Rocket Companies (NYSE:RKT) Rating Reiterated by Wedbush

Wedbush reiterated their neutral rating on shares of Rocket Companies (NYSE:RKT) in a report published on Friday morning, Benzinga reports. Wedbush currently has a $13.00 price objective on the stock.

Several other equities research analysts also recently commented on the company. UBS Group boosted their target price on Rocket Companies from $8.50 to $10.00 and gave the stock a sell rating in a report on Monday, February 26th. Wells Fargo & Company cut their price target on shares of Rocket Companies from $14.00 to $13.00 and set an equal weight rating on the stock in a report on Friday, February 23rd. Bank of America lifted their target price on Rocket Companies from $7.00 to $8.00 and gave the stock an underperform rating in a report on Monday, March 18th. Citigroup increased their price target on Rocket Companies from $10.00 to $11.00 and gave the company a sell rating in a research note on Wednesday, February 28th. Finally, JPMorgan Chase & Co. restated an underweight rating and issued a $10.50 price target (up previously from $8.50) on shares of Rocket Companies in a research report on Thursday, January 4th. Six research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat, Rocket Companies presently has a consensus rating of Hold and an average target price of $10.37.

Rocket Companies Stock Up 3.8 %

Shares of NYSE:RKT opened at $13.80 on Friday. The company has a current ratio of 12.83, a quick ratio of 9.78 and a debt-to-equity ratio of 1.20. The stock’s 50-day moving average price is $12.79 and its 200-day moving average price is $11.65. The stock has a market capitalization of $27.40 billion, a P/E ratio of 125.47, a price-to-earnings-growth ratio of 10.36 and a beta of 2.43. Rocket Companies has a 12-month low of $7.17 and a 12-month high of $15.19.

Rocket Companies (NYSE:RKT) last posted its earnings results on Thursday, February 22nd. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The firm had revenue of $885.00 million for the quarter, compared to analysts’ expectations of $762.44 million. Rocket Companies had a negative return on equity of 1.05% and a net margin of 0.43%. The firm’s revenue was up 29.6% on a year-over-year basis. During the same quarter last year, the company posted ($0.12) EPS. On average, equities analysts anticipate that Rocket Companies will post 0.26 earnings per share for the current year.

Institutional Investors Weigh In On Rocket Companies

Several hedge funds and other institutional investors have recently modified their holdings of RKT. Vanguard Group Inc. increased its stake in Rocket Companies by 10.4% in the 4th quarter. Vanguard Group Inc. now owns 11,702,838 shares of the company’s stock worth $169,457,000 after buying an additional 1,101,325 shares during the period. FMR LLC increased its holdings in shares of Rocket Companies by 1.1% in the 3rd quarter. FMR LLC now owns 11,540,617 shares of the company’s stock valued at $94,402,000 after acquiring an additional 122,894 shares during the period. Boston Partners lifted its stake in shares of Rocket Companies by 54.8% during the 4th quarter. Boston Partners now owns 9,000,332 shares of the company’s stock worth $130,277,000 after purchasing an additional 3,186,699 shares during the last quarter. Capital World Investors grew its stake in Rocket Companies by 0.3% in the fourth quarter. Capital World Investors now owns 3,642,099 shares of the company’s stock valued at $52,738,000 after purchasing an additional 10,068 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Rocket Companies by 5.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 716,974 shares of the company’s stock worth $10,382,000 after purchasing an additional 35,470 shares in the last quarter. 4.59% of the stock is currently owned by hedge funds and other institutional investors.

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.