Rocket Companies, Inc. (NYSE:RKT – Get Free Report)’s stock price hit a new 52-week high during trading on Friday . The company traded as high as $15.99 and last traded at $15.91, with a volume of 3144510 shares. The stock had previously closed at $15.22.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on RKT. Wedbush reissued a “neutral” rating and issued a $13.00 price objective on shares of Rocket Companies in a research note on Friday, May 3rd. Royal Bank of Canada upped their price target on Rocket Companies from $12.00 to $14.00 and gave the stock a “sector perform” rating in a research report on Friday, May 3rd. JPMorgan Chase & Co. upped their price target on Rocket Companies from $11.00 to $13.50 and gave the stock an “underweight” rating in a research report on Monday, July 8th. Piper Sandler upped their price target on Rocket Companies from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 7th. Finally, Barclays upped their price target on Rocket Companies from $9.00 to $10.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 9th. Six research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $11.10.
View Our Latest Stock Analysis on Rocket Companies
Rocket Companies Stock Performance
Rocket Companies (NYSE:RKT – Get Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.07 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.08. Rocket Companies had a net margin of 0.43% and a negative return on equity of 1.05%. The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.02 billion. On average, research analysts predict that Rocket Companies, Inc. will post 0.23 EPS for the current year.
Institutional Investors Weigh In On Rocket Companies
Several hedge funds have recently modified their holdings of RKT. Raymond James & Associates boosted its stake in shares of Rocket Companies by 6.4% during the 4th quarter. Raymond James & Associates now owns 172,308 shares of the company’s stock worth $2,495,000 after acquiring an additional 10,314 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Rocket Companies during the 4th quarter worth about $179,000. Global Retirement Partners LLC raised its position in shares of Rocket Companies by 7.5% during the 4th quarter. Global Retirement Partners LLC now owns 70,830 shares of the company’s stock worth $1,026,000 after purchasing an additional 4,917 shares during the last quarter. Oak Thistle LLC raised its position in shares of Rocket Companies by 76.5% during the 4th quarter. Oak Thistle LLC now owns 62,168 shares of the company’s stock worth $900,000 after purchasing an additional 26,948 shares during the last quarter. Finally, Integrated Investment Consultants LLC raised its position in shares of Rocket Companies by 1,069.0% during the 4th quarter. Integrated Investment Consultants LLC now owns 650,598 shares of the company’s stock worth $9,421,000 after purchasing an additional 594,945 shares during the last quarter. 4.59% of the stock is 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.
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