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

Shares of Rocket Companies, Inc. (NYSE:RKTGet Free Report) have earned an average rating of “Reduce” from the thirteen analysts that are currently covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a sell recommendation and seven have given a hold recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $9.40.

A number of equities research analysts have issued reports on RKT shares. Deutsche Bank Aktiengesellschaft started coverage on Rocket Companies in a research report on Wednesday, January 10th. They set a “hold” rating and a $10.00 target price for the company. Wedbush decreased their target price on Rocket Companies from $11.00 to $8.00 and set a “neutral” rating for the company in a research report on Friday, November 3rd. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and set a $10.75 target price on shares of Rocket Companies in a research report on Wednesday, January 3rd. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $14.00 target price (up previously from $13.00) on shares of Rocket Companies in a research report on Wednesday, January 3rd. Finally, Barclays started coverage on Rocket Companies in a research report on Wednesday, November 15th. They set an “underweight” rating and a $6.00 target price for the company.

View Our Latest Report on RKT

Institutional Investors Weigh In On Rocket Companies

A number of institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC increased its stake in Rocket Companies by 134.7% in the second quarter. FMR LLC now owns 3,598 shares of the company’s stock valued at $26,000 after purchasing an additional 2,065 shares in the last quarter. Deutsche Bank AG increased its stake in Rocket Companies by 658.7% in the fourth quarter. Deutsche Bank AG now owns 3,892 shares of the company’s stock valued at $27,000 after purchasing an additional 3,379 shares in the last quarter. Captrust Financial Advisors increased its stake in Rocket Companies by 178.2% in the second quarter. Captrust Financial Advisors now owns 4,451 shares of the company’s stock valued at $33,000 after purchasing an additional 2,851 shares in the last quarter. True Wealth Design LLC bought a new stake in Rocket Companies in the fourth quarter valued at approximately $35,000. Finally, Tennessee Valley Asset Management Partners bought a new stake in Rocket Companies in the fourth quarter valued at approximately $37,000. 4.09% of the stock is owned by institutional investors.

Rocket Companies Price Performance

Shares of RKT opened at $12.69 on Friday. The company has a market capitalization of $25.15 billion, a price-to-earnings ratio of -60.40, a P/E/G ratio of 9.81 and a beta of 2.44. Rocket Companies has a fifty-two week low of $7.17 and a fifty-two week high of $15.19. The company has a debt-to-equity ratio of 1.05, a current ratio of 11.15 and a quick ratio of 11.15. The business’s 50-day moving average is $12.31 and its 200-day moving average is $10.35.

Rocket Companies (NYSE:RKTGet Free Report) last announced its quarterly earnings results on Thursday, November 2nd. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.03. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Rocket Companies had a negative return on equity of 6.01% and a negative net margin of 0.63%. Equities research analysts expect that Rocket Companies will post -0.19 EPS for the current fiscal year.

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; Rocket Auto, a virtual marketplace where consumers can shop and compare vehicles of many makes and models from a wide network of dealers; and Rocket Loans, an online-based personal loans business.

Further Reading

Analyst Recommendations for Rocket Companies (NYSE:RKT)

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