Rocket Companies (NYSE:RKT) Price Target Raised to $15.00

Rocket Companies (NYSE:RKT) had its price objective boosted by JPMorgan Chase & Co. from $13.50 to $15.00 in a report published on Friday morning, Benzinga reports. The firm currently has an underweight rating on the stock.

RKT has been the topic of a number of other reports. 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 note on Tuesday, May 7th. Deutsche Bank Aktiengesellschaft increased their price objective on Rocket Companies from $11.00 to $15.00 and gave the company a hold rating in a research note on Friday. Wedbush raised their price target on Rocket Companies from $13.00 to $15.00 and gave the company a neutral rating in a research note on Friday. Barclays raised their price objective on Rocket Companies from $9.00 to $10.00 and gave the stock an underweight rating in a report on Tuesday, July 9th. Finally, Royal Bank of Canada raised their price objective on shares of Rocket Companies from $12.00 to $14.00 and gave the company a sector perform rating in a research report on Friday, May 3rd. Five research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, Rocket Companies presently has a consensus rating of Hold and an average price target of $12.31.

Rocket Companies Trading Up 2.8 %

Rocket Companies stock traded up $0.49 during mid-day trading on Friday, hitting $17.74. The company’s stock had a trading volume of 6,881,155 shares, compared to its average volume of 2,617,962. The firm has a market capitalization of $35.27 billion, a PE ratio of 158.65 and a beta of 2.43. Rocket Companies has a 1 year low of $7.17 and a 1 year high of $18.40. The company has a current ratio of 12.83, a quick ratio of 12.83 and a debt-to-equity ratio of 1.20. The stock’s fifty day moving average is $14.45 and its two-hundred day moving average is $13.32.

Rocket Companies (NYSE:RKT) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.01. The company had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.22 billion. Rocket Companies had a return on equity of 0.91% and a net margin of 0.29%. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.05) earnings per share. On average, analysts anticipate that Rocket Companies will post 0.23 EPS for the current year.

Institutional Trading of Rocket Companies

A number of institutional investors and hedge funds have recently made changes to their positions in RKT. Boston Partners boosted its position in 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 period. Vanguard Group Inc. boosted its position in Rocket Companies by 10.4% in the 4th quarter. Vanguard Group Inc. now owns 11,702,838 shares of the company’s stock valued at $169,457,000 after buying an additional 1,101,325 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Rocket Companies in the 1st quarter valued at about $2,698,000. Bank of Nova Scotia purchased a new position in Rocket Companies in the 4th quarter valued at about $1,852,000. Finally, Greylin Investment Management Inc boosted its position in Rocket Companies by 45.7% in the 2nd quarter. Greylin Investment Management Inc now owns 355,868 shares of the company’s stock valued at $4,875,000 after buying an additional 111,563 shares during the last quarter. 4.59% of the stock is currently owned by institutional investors and hedge funds.

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.