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

Shares of Rocket Companies, Inc. (NYSE:RKT) have earned a consensus recommendation of “Reduce” from the thirteen ratings firms that are currently covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a sell recommendation and eight have assigned a hold recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $13.50.

A number of research firms recently issued reports on RKT. Royal Bank of Canada lowered their price objective on shares of Rocket Companies from $20.00 to $18.00 and set a “sector perform” rating for the company in a research report on Wednesday, November 13th. Bank of America upped their price target on shares of Rocket Companies from $14.00 to $15.00 and gave the stock an “underperform” rating in a report on Thursday, November 14th. Keefe, Bruyette & Woods cut their price objective on Rocket Companies from $11.50 to $10.50 and set an “underperform” rating on the stock in a report on Friday, January 3rd. Piper Sandler lowered their target price on Rocket Companies from $17.00 to $16.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. Finally, UBS Group raised Rocket Companies from a “sell” rating to a “neutral” rating and cut their price target for the company from $12.50 to $11.50 in a research note on Friday, January 10th.

Institutional Investors Weigh In On Rocket Companies

Several large investors have recently modified their holdings of the company. Capital Performance Advisors LLP bought a new stake in Rocket Companies during the third quarter valued at $39,000. KBC Group NV lifted its stake in shares of Rocket Companies by 58.1% in the 4th quarter. KBC Group NV now owns 6,056 shares of the company’s stock valued at $68,000 after purchasing an additional 2,226 shares during the period. V Square Quantitative Management LLC bought a new stake in shares of Rocket Companies during the 3rd quarter valued at about $120,000. Blue Trust Inc. grew its stake in Rocket Companies by 54.1% during the third quarter. Blue Trust Inc. now owns 6,438 shares of the company’s stock worth $124,000 after purchasing an additional 2,261 shares during the period. Finally, SBI Securities Co. Ltd. bought a new stake in Rocket Companies in the fourth quarter worth approximately $135,000. 4.59% of the stock is currently owned by institutional investors and hedge funds.

Rocket Companies Price Performance

RKT stock opened at $12.92 on Tuesday. The company’s 50-day moving average price is $11.97 and its two-hundred day moving average price is $15.54. The firm has a market cap of $25.77 billion, a P/E ratio of -80.74 and a beta of 2.43. The company has a quick ratio of 15.47, a current ratio of 15.47 and a debt-to-equity ratio of 1.51. Rocket Companies has a 12 month low of $10.06 and a 12 month high of $21.38.

Rocket Companies (NYSE:RKT) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.08 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.08. The business had revenue of $647.00 million for the quarter, compared to analysts’ expectations of $1.25 billion. Rocket Companies had a negative net margin of 0.38% and a positive return on equity of 2.86%. The firm’s quarterly revenue was down 46.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.01) earnings per share. On average, analysts anticipate that Rocket Companies will post 0.15 earnings per share for the current fiscal year.

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.