Rocket Companies (NYSE:RKT) PT Raised to $10.00

Rocket Companies (NYSE:RKTGet Free Report) had its target price upped by stock analysts at Barclays from $9.00 to $10.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Barclays‘s target price points to a potential downside of 26.04% from the company’s previous close.

Several other brokerages have also recently weighed in on RKT. Bank of America boosted their price objective on Rocket Companies from $7.00 to $8.00 and gave the stock an “underperform” rating in a research note on Monday, March 18th. Wedbush reissued a “neutral” rating and set a $13.00 price objective on shares of Rocket Companies in a research note on Friday, May 3rd. Piper Sandler boosted their price objective on Rocket Companies from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 7th. JPMorgan Chase & Co. boosted their price objective on Rocket Companies from $11.00 to $13.50 and gave the stock an “underweight” rating in a research note on Monday. Finally, Royal Bank of Canada boosted their price objective on Rocket Companies from $12.00 to $14.00 and gave the stock a “sector perform” rating in a research note on Friday, May 3rd. Six investment analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat.com, Rocket Companies presently has an average rating of “Hold” and an average target price of $11.10.

Read Our Latest Analysis on RKT

Rocket Companies Trading Up 2.0 %

Shares of RKT stock opened at $13.52 on Tuesday. Rocket Companies has a 12-month low of $7.17 and a 12-month high of $15.81. The company has a current ratio of 12.83, a quick ratio of 12.83 and a debt-to-equity ratio of 1.20. The stock’s 50-day moving average price is $14.00 and its 200-day moving average price is $13.09. The stock has a market capitalization of $26.88 billion, a price-to-earnings ratio of 122.92 and a beta of 2.43.

Rocket Companies (NYSE:RKTGet Free Report) last issued its earnings results on Thursday, May 2nd. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.08. Rocket Companies had a negative return on equity of 1.05% and a net margin of 0.43%. The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Equities research analysts predict that Rocket Companies will post 0.24 EPS for the current fiscal year.

Institutional Trading of Rocket Companies

Large investors have recently modified their holdings of the company. Principal Securities Inc. purchased a new stake in shares of Rocket Companies in the fourth quarter valued at approximately $26,000. Vima LLC purchased a new stake in shares of Rocket Companies in the fourth quarter valued at approximately $31,000. Tennessee Valley Asset Management Partners purchased a new stake in shares of Rocket Companies in the fourth quarter valued at approximately $37,000. EntryPoint Capital LLC purchased a new stake in shares of Rocket Companies in the first quarter valued at approximately $77,000. Finally, Westpac Banking Corp lifted its holdings in Rocket Companies by 61.8% during the fourth quarter. Westpac Banking Corp now owns 5,927 shares of the company’s stock worth $86,000 after buying an additional 2,264 shares during the period. Hedge funds and other institutional investors own 4.59% of the company’s stock.

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; and Rocket Loans, an online-based personal loans business.

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