Rocket Companies (NYSE:RKT) Raised to Neutral at UBS Group

Rocket Companies (NYSE:RKT) was upgraded by research analysts at UBS Group from a “sell” rating to a “neutral” rating in a research report issued on Friday, Marketbeat reports. The firm currently has a $11.50 price target on the stock, down from their previous price target of $12.50. UBS Group’s target price points to a potential upside of 11.43% from the company’s current price.

Several other research analysts have also issued reports on RKT. The Goldman Sachs Group reduced their target price on Rocket Companies from $16.00 to $14.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Barclays cut their price objective on shares of Rocket Companies from $14.00 to $13.00 and set an “underweight” rating on the stock in a report on Wednesday, November 13th. Royal Bank of Canada lowered their target price on shares of Rocket Companies from $20.00 to $18.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 13th. Morgan Stanley cut their price target on shares of Rocket Companies from $16.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 19th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Rocket Companies from $19.00 to $14.00 and set an “underweight” rating for the company in a research note on Monday, December 9th. Five analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Based on data from MarketBeat, Rocket Companies has an average rating of “Hold” and a consensus target price of $13.77.

Rocket Companies Stock Performance

RKT stock opened at $10.32 on Friday. Rocket Companies has a one year low of $10.22 and a one year high of $21.38. The firm has a market cap of $20.59 billion, a price-to-earnings ratio of -64.50 and a beta of 2.42. The company has a debt-to-equity ratio of 1.51, a quick ratio of 15.47 and a current ratio of 15.47. The firm has a 50-day simple moving average of $12.97 and a two-hundred day simple moving average of $15.82.

Rocket Companies (NYSE:RKT) last posted its earnings results on Tuesday, November 12th. The company reported $0.08 EPS for the quarter, meeting analysts’ consensus estimates of $0.08. Rocket Companies had a negative net margin of 0.38% and a positive return on equity of 2.86%. The company had revenue of $647.00 million during the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the prior year, the company posted ($0.01) earnings per share. Rocket Companies’s revenue for the quarter was down 46.2% compared to the same quarter last year. On average, equities analysts forecast that Rocket Companies will post 0.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Rocket Companies

Institutional investors have recently modified their holdings of the business. Capital Performance Advisors LLP acquired a new stake in Rocket Companies in the 3rd quarter valued at about $39,000. Quarry LP lifted its stake in Rocket Companies by 858.8% in 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. V Square Quantitative Management LLC acquired a new position in Rocket Companies during the 3rd quarter worth approximately $120,000. Blue Trust Inc. increased its position in shares of Rocket Companies by 54.1% in the 3rd quarter. Blue Trust Inc. now owns 6,438 shares of the company’s stock valued at $124,000 after purchasing an additional 2,261 shares during the last quarter. Finally, International Assets Investment Management LLC raised its holdings in shares of Rocket Companies by 3,429.7% in the 3rd quarter. International Assets Investment Management LLC now owns 7,377 shares of the company’s stock valued at $142,000 after purchasing an additional 7,168 shares in the last quarter. Institutional investors and hedge funds own 4.59% of the company’s stock.

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.