Analysts Set Rocket Companies, Inc. (NYSE:RKT) PT at $19.87

Rocket Companies, Inc. (NYSE:RKT) has been assigned a consensus rating of “Moderate Buy” from the eighteen analysts that are covering the firm, MarketBeat reports. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $19.5714.

A number of research analysts have recently weighed in on RKT shares. Stephens cut their price target on shares of Rocket Companies from $22.50 to $20.00 and set an “overweight” rating on the stock in a report on Friday, August 7th. Royal Bank Of Canada reissued a “sector perform” rating and set a $16.00 target price (up from $15.00) on shares of Rocket Companies in a research report on Wednesday, August 12th. Benchmark cut their target price on Rocket Companies from $21.00 to $19.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Keefe, Bruyette & Woods reduced their price target on Rocket Companies from $20.00 to $19.00 and set an “outperform” rating for the company in a research report on Monday, August 10th. Finally, Morgan Stanley upgraded Rocket Companies from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $18.00 to $19.00 in a research note on Thursday, July 16th.

Rocket Companies Trading Down 0.1%

NYSE:RKT opened at $13.17 on Wednesday. The company has a market capitalization of $37.29 billion, a P/E ratio of 94.06, a P/E/G ratio of 3.62 and a beta of 2.20. The stock’s 50 day moving average price is $13.96 and its 200 day moving average price is $14.44. The company has a debt-to-equity ratio of 1.16, a quick ratio of 4.85 and a current ratio of 4.85. Rocket Companies has a 52 week low of $12.17 and a 52 week high of $24.36.

Rocket Companies (NYSE:RKT) last posted its earnings results on Thursday, August 6th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.16. The firm had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.81 billion. Rocket Companies had a net margin of 4.70% and a return on equity of 5.13%. The company’s revenue was up 91.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.04 earnings per share. On average, research analysts forecast that Rocket Companies will post 0.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Rocket Companies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RKT. Truvestments Capital LLC bought a new stake in shares of Rocket Companies during the 4th quarter worth $26,000. Acumen Wealth Advisors LLC bought a new position in Rocket Companies in the 4th quarter worth $26,000. Smithfield Trust Co acquired a new position in Rocket Companies during the 4th quarter worth $32,000. Key Financial Inc acquired a new position in Rocket Companies during the 4th quarter worth $32,000. Finally, Private Capital Management LLC bought a new stake in Rocket Companies during the third quarter valued at about $182,000. Institutional investors and hedge funds own 4.59% of the company’s stock.

Rocket Companies Company Profile

Rocket Companies, Inc is a Detroit-based financial technology company that provides digital platforms and services for homeownership and personal finance. Its flagship business, Rocket Mortgage, originates and services residential mortgage loans through an online application and lending process, serving borrowers across the United States.

The company also operates Rocket Homes, a real estate platform that connects consumers with real estate agents and home-buying resources; Rocket Loans, which provides personal loans; and Rocket Money, a personal finance app designed to help users manage subscriptions, budgeting and other aspects of their financial lives.