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

Rocket Companies, Inc. (NYSE:RKT) has received an average recommendation of “Reduce” from the thirteen brokerages that are presently covering the firm, MarketBeat reports. Six research analysts have rated the stock with a sell recommendation and seven have issued a hold recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $10.02.

Several brokerages have weighed in on RKT. UBS Group lifted their target price on Rocket Companies from $8.50 to $10.00 and gave the company a “sell” rating in a research note on Monday, February 26th. Deutsche Bank Aktiengesellschaft began coverage on Rocket Companies in a research note on Wednesday, January 10th. They issued a “hold” rating and a $10.00 target price on the stock. Citigroup lifted 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. JPMorgan Chase & Co. restated an “underweight” rating and issued a $10.50 price target (up from $8.50) on shares of Rocket Companies in a research note on Thursday, January 4th. Finally, Keefe, Bruyette & Woods restated an “underperform” rating and issued a $10.75 price target on shares of Rocket Companies in a research note on Wednesday, January 3rd.

Hedge Funds Weigh In On Rocket Companies

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Cipher Capital LP raised its holdings in Rocket Companies by 3.5% during the second quarter. Cipher Capital LP now owns 35,156 shares of the company’s stock worth $315,000 after purchasing an additional 1,177 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in Rocket Companies by 2.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 58,150 shares of the company’s stock worth $407,000 after purchasing an additional 1,219 shares during the last quarter. Truist Financial Corp raised its holdings in shares of Rocket Companies by 8.9% in the fourth quarter. Truist Financial Corp now owns 16,287 shares of the company’s stock worth $114,000 after acquiring an additional 1,333 shares during the last quarter. Deutsche Bank AG raised its holdings in shares of Rocket Companies by 34.7% in the first quarter. Deutsche Bank AG now owns 5,243 shares of the company’s stock worth $48,000 after acquiring an additional 1,351 shares during the last quarter. Finally, Cetera Investment Advisers raised its holdings in shares of Rocket Companies by 11.1% in the second quarter. Cetera Investment Advisers now owns 15,310 shares of the company’s stock worth $137,000 after acquiring an additional 1,533 shares during the last quarter. 4.59% of the stock is owned by institutional investors and hedge funds.

Rocket Companies Trading Down 0.1 %

RKT opened at $14.55 on Friday. The firm has a market cap of $28.89 billion, a price-to-earnings ratio of -90.94, a price-to-earnings-growth ratio of 11.81 and a beta of 2.39. Rocket Companies has a 52 week low of $7.17 and a 52 week high of $15.19. The business’s 50 day moving average is $12.39 and its two-hundred day moving average is $10.84. The company has a quick ratio of 9.78, a current ratio of 9.78 and a debt-to-equity ratio of 0.92.

Rocket Companies (NYSE:RKT) last announced its earnings results on Thursday, February 22nd. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.01). Rocket Companies had a negative net margin of 0.41% and a negative return on equity of 3.63%. The company had revenue of $885.00 million during the quarter, compared to analysts’ expectations of $762.44 million. During the same quarter last year, the business posted ($0.12) earnings per share. The company’s revenue for the quarter was up 29.6% compared to the same quarter last year. On average, research analysts predict that Rocket Companies will post 0.25 EPS for the current 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.