Zurcher Kantonalbank Zurich Cantonalbank Has $422,000 Position in Rocket Companies, Inc. (NYSE:RKT)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Rocket Companies, Inc. (NYSE:RKT) by 39.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 29,153 shares of the company’s stock after buying an additional 8,269 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Rocket Companies were worth $422,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in RKT. Tennessee Valley Asset Management Partners acquired a new position in Rocket Companies in the fourth quarter valued at $37,000. Raymond James Financial Services Advisors Inc. acquired a new stake in Rocket Companies during the fourth quarter worth approximately $179,000. First Affirmative Financial Network grew its stake in Rocket Companies by 18.0% during the fourth quarter. First Affirmative Financial Network now owns 13,450 shares of the company’s stock worth $195,000 after purchasing an additional 2,052 shares during the period. DekaBank Deutsche Girozentrale lifted its stake in Rocket Companies by 232.0% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 16,028 shares of the company’s stock valued at $240,000 after buying an additional 11,200 shares during the period. Finally, DMC Group LLC boosted its holdings in shares of Rocket Companies by 11.7% during the 3rd quarter. DMC Group LLC now owns 21,145 shares of the company’s stock worth $173,000 after buying an additional 2,217 shares in the last quarter. 4.59% of the stock is currently owned by institutional investors.

Rocket Companies Stock Performance

Shares of RKT stock opened at $13.30 on Friday. The company has a debt-to-equity ratio of 0.92, a current ratio of 9.78 and a quick ratio of 9.78. The firm has a 50-day moving average of $12.71 and a 200-day moving average of $11.52. Rocket Companies, Inc. has a one year low of $7.17 and a one year high of $15.19. The company has a market cap of $26.41 billion, a P/E ratio of -83.13, a P/E/G ratio of 9.63 and a beta of 2.43.

Rocket Companies (NYSE:RKT) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). Rocket Companies had a negative net margin of 0.41% and a negative return on equity of 3.63%. The firm had revenue of $885.00 million during the quarter, compared to analysts’ expectations of $762.44 million. During the same quarter last year, the business posted ($0.12) EPS. The company’s quarterly revenue was up 29.6% on a year-over-year basis. Equities research analysts forecast that Rocket Companies, Inc. will post 0.26 EPS for the current fiscal year.

Analysts Set New Price Targets

RKT has been the subject of several research analyst reports. Wells Fargo & Company lowered their price objective on shares of Rocket Companies from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Friday, February 23rd. Citigroup boosted their target price on Rocket Companies from $10.00 to $11.00 and gave the company a “sell” rating in a research report on Wednesday, February 28th. Deutsche Bank Aktiengesellschaft initiated coverage on Rocket Companies in a report on Wednesday, January 10th. They issued a “hold” rating and a $10.00 price target on the stock. UBS Group upped their target price on Rocket Companies from $8.50 to $10.00 and gave the stock a “sell” rating in a research report on Monday, February 26th. Finally, Royal Bank of Canada lifted their price target on shares of Rocket Companies from $12.00 to $14.00 and gave the company a “sector perform” rating in a research report on Friday. Six research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat.com, Rocket Companies currently has a consensus rating of “Hold” and a consensus price target of $10.37.

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.