Rocket Companies (NYSE:RKT) Lifted to Market Perform at Keefe, Bruyette & Woods

Rocket Companies (NYSE:RKT – Get Rating) was upgraded by stock analysts at Keefe, Bruyette & Woods from an “underperform” rating to a “market perform” rating in a research note issued to investors on Sunday, The Fly reports.

A number of other research analysts also recently commented on the stock. Royal Bank of Canada lowered their price target on shares of Rocket Companies from $18.00 to $9.00 in a report on Thursday. The Goldman Sachs Group decreased their price objective on shares of Rocket Companies from $14.00 to $11.50 and set a “neutral” rating for the company in a research note on Monday, April 4th. Citigroup downgraded shares of Rocket Companies from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $14.00 to $8.00 in a research note on Wednesday. Zacks Investment Research downgraded shares of Rocket Companies from a “hold” rating to a “strong sell” rating in a research note on Wednesday, March 2nd. Finally, Credit Suisse Group decreased their price objective on shares of Rocket Companies from $16.00 to $13.00 and set a “neutral” rating for the company in a research note on Friday, February 25th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $14.18.

Shares of NYSE:RKT traded up $0.18 during trading on Friday, reaching $8.11. The company’s stock had a trading volume of 5,714,300 shares, compared to its average volume of 5,269,973. The company has a current ratio of 13.54, a quick ratio of 21.68 and a debt-to-equity ratio of 1.40. Rocket Companies has a 12 month low of $6.91 and a 12 month high of $22.68. The firm’s 50 day simple moving average is $9.87 and its two-hundred day simple moving average is $12.84. The stock has a market capitalization of $15.98 billion, a PE ratio of 4.89, a price-to-earnings-growth ratio of 0.99 and a beta of 1.39.

Rocket Companies (NYSE:RKT – Get Rating) last announced its quarterly earnings results on Tuesday, May 10th. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.04). Rocket Companies had a net margin of 2.16% and a return on equity of 31.45%. The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the previous year, the business posted $0.55 EPS. The firm’s revenue was down 52.2% on a year-over-year basis. Research analysts anticipate that Rocket Companies will post 0.8 EPS for the current fiscal year.

In other Rocket Companies news, CEO Jay Farner acquired 13,100 shares of Rocket Companies stock in a transaction that occurred on Friday, April 1st. The stock was bought at an average price of $11.04 per share, with a total value of $144,624.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders purchased 385,900 shares of company stock valued at $3,538,442 in the last quarter. 93.20% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of the stock. Gainplan LLC raised its stake in Rocket Companies by 4.7% in the third quarter. Gainplan LLC now owns 16,174 shares of the company’s stock worth $251,000 after buying an additional 726 shares in the last quarter. Sage Private Wealth Group LLC raised its stake in Rocket Companies by 20.7% in the fourth quarter. Sage Private Wealth Group LLC now owns 7,055 shares of the company’s stock worth $98,000 after buying an additional 1,211 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in Rocket Companies by 7.6% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 17,689 shares of the company’s stock worth $197,000 after buying an additional 1,250 shares in the last quarter. Toronto Dominion Bank raised its stake in Rocket Companies by 35.9% in the third quarter. Toronto Dominion Bank now owns 6,390 shares of the company’s stock worth $102,000 after buying an additional 1,687 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC raised its stake in Rocket Companies by 111.6% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 3,640 shares of the company’s stock worth $58,000 after buying an additional 1,920 shares in the last quarter. 3.71% of the stock is owned by institutional investors.

Rocket Companies Company Profile (Get Rating)

Rocket Companies, Inc engages in the tech-driven real estate, mortgage, and e-Commerce businesses 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; Rocket Auto, an automotive retail marketplace that provides centralized and virtual car sales support to online car purchasing platforms; and Rocket Loans, an online-based personal loans business.

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