Rocket Companies (NYSE:RKT) Price Target Increased to $15.00 by Analysts at Deutsche Bank Aktiengesellschaft

Rocket Companies (NYSE:RKT) had its price objective raised by Deutsche Bank Aktiengesellschaft from $11.00 to $15.00 in a research report released on Friday morning, Benzinga reports. The brokerage currently has a hold rating on the stock.

A number of other brokerages have also recently commented on RKT. Royal Bank of Canada lifted their target price on Rocket Companies from $12.00 to $14.00 and gave the stock a sector perform rating in a report on Friday, May 3rd. Barclays increased their price target on Rocket Companies from $9.00 to $10.00 and gave the company an underweight rating in a report on Tuesday, July 9th. Wedbush increased their price target on Rocket Companies from $13.00 to $15.00 and gave the company a neutral rating in a report on Friday. JPMorgan Chase & Co. increased their price target on Rocket Companies from $11.00 to $13.50 and gave the company an underweight rating in a report on Monday, July 8th. Finally, Piper Sandler increased their price target on Rocket Companies from $12.00 to $13.00 and gave the company a neutral rating in a report on Tuesday, May 7th. Five equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $12.31.

Rocket Companies Price Performance

RKT traded up $0.72 during trading hours on Friday, hitting $18.48. The company’s stock had a trading volume of 3,048,514 shares, compared to its average volume of 2,626,334. The stock has a market cap of $36.74 billion, a price-to-earnings ratio of 162.29 and a beta of 2.43. The business’s 50-day moving average price is $14.53 and its 200-day moving average price is $13.36. The company has a current ratio of 12.83, a quick ratio of 12.83 and a debt-to-equity ratio of 1.20. Rocket Companies has a 12 month low of $7.17 and a 12 month high of $18.53.

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

Institutional Trading of Rocket Companies

Hedge funds and other institutional investors have recently bought and sold shares of the business. Principal Securities Inc. purchased a new stake in Rocket Companies in the fourth quarter worth $26,000. Vima LLC bought a new position in shares of Rocket Companies during the 4th quarter worth $31,000. Tennessee Valley Asset Management Partners bought a new position in shares of Rocket Companies during the 4th quarter worth $37,000. Blue Trust Inc. bought a new position in shares of Rocket Companies during the 2nd quarter worth $61,000. Finally, EntryPoint Capital LLC bought a new position in shares of Rocket Companies during the 1st quarter worth $77,000. Hedge funds and other institutional investors own 4.59% of the company’s stock.

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.