Rocket Companies (NYSE:RKT) Upgraded by UBS Group to “Neutral” Rating

Rocket Companies (NYSE:RKT) was upgraded by stock analysts at UBS Group from a “sell” rating to a “neutral” rating in a research report issued on Friday,Briefing.com Automated Import reports. The brokerage currently has a $11.50 price target on the stock. UBS Group’s price target would indicate a potential upside of 11.54% from the company’s current price.

A number of other equities research analysts have also issued reports on the company. Keefe, Bruyette & Woods dropped their target price on Rocket Companies from $11.50 to $10.50 and set an “underperform” rating on the stock in a research report on Friday, January 3rd. Barclays cut their price objective on shares of Rocket Companies from $14.00 to $13.00 and set an “underweight” rating on the stock in a research report on Wednesday, November 13th. The Goldman Sachs Group reduced their target price on shares of Rocket Companies from $16.00 to $14.00 and set a “neutral” rating for the company in a report on Tuesday. Piper Sandler lowered their price target on shares of Rocket Companies from $17.00 to $16.00 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. Finally, Bank of America increased their price objective on shares of Rocket Companies from $14.00 to $15.00 and gave the stock an “underperform” rating in a research note on Thursday, November 14th. Five research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Based on data from MarketBeat, Rocket Companies presently has a consensus rating of “Hold” and a consensus target price of $13.77.

Rocket Companies Stock Down 1.3 %

Shares of Rocket Companies stock traded down $0.14 on Friday, hitting $10.31. The company had a trading volume of 294,007 shares, compared to its average volume of 2,320,284. The stock has a 50-day moving average of $13.07 and a 200-day moving average of $15.83. 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 has a twelve month low of $10.27 and a twelve month high of $21.38. The firm has a market capitalization of $20.57 billion, a P/E ratio of -64.44 and a beta of 2.42.

Rocket Companies (NYSE:RKT) last announced its earnings results on Tuesday, November 12th. The company reported $0.08 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.08. Rocket Companies had a negative net margin of 0.38% and a positive return on equity of 2.86%. The firm had revenue of $647.00 million during the quarter, compared to analyst estimates of $1.25 billion. During the same period in the prior year, the business earned ($0.01) EPS. The company’s revenue for the quarter was down 46.2% compared to the same quarter last year. Research analysts predict that Rocket Companies will post 0.16 earnings per share for the current year.

Hedge Funds Weigh In On Rocket Companies

A number of hedge funds have recently bought and sold shares of the business. Capital Performance Advisors LLP acquired a new position in shares of Rocket Companies during the 3rd quarter worth approximately $39,000. Quarry LP grew its position in Rocket Companies by 858.8% during the second quarter. Quarry LP now owns 4,353 shares of the company’s stock worth $60,000 after buying an additional 3,899 shares in the last quarter. V Square Quantitative Management LLC bought a new position in Rocket Companies during the 3rd quarter worth $120,000. Blue Trust Inc. raised its holdings in Rocket Companies by 54.1% in the 3rd quarter. Blue Trust Inc. now owns 6,438 shares of the company’s stock valued at $124,000 after acquiring an additional 2,261 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its position in shares of Rocket Companies by 3,429.7% during the 3rd quarter. International Assets Investment Management LLC now owns 7,377 shares of the company’s stock valued at $142,000 after acquiring an additional 7,168 shares during the period. 4.59% of the stock is owned by institutional investors.

Rocket Companies Company Profile

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.