A number of research firms have changed their ratings and price targets for Rocket Companies (NYSE: RKT):
- 5/19/2022 – Rocket Companies had its price target lowered by analysts at Credit Suisse Group AG to $9.00. They now have a “neutral” rating on the stock.
- 5/17/2022 – Rocket Companies had its price target lowered by analysts at Wedbush to $7.00. They now have a “na” rating on the stock.
- 5/15/2022 – Rocket Companies was upgraded by analysts at Keefe, Bruyette & Woods from an “underperform” rating to a “market perform” rating. They now have a $7.00 price target on the stock, down previously from $10.00.
- 5/12/2022 – Rocket Companies had its price target lowered by analysts at Royal Bank of Canada from $18.00 to $9.00.
- 5/11/2022 – Rocket Companies was downgraded by analysts at Citigroup Inc. from a “buy” rating to a “neutral” rating. They now have a $8.00 price target on the stock, down previously from $14.00.
- 4/12/2022 – Rocket Companies had its price target lowered by analysts at Barclays PLC from $14.00 to $13.00. They now have an “equal weight” rating on the stock.
- 4/7/2022 – Rocket Companies had its price target lowered by analysts at Morgan Stanley from $12.00 to $11.00. They now have an “equal weight” rating on the stock.
- 4/4/2022 – Rocket Companies had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $14.00 to $11.50. They now have a “neutral” rating on the stock.
NYSE:RKT opened at $8.73 on Tuesday. The company has a current ratio of 13.54, a quick ratio of 13.54 and a debt-to-equity ratio of 1.40. The company has a market capitalization of $17.20 billion, a P/E ratio of 5.26, a P/E/G ratio of 3.28 and a beta of 1.39. Rocket Companies, Inc. has a 12 month low of $6.91 and a 12 month high of $22.68. The business’s 50-day moving average is $9.58 and its 200 day moving average is $12.46.
Rocket Companies (NYSE:RKT – Get Rating) last issued its quarterly earnings data on Tuesday, May 10th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.04). Rocket Companies had a net margin of 2.16% and a return on equity of 31.45%. The company had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter last year, the company earned $0.55 earnings per share. The company’s revenue for the quarter was down 52.2% on a year-over-year basis. On average, research analysts forecast that Rocket Companies, Inc. will post 0.27 earnings per share for the current year.
In other Rocket Companies news, CEO Jay Farner bought 8,600 shares of the business’s stock in a transaction dated Monday, April 4th. The shares were purchased at an average price of $11.52 per share, with a total value of $99,072.00. Following the completion of the purchase, the chief executive officer now owns 1,577,607 shares in the company, valued at approximately $18,174,032.64. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have bought 432,000 shares of company stock worth $3,937,817. Insiders own 93.20% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Moors & Cabot Inc. acquired a new stake in Rocket Companies during the 3rd quarter worth about $31,000. Rockefeller Capital Management L.P. boosted its holdings in Rocket Companies by 173.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 3,500 shares of the company’s stock worth $49,000 after buying an additional 2,219 shares during the last quarter. US Bancorp DE boosted its holdings in Rocket Companies by 341.4% in the 1st quarter. US Bancorp DE now owns 4,414 shares of the company’s stock worth $49,000 after buying an additional 3,414 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in Rocket Companies in the 1st quarter worth about $52,000. Finally, Patriot Financial Group Insurance Agency LLC boosted its holdings in Rocket Companies by 111.6% in the 3rd 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 during the last quarter. 3.71% of the stock is currently owned by institutional investors.
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.
- Get a free copy of the StockNews.com research report on Rocket Companies (RKT)
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