Brokerages Set Rocket Companies, Inc. (NYSE:RKT) Price Target at $13.50

Shares of Rocket Companies, Inc. (NYSE:RKT) have been assigned a consensus recommendation of “Reduce” from the thirteen analysts that are currently covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $13.50.

A number of research firms have issued reports on RKT. JPMorgan Chase & Co. cut their price objective on shares of Rocket Companies from $14.00 to $10.50 and set an “underweight” rating for the company in a report on Tuesday, January 14th. Keefe, Bruyette & Woods dropped their target price on shares of Rocket Companies from $11.50 to $10.50 and set an “underperform” rating for the company in a research report on Friday, January 3rd. Piper Sandler dropped their target price on shares of Rocket Companies from $17.00 to $16.00 and set a “neutral” rating for the company in a research report on Thursday, November 14th. Morgan Stanley lowered their price objective on shares of Rocket Companies from $16.00 to $13.00 and set an “equal weight” rating for the company in a research report on Thursday, December 19th. Finally, Wedbush reiterated a “neutral” rating and set a $13.00 price objective (down from $18.00) on shares of Rocket Companies in a research report on Wednesday, November 13th.

Rocket Companies Stock Down 0.6 %

Rocket Companies stock opened at $11.88 on Friday. The firm has a market capitalization of $23.69 billion, a PE ratio of -74.22 and a beta of 2.42. The company’s 50-day moving average is $12.31 and its 200-day moving average is $15.70. Rocket Companies has a fifty-two week low of $10.06 and a fifty-two week high of $21.38. The company has a debt-to-equity ratio of 1.51, a current ratio of 15.47 and a quick ratio of 15.47.

Rocket Companies (NYSE:RKT) last announced its earnings results on Tuesday, November 12th. The company reported $0.08 EPS for the quarter, hitting the consensus estimate of $0.08. The business had revenue of $647.00 million during the quarter, compared to the consensus estimate of $1.25 billion. Rocket Companies had a negative net margin of 0.38% and a positive return on equity of 2.86%. Rocket Companies’s revenue was down 46.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.01) EPS. Sell-side analysts anticipate that Rocket Companies will post 0.15 earnings per share for the current year.

Institutional Investors Weigh In On Rocket Companies

Institutional investors have recently modified their holdings of the company. Capital Performance Advisors LLP bought a new stake in shares of Rocket Companies in the 3rd quarter valued at $39,000. Quarry LP boosted its stake in shares of Rocket Companies by 858.8% in the 2nd 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 last quarter. KBC Group NV boosted 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 last quarter. V Square Quantitative Management LLC bought a new stake in shares of Rocket Companies in the 3rd quarter valued at $120,000. Finally, Blue Trust Inc. boosted 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 acquiring an additional 2,261 shares in the last quarter. 4.59% of the stock is owned by institutional investors.

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.