Rocket Companies (NYSE:RKT) Price Target Cut to $12.50 by Analysts at UBS Group

Rocket Companies (NYSE:RKT) had its price objective reduced by UBS Group from $14.00 to $12.50 in a report issued on Thursday morning,Benzinga reports. They currently have a sell rating on the stock.

A number of other analysts also recently issued reports on the stock. Wedbush restated a “neutral” rating and set a $13.00 price objective (down previously from $18.00) on shares of Rocket Companies in a report on Wednesday. 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 on the stock in a report on Wednesday. Piper Sandler lowered their price objective on Rocket Companies from $17.00 to $16.00 and set a “neutral” rating for the company in a research report on Thursday. Bank of America lifted their target price on shares of Rocket Companies from $12.00 to $14.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. Finally, Morgan Stanley began coverage on Rocket Companies in a research report on Tuesday, November 5th. They set an “equal weight” rating and a $18.00 price objective on the stock. Five investment analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat, Rocket Companies has an average rating of “Hold” and a consensus target price of $15.13.

Rocket Companies Stock Up 0.5 %

Shares of RKT stock traded up $0.07 during trading hours on Thursday, reaching $13.73. The company had a trading volume of 2,391,631 shares, compared to its average volume of 2,897,149. The business has a fifty day simple moving average of $17.66 and a 200-day simple moving average of $16.25. Rocket Companies has a 12 month low of $8.81 and a 12 month high of $21.38. The company has a market cap of $27.32 billion, a price-to-earnings ratio of -85.34 and a beta of 2.46. The company has a debt-to-equity ratio of 1.51, a current ratio of 15.47 and a quick ratio of 13.18.

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, hitting analysts’ consensus estimates of $0.08. The business had revenue of $647.00 million during the quarter, compared to the consensus estimate of $1.25 billion. Rocket Companies had a negative net margin of 0.38% and a positive return on equity of 2.86%. The firm’s quarterly revenue was down 46.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.01) EPS. On average, research analysts expect that Rocket Companies will post 0.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rocket Companies

A number of institutional investors have recently modified their holdings of the stock. Swiss National Bank grew its position in Rocket Companies by 4.1% during the 1st quarter. Swiss National Bank now owns 237,000 shares of the company’s stock valued at $3,448,000 after purchasing an additional 9,300 shares during the last quarter. First Eagle Investment Management LLC raised its holdings in Rocket Companies by 24.9% in the 1st quarter. First Eagle Investment Management LLC now owns 44,540 shares of the company’s stock worth $648,000 after acquiring an additional 8,891 shares during the last quarter. Rockport Wealth LLC bought a new position in Rocket Companies in the 1st quarter valued at approximately $291,000. EntryPoint Capital LLC purchased a new stake in Rocket Companies during the 1st quarter valued at $77,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Rocket Companies by 7.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 57,389 shares of the company’s stock worth $836,000 after purchasing an additional 3,858 shares in the last quarter. 4.59% of the stock is owned by hedge funds and other institutional investors.

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.