rocket Companies had a negative return on equity of 6.01% and a negative net margin of 0.63%. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.08 billion. On average, equities analysts predict that Rocket Companies will post -0.19 EPS for the current fiscal year.
About Rocket Companies (Get Free Report
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; Rocket Auto, a virtual marketplace where consumers can shop and compare vehicles of many makes and models from a wide network of dealers; and Rocket Loans, an online-based personal loans business.
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