Rocket Companies (NYSE:RKT – Free Report) had its target price hoisted by Royal Bank of Canada from $12.00 to $14.00 in a research note released on Friday, Benzinga reports. The brokerage currently has a sector perform rating on the stock.
Several other equities analysts also recently weighed in on the company. UBS Group raised their price target on Rocket Companies from $8.50 to $10.00 and gave the stock a sell rating in a research report on Monday, February 26th. Bank of America upped their target price 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 reiterated a neutral rating and set a $13.00 price target on shares of Rocket Companies in a report on Friday. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Rocket Companies in a research report on Wednesday, January 10th. They issued a hold rating and a $10.00 price objective for the company. Finally, Wells Fargo & Company decreased their target price on shares of Rocket Companies from $14.00 to $13.00 and set an equal weight rating on the stock in a research report on Friday, February 23rd. Six equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $10.37.
Read Our Latest Analysis on Rocket Companies
Rocket Companies Stock Performance
Rocket Companies (NYSE:RKT – Get Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). Rocket Companies had a net margin of 0.43% and a negative return on equity of 1.05%. The business had revenue of $885.00 million during the quarter, compared to analysts’ expectations of $762.44 million. During the same quarter last year, the firm earned ($0.12) earnings per share. The firm’s quarterly revenue was up 29.6% compared to the same quarter last year. On average, equities analysts forecast that Rocket Companies will post 0.26 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Rocket Companies
Several institutional investors and hedge funds have recently bought and sold shares of RKT. Principal Financial Group Inc. acquired a new position in Rocket Companies in the 1st quarter valued at approximately $150,000. Whalen Wealth Management Inc. acquired a new position in shares of Rocket Companies in the first quarter worth $201,000. DMC Group LLC raised its holdings in shares of Rocket Companies by 3.7% during the first quarter. DMC Group LLC now owns 29,077 shares of the company’s stock worth $423,000 after acquiring an additional 1,029 shares in the last quarter. Atlas Capital Advisors LLC boosted its position in Rocket Companies by 1,682.6% during the first quarter. Atlas Capital Advisors LLC now owns 17,844 shares of the company’s stock valued at $260,000 after purchasing an additional 16,843 shares during the last quarter. Finally, First Affirmative Financial Network grew its stake in Rocket Companies by 6.1% in the first 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 in the last quarter. Hedge funds and other institutional investors 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.
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