UBS Group Issues Pessimistic Forecast for Rocket Companies (NYSE:RKT) Stock Price

Rocket Companies (NYSE:RKT) had its price target decreased by UBS Group from $14.00 to $12.50 in a report issued on Thursday,Benzinga reports. UBS Group currently has a sell rating on the stock.

Other equities analysts have also issued reports about the stock. Bank of America lifted their price objective on shares of Rocket Companies from $12.00 to $14.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. Barclays decreased their price objective on Rocket Companies from $14.00 to $13.00 and set an “underweight” rating for the company in a research note on Wednesday. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Rocket Companies from $11.00 to $15.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. lifted their price objective on shares of Rocket Companies from $15.00 to $19.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Finally, Wedbush reissued a “neutral” rating and set a $13.00 target price (down previously from $18.00) on shares of Rocket Companies in a research report on Wednesday. Five analysts have rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $15.13.

Rocket Companies Trading Up 0.5 %

RKT traded up $0.07 during trading on Thursday, hitting $13.73. 2,391,631 shares of the stock were exchanged, compared to its average volume of 2,897,149. Rocket Companies has a 1 year low of $8.81 and a 1 year high of $21.38. The firm has a market cap of $27.32 billion, a price-to-earnings ratio of -85.34 and a beta of 2.46. The firm has a 50 day simple moving average of $17.66 and a 200 day simple moving average of $16.25. The company has a debt-to-equity ratio of 1.51, a quick ratio of 13.18 and a current ratio of 15.47.

Rocket Companies (NYSE:RKT) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.08 earnings per share for the quarter, meeting the consensus estimate of $0.08. The firm had revenue of $647.00 million during the quarter, compared to the consensus estimate of $1.25 billion. Rocket Companies had a positive return on equity of 2.86% and a negative net margin of 0.38%. The firm’s quarterly revenue was down 46.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.01) earnings per share. As a group, equities analysts expect that Rocket Companies will post 0.22 EPS for the current year.

Hedge Funds Weigh In On Rocket Companies

Large investors have recently modified their holdings of the business. Boston Partners lifted its position in Rocket Companies by 4.2% in the first quarter. Boston Partners now owns 9,382,173 shares of the company’s stock valued at $136,462,000 after buying an additional 381,841 shares during the last quarter. State Street Corp raised its holdings in shares of Rocket Companies by 44.7% in the 3rd quarter. State Street Corp now owns 4,108,189 shares of the company’s stock valued at $78,836,000 after buying an additional 1,269,795 shares during the period. Renaissance Technologies LLC lifted its position in shares of Rocket Companies by 26.1% during the second quarter. Renaissance Technologies LLC now owns 2,468,700 shares of the company’s stock worth $33,821,000 after purchasing an additional 510,400 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Rocket Companies by 7.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,040,709 shares of the company’s stock valued at $19,971,000 after purchasing an additional 72,308 shares during the period. Finally, Marshall Wace LLP purchased a new position in shares of Rocket Companies in the second quarter valued at approximately $10,811,000. Institutional investors and hedge funds own 4.59% of the company’s stock.

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.