Rocket Companies, Inc. (NYSE:RKT) Receives Consensus Rating of “Reduce” from Brokerages

Rocket Companies, Inc. (NYSE:RKT) has received an average recommendation of “Reduce” from the thirteen brokerages that are presently covering the stock, MarketBeat Ratings reports. Six research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $10.02.

RKT has been the subject of several research analyst reports. Bank of America boosted their price target on shares of Rocket Companies from $7.00 to $8.00 and gave the company an “underperform” rating in a report on Monday, March 18th. Wedbush reaffirmed a “neutral” rating and issued a $13.00 target price on shares of Rocket Companies in a research note on Friday, February 23rd. Wells Fargo & Company reduced their target price 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. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and issued a $10.75 target price on shares of Rocket Companies in a research note on Wednesday, January 3rd. Finally, UBS Group upped their target price on shares of Rocket Companies from $8.50 to $10.00 and gave the stock a “sell” rating in a research note on Monday, February 26th.

Rocket Companies Stock Performance

RKT stock opened at $11.43 on Wednesday. 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 company has a 50 day moving average price of $12.53 and a 200 day moving average price of $11.20. Rocket Companies has a fifty-two week low of $7.17 and a fifty-two week high of $15.19. The stock has a market capitalization of $22.70 billion, a PE ratio of -71.44, a price-to-earnings-growth ratio of 10.28 and a beta of 2.41.

Rocket Companies (NYSE:RKT) last released its earnings results on Thursday, February 22nd. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). Rocket Companies had a negative return on equity of 3.63% and a negative net margin of 0.41%. The business had revenue of $885.00 million for the quarter, compared to analyst estimates of $762.44 million. During the same period in the prior year, the firm posted ($0.12) EPS. Rocket Companies’s revenue was up 29.6% on a year-over-year basis. Analysts forecast that Rocket Companies will post 0.24 EPS for the current year.

Institutional Trading of Rocket Companies

Several large investors have recently made changes to their positions in the company. First Affirmative Financial Network lifted its stake in Rocket Companies by 6.1% in the 1st quarter. First Affirmative Financial Network now owns 14,272 shares of the company’s stock valued at $208,000 after purchasing an additional 822 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in Rocket Companies by 2.1% in the 4th quarter. Public Employees Retirement System of Ohio now owns 58,150 shares of the company’s stock valued at $407,000 after purchasing an additional 1,219 shares during the last quarter. Truist Financial Corp lifted its stake in Rocket Companies by 8.9% in the 4th quarter. Truist Financial Corp now owns 16,287 shares of the company’s stock valued at $114,000 after purchasing an additional 1,333 shares during the last quarter. Deutsche Bank AG lifted its stake in Rocket Companies by 34.7% in the 1st quarter. Deutsche Bank AG now owns 5,243 shares of the company’s stock valued at $48,000 after purchasing an additional 1,351 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its stake in Rocket Companies by 10.8% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 18,076 shares of the company’s stock valued at $262,000 after purchasing an additional 1,763 shares during the last quarter. 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.