Rocket Companies (NYSE:RKT) Price Target Lowered to $14.00 at The Goldman Sachs Group

Rocket Companies (NYSE:RKT) had its price objective dropped by analysts at The Goldman Sachs Group from $16.00 to $14.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective suggests a potential upside of 27.62% from the company’s current price.

RKT has been the topic of several other research reports. Piper Sandler cut their target price on Rocket Companies from $17.00 to $16.00 and set a “neutral” rating on the stock in a research report on Thursday, November 14th. Royal Bank of Canada lowered their price target on Rocket Companies from $20.00 to $18.00 and set a “sector perform” rating for the company in a report on Wednesday, November 13th. Wedbush reissued a “neutral” rating and set a $13.00 target price (down previously from $18.00) on shares of Rocket Companies in a research report on Wednesday, November 13th. Morgan Stanley reduced their target price on shares of Rocket Companies from $16.00 to $13.00 and set an “equal weight” rating for the company in a report on Thursday, December 19th. Finally, JPMorgan Chase & Co. decreased their price target on Rocket Companies from $19.00 to $14.00 and set an “underweight” rating for the company in a research note on Monday, December 9th. Six equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $13.85.

Rocket Companies Trading Up 1.4 %

NYSE:RKT opened at $10.97 on Tuesday. The company’s 50 day moving average price is $13.42 and its 200-day moving average price is $15.93. 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 has a 52 week low of $10.67 and a 52 week high of $21.38. The stock has a market cap of $21.88 billion, a price-to-earnings ratio of -68.56 and a beta of 2.42.

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

Hedge Funds Weigh In On Rocket Companies

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

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.