Rocket Companies, Inc. (NYSE:RKT – Get Free Report) has been given an average recommendation of “Reduce” by the twelve analysts that are currently covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a sell recommendation and six have assigned a hold recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $13.92.
Several research firms have recently commented on RKT. Morgan Stanley cut their price target on Rocket Companies from $16.00 to $13.00 and set an “equal weight” rating for the company in a research note on Thursday. JPMorgan Chase & Co. cut their price objective on shares of Rocket Companies from $19.00 to $14.00 and set an “underweight” rating for the company in a research report on Monday, December 9th. Piper Sandler lowered their target price on shares of Rocket Companies from $17.00 to $16.00 and set a “neutral” rating on the stock in a report on Thursday, November 14th. Bank of America increased their price target on shares of Rocket Companies from $14.00 to $15.00 and gave the stock an “underperform” rating in a report on Thursday, November 14th. Finally, Royal Bank of Canada lowered their price objective on Rocket Companies from $20.00 to $18.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 13th.
Hedge Funds Weigh In On Rocket Companies
Rocket Companies Trading Up 1.6 %
Shares of Rocket Companies stock opened at $11.82 on Monday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 15.47 and a current ratio of 15.47. The company has a market capitalization of $23.58 billion, a P/E ratio of -73.88 and a beta of 2.38. Rocket Companies has a 1 year low of $10.87 and a 1 year high of $21.38. The company’s fifty day moving average is $14.77 and its two-hundred day moving average is $16.18.
Rocket Companies (NYSE:RKT – Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.08 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.08. The firm had revenue of $647.00 million for the quarter, compared to analyst estimates of $1.25 billion. Rocket Companies had a positive return on equity of 2.86% and a negative net margin of 0.38%. The business’s revenue was down 46.2% on a year-over-year basis. During the same quarter last year, the company posted ($0.01) earnings per share. Analysts forecast that Rocket Companies will post 0.16 earnings per share for the current year.
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.
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