Rocket Companies, Inc. (NYSE:RKT) Given Consensus Rating of “Reduce” by Brokerages

Shares of Rocket Companies, Inc. (NYSE:RKT) have been given an average recommendation of “Reduce” by the thirteen ratings firms that are covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a sell recommendation and eight have issued a hold recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $13.50.

RKT has been the topic of a number of recent research reports. Barclays dropped their price objective on shares of Rocket Companies from $14.00 to $13.00 and set an “underweight” rating on the stock in a research note on Wednesday, November 13th. Bank of America raised their price objective on shares of Rocket Companies from $14.00 to $15.00 and gave the company an “underperform” rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. dropped their price objective on shares of Rocket Companies from $14.00 to $10.50 and set an “underweight” rating on the stock in a research note on Tuesday, January 14th. Morgan Stanley dropped their price objective on shares of Rocket Companies from $16.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 19th. Finally, UBS Group upgraded shares of Rocket Companies from a “sell” rating to a “neutral” rating and lowered their target price for the company from $12.50 to $11.50 in a report on Friday, January 10th.

Rocket Companies Stock Down 0.6 %

Shares of NYSE RKT opened at $11.88 on Friday. The firm has a market cap of $23.69 billion, a PE ratio of -74.22 and a beta of 2.42. Rocket Companies has a 12-month low of $10.06 and a 12-month high of $21.38. The company’s fifty day simple moving average is $12.31 and its 200 day simple moving average is $15.70. The company has a quick ratio of 15.47, a current ratio of 15.47 and a debt-to-equity ratio of 1.51.

Rocket Companies (NYSE:RKT) last issued its earnings results on Tuesday, November 12th. The company reported $0.08 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.08. Rocket Companies had a negative net margin of 0.38% and a positive return on equity of 2.86%. The business had revenue of $647.00 million for the quarter, compared to analyst estimates of $1.25 billion. During the same period in the prior year, the firm earned ($0.01) earnings per share. Rocket Companies’s revenue was down 46.2% on a year-over-year basis. As a group, sell-side analysts forecast that Rocket Companies will post 0.15 earnings per share for the current fiscal year.

Institutional Trading of Rocket Companies

Large investors have recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP purchased a new stake in Rocket Companies during the third quarter worth about $39,000. Quarry LP increased its holdings in Rocket Companies by 858.8% during the second quarter. Quarry LP now owns 4,353 shares of the company’s stock worth $60,000 after buying an additional 3,899 shares during the last quarter. KBC Group NV boosted its position in Rocket Companies by 58.1% during the fourth quarter. KBC Group NV now owns 6,056 shares of the company’s stock worth $68,000 after purchasing an additional 2,226 shares during the period. V Square Quantitative Management LLC bought a new position in Rocket Companies during the third quarter worth about $120,000. Finally, Blue Trust Inc. boosted its position in Rocket Companies by 54.1% during the third quarter. Blue Trust Inc. now owns 6,438 shares of the company’s stock worth $124,000 after purchasing an additional 2,261 shares during the period. Hedge funds and other institutional investors own 4.59% of the company’s stock.

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.