Rocket Companies (NYSE:RKT) Price Target Raised to $10.00 at Barclays

Rocket Companies (NYSE:RKTFree Report) had its price target hoisted by Barclays from $9.00 to $10.00 in a research report released on Tuesday, Benzinga reports. Barclays currently has an underweight rating on the stock.

Several other research firms also recently commented on RKT. Piper Sandler increased their price objective on Rocket Companies from $12.00 to $13.00 and gave the company a neutral rating in a report on Tuesday, May 7th. Wedbush reissued a neutral rating and issued a $13.00 price objective on shares of Rocket Companies in a research report on Friday, May 3rd. Royal Bank of Canada upped their target price on shares of Rocket Companies from $12.00 to $14.00 and gave the company a sector perform rating in a report on Friday, May 3rd. Bank of America lifted their price target on Rocket Companies from $7.00 to $8.00 and gave the stock an underperform rating in a report on Monday, March 18th. Finally, JPMorgan Chase & Co. upped their price objective on Rocket Companies from $11.00 to $13.50 and gave the company an underweight rating in a research note on Monday. Six research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat, the company has an average rating of Hold and an average price target of $11.10.

View Our Latest Research Report on RKT

Rocket Companies Stock Down 0.2 %

Rocket Companies stock opened at $13.25 on Tuesday. The company has a fifty day simple moving average of $13.98 and a 200 day simple moving average of $13.08. The company has a current ratio of 12.83, a quick ratio of 12.83 and a debt-to-equity ratio of 1.20. Rocket Companies has a 1-year low of $7.17 and a 1-year high of $15.81. The company has a market cap of $26.35 billion, a P/E ratio of 120.47 and a beta of 2.43.

Rocket Companies (NYSE:RKTGet Free Report) last released its earnings results on Thursday, May 2nd. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.08. Rocket Companies had a negative return on equity of 1.05% and a net margin of 0.43%. The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.02 billion. Research analysts anticipate that Rocket Companies will post 0.24 earnings per share for the current fiscal year.

Institutional Trading of Rocket Companies

Institutional investors have recently bought and sold shares of the business. Capital Fund Management S.A. increased its position in shares of Rocket Companies by 27.8% in the fourth quarter. Capital Fund Management S.A. now owns 502,110 shares of the company’s stock worth $7,271,000 after purchasing an additional 109,278 shares during the period. Nisa Investment Advisors LLC bought a new position in Rocket Companies in the 4th quarter valued at about $886,000. Wedmont Private Capital acquired a new position in shares of Rocket Companies in the 1st quarter valued at approximately $154,000. Vanguard Group Inc. lifted its holdings in shares of Rocket Companies by 10.4% during the 4th quarter. Vanguard Group Inc. now owns 11,702,838 shares of the company’s stock worth $169,457,000 after acquiring an additional 1,101,325 shares during the period. Finally, International Assets Investment Management LLC boosted its position in shares of Rocket Companies by 1,348.3% during the 4th quarter. International Assets Investment Management LLC now owns 34,889 shares of the company’s stock worth $505,000 after acquiring an additional 32,480 shares in the last quarter. Institutional investors own 4.59% of the company’s stock.

Rocket Companies Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Rocket Companies (NYSE:RKT)

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