Rocket Companies (NYSE:RKT) Given New $14.00 Price Target at Royal Bank of Canada

Rocket Companies (NYSE:RKT) had its target price raised by Royal Bank of Canada from $12.00 to $14.00 in a report released on Friday morning, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the stock.

Other analysts also recently issued research reports about the stock. Wedbush reiterated a neutral rating and issued a $13.00 target price on shares of Rocket Companies in a report on Friday. Citigroup increased their price target on Rocket Companies from $10.00 to $11.00 and gave the company a sell rating in a research report on Wednesday, February 28th. Deutsche Bank Aktiengesellschaft started coverage on Rocket Companies in a research note on Wednesday, January 10th. They issued a hold rating and a $10.00 price objective for the company. UBS Group lifted their target price on Rocket Companies from $8.50 to $10.00 and gave the stock a sell rating in a research note on Monday, February 26th. Finally, Wells Fargo & Company decreased their price objective on shares of Rocket Companies from $14.00 to $13.00 and set an equal weight rating for the company in a report on Friday, February 23rd. Six analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $10.37.

Rocket Companies Stock Up 4.5 %

Shares of RKT traded up $0.57 on Friday, reaching $13.30. The company’s stock had a trading volume of 3,508,350 shares, compared to its average volume of 2,202,011. The stock has a market capitalization of $26.41 billion, a PE ratio of 120.92, a PEG ratio of 9.92 and a beta of 2.43. The company has a current ratio of 9.78, a quick ratio of 9.78 and a debt-to-equity ratio of 0.92. Rocket Companies has a twelve month low of $7.17 and a twelve month high of $15.19. The firm has a fifty day moving average of $12.75 and a 200-day moving average of $11.55.

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). Rocket Companies had a net margin of 0.43% and a negative return on equity of 1.06%. The company had revenue of $885.00 million during the quarter, compared to the consensus estimate of $762.44 million. During the same quarter in the prior year, the business earned ($0.12) EPS. The firm’s revenue for the quarter was up 29.6% compared to the same quarter last year. Equities analysts predict that Rocket Companies will post 0.26 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Principal Securities Inc. bought a new position in shares of Rocket Companies in the fourth quarter worth approximately $26,000. Vima LLC purchased a new position in Rocket Companies in the fourth quarter worth $31,000. Tennessee Valley Asset Management Partners bought a new position in Rocket Companies in the fourth quarter valued at $37,000. Westpac Banking Corp lifted its stake in Rocket Companies by 61.8% during the fourth quarter. Westpac Banking Corp now owns 5,927 shares of the company’s stock worth $86,000 after purchasing an additional 2,264 shares during the last quarter. Finally, Principal Financial Group Inc. purchased a new position in shares of Rocket Companies in the 1st quarter worth about $150,000. 4.59% of the stock is owned by 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.