Rocket Companies, Inc. (NYSE:RKT) Receives $10.60 Average Target Price from Analysts

Shares of Rocket Companies, Inc. (NYSE:RKT) have been assigned an average rating of “Reduce” from the thirteen research firms that are presently covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $10.60.

Several analysts have issued reports on RKT shares. Wedbush reaffirmed a “neutral” rating and issued a $13.00 price objective on shares of Rocket Companies in a research report on Friday, May 3rd. Piper Sandler lifted their price target on shares of Rocket Companies from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 7th. Bank of America boosted their price objective on shares of Rocket Companies from $7.00 to $8.00 and gave the stock an “underperform” rating in a report on Monday, March 18th. Royal Bank of Canada raised 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. Finally, JPMorgan Chase & Co. boosted their price target on Rocket Companies from $10.50 to $11.00 and gave the stock an “underweight” rating in a research note on Friday, May 3rd.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its holdings in Rocket Companies by 1.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 681,504 shares of the company’s stock worth $5,575,000 after purchasing an additional 11,472 shares during the period. Hsbc Holdings PLC boosted its holdings in shares of Rocket Companies by 56.4% in the 3rd quarter. Hsbc Holdings PLC now owns 40,195 shares of the company’s stock valued at $330,000 after buying an additional 14,503 shares during the period. Schonfeld Strategic Advisors LLC grew its position in shares of Rocket Companies by 41.0% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 235,900 shares of the company’s stock valued at $1,930,000 after buying an additional 68,600 shares during the last quarter. AXQ Capital LP raised its stake in Rocket Companies by 147.8% during the third quarter. AXQ Capital LP now owns 56,668 shares of the company’s stock worth $464,000 after acquiring an additional 33,800 shares during the period. Finally, Kingfisher Capital LLC lifted its holdings in Rocket Companies by 3.0% in the third quarter. Kingfisher Capital LLC now owns 153,098 shares of the company’s stock worth $1,252,000 after acquiring an additional 4,478 shares during the last quarter. Institutional investors and hedge funds own 4.59% of the company’s stock.

Rocket Companies Stock Up 4.0 %

Shares of Rocket Companies stock opened at $13.85 on Monday. Rocket Companies has a twelve month low of $7.17 and a twelve month high of $15.81. The stock has a market cap of $27.54 billion, a price-to-earnings ratio of 125.91 and a beta of 2.43. 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 company has a fifty day moving average price of $13.88 and a 200 day moving average price of $13.12.

Rocket Companies (NYSE:RKT) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Equities research analysts forecast that Rocket Companies will post 0.24 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.