Rocket Companies (RKT) – Analysts’ Recent Ratings Updates

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.

The firm also recently announced a dividend, which was paid on Tuesday, March 22nd. Stockholders of record on Tuesday, March 8th were paid a dividend of $1.01 per share. The ex-dividend date of this dividend was Monday, March 7th.

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.

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