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

Rocket Companies, Inc. (NYSE:RKT) has received a consensus recommendation of “Reduce” from the thirteen brokerages that are covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a sell recommendation and seven have assigned a hold recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $10.02.

Several research analysts have weighed in on RKT shares. Deutsche Bank Aktiengesellschaft started coverage on Rocket Companies in a research note on Wednesday, January 10th. They issued a “hold” rating and a $10.00 price target for the company. UBS Group upped their price target on Rocket Companies from $8.50 to $10.00 and gave the stock a “sell” rating in a research note on Monday, February 26th. Citigroup upped their price target on Rocket Companies from $10.00 to $11.00 and gave the stock a “sell” rating in a research note on Wednesday, February 28th. Bank of America upped their price target on Rocket Companies from $7.00 to $8.00 and gave the stock an “underperform” rating in a research note on Monday, March 18th. Finally, Wells Fargo & Company dropped their price target on Rocket Companies from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Friday, February 23rd.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Principal Securities Inc. purchased a new position in Rocket Companies during the fourth quarter worth $26,000. Vima LLC bought a new stake in shares of Rocket Companies during the fourth quarter worth $31,000. Tennessee Valley Asset Management Partners bought a new stake in shares of Rocket Companies during the fourth quarter worth $37,000. Westpac Banking Corp lifted its position in shares of Rocket Companies by 61.8% during the fourth quarter. Westpac Banking Corp now owns 5,927 shares of the company’s stock worth $86,000 after purchasing an additional 2,264 shares during the last quarter. Finally, First Affirmative Financial Network bought a new stake in shares of Rocket Companies during the third quarter worth $93,000. 4.59% of the stock is owned by hedge funds and other institutional investors.

Rocket Companies Trading Up 5.6 %

Rocket Companies stock opened at $12.64 on Wednesday. The firm has a 50 day moving average of $12.55 and a 200 day moving average of $11.35. The firm has a market capitalization of $25.09 billion, a price-to-earnings ratio of -78.97, a P/E/G ratio of 9.73 and a beta of 2.41. Rocket Companies has a 12-month low of $7.17 and a 12-month high of $15.19. The company has a current ratio of 9.78, a quick ratio of 9.78 and a debt-to-equity ratio of 0.92.

Rocket Companies (NYSE:RKT) last released its earnings results on Thursday, February 22nd. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The firm had revenue of $885.00 million during the quarter, compared to analysts’ expectations of $762.44 million. Rocket Companies had a negative return on equity of 3.63% and a negative net margin of 0.41%. The company’s revenue was up 29.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.12) earnings per share. As a group, research analysts predict that Rocket Companies will post 0.24 earnings per share for the current year.

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.