Rocket Companies, Inc. (NYSE:RKT) Given Average Rating of “Reduce” by Brokerages

Shares of Rocket Companies, Inc. (NYSE:RKT) have received a consensus recommendation of “Reduce” from the thirteen brokerages that are covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a sell rating and eight have issued a hold rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $13.50.

Several analysts have commented on RKT shares. Royal Bank of Canada lowered their price target on Rocket Companies from $20.00 to $18.00 and set a “sector perform” rating for the company in a report on Wednesday, November 13th. Piper Sandler lowered their target price on shares of Rocket Companies from $17.00 to $16.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. Bank of America increased their price target on shares of Rocket Companies from $14.00 to $15.00 and gave the stock an “underperform” rating in a research note on Thursday, November 14th. Barclays lowered their price objective on shares of Rocket Companies from $14.00 to $13.00 and set an “underweight” rating for the company in a research note on Wednesday, November 13th. Finally, UBS Group raised Rocket Companies from a “sell” rating to a “neutral” rating and cut their target price for the stock from $12.50 to $11.50 in a research report on Friday, January 10th.

Rocket Companies Stock Performance

Shares of RKT opened at $11.73 on Friday. Rocket Companies has a 1 year low of $10.06 and a 1 year high of $21.38. The company’s 50 day simple moving average is $12.67 and its 200 day simple moving average is $15.76. The company has a market capitalization of $23.39 billion, a price-to-earnings ratio of -73.28 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.

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

Institutional Investors Weigh In On Rocket Companies

A number of large investors have recently modified their holdings of the stock. Capital Performance Advisors LLP acquired a new position in Rocket Companies during the 3rd quarter worth approximately $39,000. Quarry LP raised its stake in shares of Rocket Companies by 858.8% during the second quarter. Quarry LP now owns 4,353 shares of the company’s stock valued at $60,000 after purchasing an additional 3,899 shares during the period. V Square Quantitative Management LLC acquired a new position in shares of Rocket Companies during the third quarter worth $120,000. Blue Trust Inc. boosted its stake in shares of Rocket Companies by 54.1% in the third 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 period. Finally, International Assets Investment Management LLC grew its holdings in Rocket Companies by 3,429.7% during 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.