Brokerages Set Rocket Companies, Inc. (NYSE:RKT) Price Target at $13.92

Shares of Rocket Companies, Inc. (NYSE:RKT) have been assigned an average recommendation of “Reduce” from the twelve analysts that are presently covering the stock, MarketBeat reports. Six analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $13.92.

A number of equities analysts have weighed in on the company. Wedbush reissued a “neutral” rating and issued a $13.00 target price (down previously from $18.00) on shares of Rocket Companies in a research report on Wednesday, November 13th. Barclays decreased their price objective on shares of Rocket Companies from $14.00 to $13.00 and set an “underweight” rating for the company in a report on Wednesday, November 13th. Piper Sandler cut their target price on shares of Rocket Companies from $17.00 to $16.00 and set a “neutral” rating for the company in a research report on Thursday, November 14th. Royal Bank of Canada decreased their target price on shares of Rocket Companies from $20.00 to $18.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 13th. Finally, Morgan Stanley dropped their price target on Rocket Companies from $16.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 19th.

Hedge Funds Weigh In On Rocket Companies

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

Rocket Companies Trading Down 0.9 %

NYSE:RKT opened at $11.10 on Monday. Rocket Companies has a 52 week low of $10.87 and a 52 week high of $21.38. The stock has a market cap of $22.14 billion, a price-to-earnings ratio of -69.38 and a beta of 2.38. The company’s 50 day moving average price is $14.07 and its 200-day moving average price is $16.05. The company has a quick ratio of 15.47, a current ratio of 15.47 and a debt-to-equity ratio of 1.51.

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