Rocket Companies, Inc. (NYSE:RKT) Receives Average Recommendation of “Hold” from Analysts

Shares of Rocket Companies, Inc. (NYSE:RKT) have earned an average recommendation of “Hold” from the sixteen ratings firms that are currently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $18.1786.

RKT has been the subject of several research reports. Zacks Research upgraded Rocket Companies from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 14th. Bank of America upgraded shares of Rocket Companies from a “neutral” rating to a “buy” rating and lifted their target price for the company from $21.00 to $24.00 in a research note on Wednesday, September 10th. The Goldman Sachs Group reissued a “neutral” rating and issued a $22.00 target price (up from $16.00) on shares of Rocket Companies in a research report on Wednesday, October 29th. Oppenheimer initiated coverage on shares of Rocket Companies in a report on Thursday, November 13th. They set an “outperform” rating and a $25.00 price target on the stock. Finally, Wall Street Zen cut shares of Rocket Companies from a “hold” rating to a “sell” rating in a report on Saturday, November 8th.

Insider Activity

In other news, Director Matthew Rizik sold 2,500 shares of the stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $19.29, for a total transaction of $48,225.00. Following the transaction, the director owned 1,005,684 shares of the company’s stock, valued at approximately $19,399,644.36. This represents a 0.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last ninety days, insiders sold 7,500 shares of company stock worth $133,650. Corporate insiders own 92.64% of the company’s stock.

Institutional Trading of Rocket Companies

Several large investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. lifted its position in Rocket Companies by 18.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,890 shares of the company’s stock valued at $55,000 after purchasing an additional 605 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Rocket Companies by 3.5% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 18,817 shares of the company’s stock worth $365,000 after buying an additional 636 shares during the last quarter. Miller Wealth Advisors LLC lifted its holdings in Rocket Companies by 65.0% in the third quarter. Miller Wealth Advisors LLC now owns 1,650 shares of the company’s stock valued at $32,000 after buying an additional 650 shares during the period. Parallel Advisors LLC boosted its stake in Rocket Companies by 26.1% in the third quarter. Parallel Advisors LLC now owns 3,267 shares of the company’s stock valued at $63,000 after acquiring an additional 677 shares during the last quarter. Finally, Amundi grew its holdings in Rocket Companies by 2.3% during the 2nd quarter. Amundi now owns 34,170 shares of the company’s stock worth $498,000 after acquiring an additional 754 shares during the period. Institutional investors own 4.59% of the company’s stock.

Rocket Companies Trading Down 1.9%

Rocket Companies stock opened at $19.02 on Monday. Rocket Companies has a 12 month low of $10.06 and a 12 month high of $22.56. The company has a quick ratio of 19.68, a current ratio of 19.68 and a debt-to-equity ratio of 2.16. The stock has a market cap of $40.03 billion, a P/E ratio of 237.78 and a beta of 2.26. The company’s fifty day simple moving average is $17.62 and its 200-day simple moving average is $16.66.

Rocket Companies (NYSE:RKT) last released its quarterly earnings data on Thursday, October 30th. The company reported $0.07 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.07. Rocket Companies had a positive return on equity of 2.83% and a negative net margin of 1.77%.The firm had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter last year, the firm earned $0.08 earnings per share. The business’s revenue for the quarter was up 148.1% on a year-over-year basis. As a group, sell-side analysts forecast that Rocket Companies will post 0.15 EPS for the current fiscal year.

About Rocket Companies

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.