Rocket Companies (NYSE:RKT) Price Target Raised to $15.00

Rocket Companies (NYSE:RKT) had its target price increased by Keefe, Bruyette & Woods from $14.00 to $15.00 in a report released on Tuesday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.

A number of other equities analysts have also recently weighed in on RKT. Wedbush reissued a “neutral” rating and set a $12.00 price target (down from $13.00) on shares of Rocket Companies in a research report on Friday, May 9th. Jefferies Financial Group lifted their price target on shares of Rocket Companies from $11.50 to $14.00 and gave the stock a “hold” rating in a research report on Tuesday, July 22nd. The Goldman Sachs Group lifted their price target on shares of Rocket Companies from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 2nd. UBS Group boosted their target price on Rocket Companies from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Thursday, May 29th. Finally, Barclays boosted their target price on Rocket Companies from $14.00 to $16.00 and gave the company an “equal weight” rating in a research note on Friday, August 1st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $14.79.

Rocket Companies Price Performance

Shares of RKT stock opened at $17.56 on Tuesday. Rocket Companies has a 52-week low of $10.06 and a 52-week high of $21.38. The stock has a market cap of $35.11 billion, a PE ratio of -351.10 and a beta of 2.28. The company has a debt-to-equity ratio of 2.36, a quick ratio of 12.62 and a current ratio of 18.74. The firm’s 50 day moving average price is $14.36 and its two-hundred day moving average price is $13.48.

Rocket Companies (NYSE:RKT) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. Rocket Companies had a negative net margin of 0.01% and a positive return on equity of 3.18%. The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period last year, the firm earned $0.06 earnings per share. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. As a group, analysts forecast that Rocket Companies will post 0.15 EPS for the current year.

Institutional Investors Weigh In On Rocket Companies

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Rocket Companies by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 12,520,074 shares of the company’s stock valued at $140,976,000 after purchasing an additional 431,054 shares in the last quarter. Geode Capital Management LLC boosted its position in Rocket Companies by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 2,118,701 shares of the company’s stock valued at $23,865,000 after purchasing an additional 74,726 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in Rocket Companies by 34.2% during the fourth quarter. Envestnet Asset Management Inc. now owns 22,413 shares of the company’s stock valued at $252,000 after purchasing an additional 5,710 shares during the last quarter. Polymer Capital Management US LLC acquired a new position in Rocket Companies during the fourth quarter valued at approximately $229,000. Finally, Raymond James Financial Inc. acquired a new position in Rocket Companies during the fourth quarter valued at approximately $3,469,000. 4.59% of the stock is currently owned by institutional investors and hedge funds.

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.