Rocket Companies (NYSE:RKT) Shares Gap Down to $19.27

Rocket Companies, Inc. (NYSE:RKT) shares gapped down prior to trading on Wednesday . The stock had previously closed at $19.27, but opened at $18.73. Rocket Companies shares last traded at $18.78, with a volume of 559,405 shares changing hands.

Wall Street Analyst Weigh In

RKT has been the topic of a number of research analyst reports. Royal Bank of Canada increased their price target on Rocket Companies from $16.00 to $20.00 and gave the company a “sector perform” rating in a research note on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft increased their price target on Rocket Companies from $11.00 to $15.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. Keefe, Bruyette & Woods upgraded Rocket Companies from an “underperform” rating to a “market perform” rating in a research note on Monday, August 5th. Wedbush upped their price objective on Rocket Companies from $15.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, September 11th. Finally, UBS Group upped their price objective on Rocket Companies from $11.50 to $14.00 and gave the company a “sell” rating in a report on Monday, September 16th. Five analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $13.73.

Rocket Companies Trading Down 1.5 %

The company has a current ratio of 13.18, a quick ratio of 13.18 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $37.76 billion, a P/E ratio of 175.20 and a beta of 2.45. The firm has a 50-day moving average of $18.69 and a two-hundred day moving average of $15.45.

Rocket Companies (NYSE:RKT) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.01. Rocket Companies had a return on equity of 0.90% and a net margin of 0.29%. The business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the prior year, the company earned ($0.05) EPS. Rocket Companies’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, analysts anticipate that Rocket Companies, Inc. will post 0.22 EPS for the current year.

Hedge Funds Weigh In On Rocket Companies

Several large investors have recently bought and sold shares of RKT. Vima LLC bought a new position in Rocket Companies in the fourth quarter valued at about $31,000. Quarry LP raised its position in shares of Rocket Companies by 858.8% during the second quarter. Quarry LP now owns 4,353 shares of the company’s stock worth $60,000 after acquiring an additional 3,899 shares during the last quarter. Blue Trust Inc. acquired a new position in shares of Rocket Companies in the second quarter worth approximately $61,000. EntryPoint Capital LLC bought a new stake in Rocket Companies in the first quarter valued at approximately $77,000. Finally, Bridges Investment Management Inc. acquired a new stake in Rocket Companies during the 2nd quarter valued at approximately $143,000. 4.59% of the stock is currently 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.