Barclays Cuts Rocket Companies (NYSE:RKT) Price Target to $13.00

Rocket Companies (NYSE:RKT) had its price target reduced by Barclays from $14.00 to $13.00 in a report published on Wednesday morning,Benzinga reports. Barclays currently has an underweight rating on the stock.

A number of other brokerages have also recently issued reports on RKT. Deutsche Bank Aktiengesellschaft upped their price objective on Rocket Companies from $11.00 to $15.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. UBS Group increased their price target on shares of Rocket Companies from $11.50 to $14.00 and gave the company a “sell” rating in a research note on Monday, September 16th. Royal Bank of Canada boosted their price objective on shares of Rocket Companies from $16.00 to $20.00 and gave the stock a “sector perform” rating in a research note on Wednesday, September 11th. Wedbush reiterated a “neutral” rating and issued a $13.00 target price (down from $18.00) on shares of Rocket Companies in a research note on Wednesday. Finally, Keefe, Bruyette & Woods raised Rocket Companies from an “underperform” rating to a “market perform” rating in a research report on Monday, August 5th. Five analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $15.13.

Rocket Companies Stock Down 0.4 %

NYSE:RKT opened at $13.60 on Wednesday. Rocket Companies has a 1 year low of $8.81 and a 1 year high of $21.38. The stock has a 50-day moving average price of $17.54 and a two-hundred day moving average price of $16.26. The stock has a market cap of $27.06 billion, a price-to-earnings ratio of -85.00 and a beta of 2.46. The company has a current ratio of 15.47, a quick ratio of 13.18 and a debt-to-equity ratio of 1.51.

Rocket Companies (NYSE:RKT) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.08. Rocket Companies had a positive return on equity of 2.86% and a negative net margin of 0.38%. The firm had revenue of $647.00 million for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter last year, the business posted ($0.01) EPS. The company’s revenue for the quarter was down 46.2% on a year-over-year basis. As a group, equities analysts expect that Rocket Companies will post 0.22 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in shares of Rocket Companies in the third quarter valued at about $39,000. Blue Trust Inc. acquired a new stake in shares of Rocket Companies during the 2nd quarter worth $61,000. Quarry LP increased its position 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 purchasing an additional 3,899 shares during the period. EntryPoint Capital LLC acquired a new position in Rocket Companies in the first quarter valued at about $77,000. Finally, V Square Quantitative Management LLC bought a new stake in Rocket Companies during the third quarter worth about $120,000. Institutional investors 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.