Analysts Set Rocket Companies, Inc. (NYSE:RKT) Price Target at $19.96

Shares of Rocket Companies, Inc. (NYSE:RKT) have been assigned an average rating of “Hold” from the seventeen analysts that are covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $19.96.

Several brokerages have issued reports on RKT. Argus started coverage on shares of Rocket Companies in a research report on Tuesday, June 8th. They set a “buy” rating and a $23.00 price objective on the stock. Morgan Stanley upped their price objective on Rocket Companies from $18.00 to $19.00 and gave the company an “equal weight” rating in a research note on Friday, August 13th. Zacks Investment Research upgraded Rocket Companies from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 24th. Credit Suisse Group upped their price target on Rocket Companies from $18.00 to $19.00 and gave the stock a “neutral” rating in a research note on Friday, August 13th. Finally, Jefferies Financial Group downgraded Rocket Companies from a “buy” rating to a “hold” rating and decreased their price target for the stock from $26.00 to $18.00 in a report on Monday, July 12th.

Shares of Rocket Companies stock remained flat at $$16.78 on Friday. The stock had a trading volume of 6,443,110 shares, compared to its average volume of 13,132,744. The firm has a market cap of $33.35 billion and a PE ratio of 5.41. The company has a current ratio of 24.42, a quick ratio of 24.42 and a debt-to-equity ratio of 2.74. Rocket Companies has a fifty-two week low of $16.22 and a fifty-two week high of $43.00. The business has a 50-day moving average price of $17.49 and a 200 day moving average price of $20.02.

Rocket Companies (NYSE:RKT) last posted its quarterly earnings data on Thursday, August 12th. The company reported $0.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.01. The business had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.77 billion. Rocket Companies had a return on equity of 94.06% and a net margin of 2.31%. As a group, research analysts predict that Rocket Companies will post 2.05 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of the stock. Huntington National Bank increased its holdings in Rocket Companies by 54.5% during the 2nd quarter. Huntington National Bank now owns 1,701 shares of the company’s stock valued at $33,000 after acquiring an additional 600 shares in the last quarter. Oppenheimer & Co. Inc. increased its stake in shares of Rocket Companies by 2.1% during the 1st quarter. Oppenheimer & Co. Inc. now owns 37,006 shares of the company’s stock worth $854,000 after purchasing an additional 755 shares in the last quarter. Advisory Services Network LLC raised its position in shares of Rocket Companies by 22.5% during the 1st quarter. Advisory Services Network LLC now owns 4,120 shares of the company’s stock worth $95,000 after purchasing an additional 757 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Rocket Companies by 6.9% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,865 shares of the company’s stock valued at $320,000 after buying an additional 900 shares in the last quarter. Finally, Telemus Capital LLC lifted its stake in Rocket Companies by 4.0% in the 2nd quarter. Telemus Capital LLC now owns 26,181 shares of the company’s stock valued at $507,000 after buying an additional 1,000 shares in the last quarter. 3.74% of the stock is owned by hedge funds and other institutional investors.

About Rocket Companies

Rocket Companies, Inc engages in the tech-driven real estate, mortgage, and eCommerce businesses in the United States and Canada. It operates in 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; Rocket Auto, an automotive retail marketplace that provides centralized and virtual car sales support to national car rental and online car purchasing platforms; and Rocket Loans, an online-based personal loans business.

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Analyst Recommendations for Rocket Companies (NYSE:RKT)

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