UBS Group Increases Rocket Companies (NYSE:RKT) Price Target to $14.00

Rocket Companies (NYSE:RKT) had its price objective increased by UBS Group from $11.50 to $14.00 in a report issued on Monday, Benzinga reports. The firm currently has a sell rating on the stock.

A number of other research analysts have also issued reports on the stock. Bank of America upped their price target on shares of Rocket Companies from $12.00 to $14.00 and gave the company an underperform rating in a research note on Thursday, August 29th. Wells Fargo & Company increased their price objective on shares of Rocket Companies from $13.00 to $15.00 and gave the stock an equal weight rating in a research note on Friday, August 2nd. Royal Bank of Canada increased their price objective on shares of Rocket Companies from $16.00 to $20.00 and gave the stock a sector perform rating in a research note on Wednesday, September 11th. JPMorgan Chase & Co. increased their price objective on shares of Rocket Companies from $13.50 to $15.00 and gave the stock an underweight rating in a research note on Friday, August 2nd. Finally, Wedbush increased their price objective on shares of Rocket Companies from $15.00 to $18.00 and gave the stock a neutral rating in a research note on Wednesday, September 11th. Five analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat, Rocket Companies has a consensus rating of Hold and an average price target of $13.73.

Rocket Companies Trading Down 1.2 %

Shares of Rocket Companies stock opened at $20.43 on Monday. The company has a current ratio of 13.18, a quick ratio of 13.18 and a debt-to-equity ratio of 1.27. Rocket Companies has a 12-month low of $7.17 and a 12-month high of $21.38. The firm has a market capitalization of $40.61 billion, a price-to-earnings ratio of 185.68 and a beta of 2.45. The firm’s 50 day simple moving average is $17.91 and its two-hundred day simple moving average is $15.01.

Rocket Companies (NYSE:RKT) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. Rocket Companies had a net margin of 0.29% and a return on equity of 0.90%. The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the prior year, the business posted ($0.05) EPS. Rocket Companies’s revenue for the quarter was up 5.3% compared to the same quarter last year. Analysts predict that Rocket Companies will post 0.22 EPS for the current year.

Institutional Trading of Rocket Companies

A number of hedge funds have recently added to or reduced their stakes in the company. First Affirmative Financial Network boosted its holdings in Rocket Companies by 6.1% during the first quarter. First Affirmative Financial Network now owns 14,272 shares of the company’s stock worth $208,000 after buying an additional 822 shares in the last quarter. Lakeshore Financial Planning Inc. boosted its holdings in Rocket Companies by 8.0% during the second quarter. Lakeshore Financial Planning Inc. now owns 13,496 shares of the company’s stock worth $185,000 after buying an additional 1,000 shares in the last quarter. DMC Group LLC boosted its holdings in Rocket Companies by 3.7% during the first quarter. DMC Group LLC now owns 29,077 shares of the company’s stock worth $423,000 after buying an additional 1,029 shares in the last quarter. Principal Securities Inc. purchased a new position in Rocket Companies during the fourth quarter valued at $26,000. Finally, Arizona State Retirement System lifted its holdings in Rocket Companies by 6.0% during the second quarter. Arizona State Retirement System now owns 34,974 shares of the company’s stock valued at $479,000 after purchasing an additional 1,979 shares in the last quarter. 4.59% of the stock is owned by hedge funds and other institutional investors.

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.