Rocket Companies (NYSE:RKT) Price Target Raised to $13.00

Rocket Companies (NYSE:RKTFree Report) had its target price upped by Piper Sandler from $12.00 to $13.00 in a report issued on Tuesday morning, Benzinga reports. They currently have a neutral rating on the stock.

RKT has been the topic of several other reports. Citigroup lifted their price objective on shares of Rocket Companies from $10.00 to $11.00 and gave the company a sell rating in a report on Wednesday, February 28th. Bank of America boosted their price target on Rocket Companies from $7.00 to $8.00 and gave the stock an underperform rating in a research report on Monday, March 18th. Royal Bank of Canada lifted their target price on Rocket Companies from $12.00 to $14.00 and gave the company a sector perform rating in a research note on Friday, May 3rd. JPMorgan Chase & Co. raised their price target on shares of Rocket Companies from $10.50 to $11.00 and gave the company an underweight rating in a report on Friday, May 3rd. Finally, Wedbush reiterated a neutral rating and set a $13.00 price objective on shares of Rocket Companies in a research note on Friday, May 3rd. Six equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of Hold and an average target price of $10.60.

Read Our Latest Report on Rocket Companies

Rocket Companies Trading Down 2.9 %

RKT traded down $0.41 during trading on Tuesday, hitting $13.68. 1,402,309 shares of the stock were exchanged, compared to its average volume of 2,280,231. Rocket Companies has a 1 year low of $7.17 and a 1 year high of $15.19. The firm has a market cap of $27.16 billion, a price-to-earnings ratio of 124.37, a P/E/G ratio of 10.76 and a beta of 2.43. The firm has a 50 day simple moving average of $12.90 and a 200 day simple moving average of $11.73. The company has a debt-to-equity ratio of 1.20, a quick ratio of 9.78 and a current ratio of 12.83.

Rocket Companies (NYSE:RKTGet Free Report) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The firm had revenue of $885.00 million during the quarter, compared to the consensus estimate of $762.44 million. Rocket Companies had a net margin of 0.43% and a negative return on equity of 1.05%. The business’s revenue was up 29.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.12) earnings per share. As a group, equities analysts expect that Rocket Companies will post 0.26 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of RKT. Principal Securities Inc. acquired a new position in Rocket Companies in the fourth quarter valued at approximately $26,000. Vima LLC acquired a new position in shares of Rocket Companies in the 4th quarter valued at $31,000. Tennessee Valley Asset Management Partners purchased a new stake in Rocket Companies during the fourth quarter worth $37,000. Westpac Banking Corp grew its position in Rocket Companies by 61.8% during the fourth quarter. Westpac Banking Corp now owns 5,927 shares of the company’s stock valued at $86,000 after buying an additional 2,264 shares during the period. Finally, Principal Financial Group Inc. purchased a new position in Rocket Companies in the first quarter valued at $150,000. 4.59% of the stock is owned by institutional investors and hedge funds.

Rocket Companies Company Profile

(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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