Rocket Companies, Inc. (NYSE:RKT – Get Free Report)’s share price reached a new 52-week high on Monday . The stock traded as high as $19.37 and last traded at $19.22, with a volume of 1349375 shares traded. The stock had previously closed at $18.83.
Analyst Ratings Changes
Several equities research analysts recently weighed in on RKT shares. Deutsche Bank Aktiengesellschaft raised their price target on shares of Rocket Companies from $11.00 to $15.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. Wells Fargo & Company lifted their price objective on Rocket Companies from $13.00 to $15.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Piper Sandler upped their target price on shares of Rocket Companies from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Tuesday, May 7th. Keefe, Bruyette & Woods upgraded shares of Rocket Companies from an “underperform” rating to a “market perform” rating in a research note on Monday, August 5th. Finally, Barclays boosted their price objective on shares of Rocket Companies from $9.00 to $10.00 and gave the company an “underweight” rating in a report on Tuesday, July 9th. Five research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $12.31.
Get Our Latest Stock Report on RKT
Rocket Companies Trading Up 3.1 %
Rocket Companies (NYSE:RKT – Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. Rocket Companies had a return on equity of 0.90% and a net margin of 0.29%. The company had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period last year, the company earned ($0.05) earnings per share. Rocket Companies’s revenue was up 5.3% on a year-over-year basis. As a group, equities research analysts predict that Rocket Companies, Inc. will post 0.22 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Rocket Companies
Several large investors have recently added to or reduced their stakes in RKT. Principal Securities Inc. purchased a new position in shares of Rocket Companies during the fourth quarter valued at $26,000. Vima LLC bought a new stake in shares of Rocket Companies in the 4th quarter valued at about $31,000. Tennessee Valley Asset Management Partners bought a new stake in shares of Rocket Companies in the 4th quarter valued at about $37,000. Quarry LP lifted its position in shares of Rocket Companies by 858.8% in the 2nd quarter. Quarry LP now owns 4,353 shares of the company’s stock worth $60,000 after purchasing an additional 3,899 shares during the period. Finally, Blue Trust Inc. bought a new position in shares of Rocket Companies during the second quarter valued at approximately $61,000. 4.59% of the stock is 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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