Rocket Companies, Inc. (NYSE:RKT) Given Consensus Rating of “Reduce” by Brokerages

Shares of Rocket Companies, Inc. (NYSE:RKT) have been given an average recommendation of “Reduce” by the twelve brokerages that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $14.46.

Several equities research analysts recently weighed in on the company. Wedbush reaffirmed a “neutral” rating and issued a $12.00 price target (down from $13.00) on shares of Rocket Companies in a research note on Friday, May 9th. The Goldman Sachs Group increased their price objective on Rocket Companies from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft raised Rocket Companies from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research report on Wednesday, April 2nd. Barclays raised Rocket Companies from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $10.00 to $14.00 in a research report on Tuesday, April 8th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $18.00 target price on shares of Rocket Companies in a research report on Tuesday, April 1st.

Rocket Companies Trading Down 1.2%

Shares of Rocket Companies stock opened at $13.78 on Friday. The stock has a fifty day moving average price of $13.21 and a 200-day moving average price of $12.89. Rocket Companies has a 1 year low of $10.06 and a 1 year high of $21.38. The firm has a market cap of $27.56 billion, a PE ratio of -459.23 and a beta of 2.28. The company has a debt-to-equity ratio of 1.37, a current ratio of 12.62 and a quick ratio of 12.62.

Rocket Companies (NYSE:RKT) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.04. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.26 billion. Rocket Companies had a return on equity of 3.61% and a net margin of 0.06%. The company’s revenue for the quarter was down 10.8% on a year-over-year basis. During the same quarter last year, the company posted $0.04 EPS. Equities research analysts anticipate that Rocket Companies will post 0.15 EPS for the current year.

Hedge Funds Weigh In On Rocket Companies

A number of institutional investors have recently added to or reduced their stakes in RKT. Mather Group LLC. grew its stake in shares of Rocket Companies by 312.2% in the first quarter. Mather Group LLC. now owns 2,601 shares of the company’s stock valued at $31,000 after buying an additional 1,970 shares in the last quarter. Parallel Advisors LLC grew its stake in Rocket Companies by 302.2% during the 1st quarter. Parallel Advisors LLC now owns 2,956 shares of the company’s stock worth $36,000 after purchasing an additional 2,221 shares in the last quarter. Brooklyn Investment Group grew its stake in Rocket Companies by 251.3% during the 1st quarter. Brooklyn Investment Group now owns 3,390 shares of the company’s stock worth $41,000 after purchasing an additional 2,425 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in Rocket Companies during the 4th quarter worth $47,000. Finally, GAMMA Investing LLC grew its stake in Rocket Companies by 82.4% during the 1st quarter. GAMMA Investing LLC now owns 3,905 shares of the company’s stock worth $47,000 after purchasing an additional 1,764 shares in the last quarter. Hedge funds and other 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.