Rocket Companies (NYSE:RKT – Free Report) had its target price boosted by Wedbush from $13.00 to $15.00 in a research report sent to investors on Friday, MarketBeat reports. The brokerage currently has a neutral rating on the stock.
Several other brokerages also recently weighed in on RKT. Barclays upped their target price on Rocket Companies from $9.00 to $10.00 and gave the stock an underweight rating in a research note on Tuesday, July 9th. JPMorgan Chase & Co. lifted their target price on shares of Rocket Companies from $11.00 to $13.50 and gave the company an underweight rating in a research report on Monday, July 8th. Piper Sandler lifted their price objective on Rocket Companies from $12.00 to $13.00 and gave the stock a neutral rating in a report on Tuesday, May 7th. Finally, Royal Bank of Canada increased their target price on Rocket Companies from $12.00 to $14.00 and gave the company a sector perform rating in a report on Friday, May 3rd. Five investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat.com, Rocket Companies currently has an average rating of Hold and a consensus price target of $12.31.
Read Our Latest Stock Report on Rocket Companies
Rocket Companies Stock Performance
Rocket Companies (NYSE:RKT – Get Free Report) 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 for the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter last year, the company earned ($0.05) EPS. The business’s revenue was up 5.3% on a year-over-year basis. On average, research analysts forecast that Rocket Companies will post 0.23 EPS for the current year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of the company. Principal Securities Inc. acquired a new stake in shares of Rocket Companies during the fourth quarter worth about $26,000. Vima LLC acquired a new stake in shares of Rocket Companies in the fourth quarter valued at $31,000. Tennessee Valley Asset Management Partners purchased a new position in Rocket Companies in the fourth quarter valued at $37,000. Blue Trust Inc. purchased a new stake in Rocket Companies during the 2nd quarter worth about $61,000. Finally, EntryPoint Capital LLC acquired a new stake in Rocket Companies in the 1st quarter valued at about $77,000. 4.59% of the stock is currently 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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