Rocket Companies, Inc. (NYSE:RKT – Get Free Report) hit a new 52-week high during trading on Monday after Keefe, Bruyette & Woods upgraded the stock from an underperform rating to a market perform rating. The company traded as high as $17.64 and last traded at $17.50, with a volume of 2242166 shares trading hands. The stock had previously closed at $17.25.
Several other research firms also recently commented on RKT. JPMorgan Chase & Co. boosted their target price on shares of Rocket Companies from $13.50 to $15.00 and gave the stock an “underweight” rating in a research report on Friday, August 2nd. Wedbush upped their price objective on shares of Rocket Companies from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Royal Bank of Canada raised their target price on Rocket Companies from $14.00 to $16.00 and gave the company a “sector perform” rating in a report on Friday, August 2nd. Wells Fargo & Company upped their price target on Rocket Companies from $13.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Finally, Barclays raised their price objective on Rocket Companies from $9.00 to $10.00 and gave the company an “underweight” rating in a research note on Tuesday, July 9th. Five equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $12.31.
Check Out Our Latest Analysis on RKT
Institutional Trading of Rocket Companies
Rocket Companies Stock Up 3.2 %
The firm’s 50-day simple moving average is $14.62 and its 200-day simple moving average is $13.40. The company has a debt-to-equity ratio of 1.20, a quick ratio of 12.83 and a current ratio of 12.83. The company has a market capitalization of $36.43 billion, a price-to-earnings ratio of 166.56 and a beta of 2.43.
Rocket Companies (NYSE:RKT – Get Free Report) last released its earnings results on Thursday, August 1st. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.01. Rocket Companies had a net margin of 0.29% and a return on equity of 0.91%. The business had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter last year, the company earned ($0.05) earnings per share. The firm’s revenue was up 5.3% on a year-over-year basis. Sell-side analysts forecast that Rocket Companies, Inc. will post 0.23 earnings per share for the current year.
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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