Rocket Companies (NYSE:RKT) Price Target Raised to $14.00 at Barclays

Rocket Companies (NYSE:RKT) had its price target increased by investment analysts at Barclays from $10.00 to $14.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has an “underweight” rating on the stock. Barclays‘s target price indicates a potential downside of 18.98% from the company’s previous close.

A number of other equities research analysts also recently weighed in on RKT. UBS Group upped their price target on shares of Rocket Companies from $11.50 to $14.00 and gave the company a “sell” rating in a report on Monday, September 16th. Keefe, Bruyette & Woods raised shares of Rocket Companies from an “underperform” rating to a “market perform” rating in a research note on Monday, August 5th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Rocket Companies from $11.00 to $15.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. Wedbush increased their price objective on Rocket Companies from $15.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, September 11th. Finally, Bank of America lifted their target price on Rocket Companies from $12.00 to $14.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Five analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat, Rocket Companies presently has an average rating of “Hold” and a consensus target price of $14.89.

Rocket Companies Price Performance

NYSE RKT opened at $17.28 on Tuesday. The firm has a market capitalization of $34.38 billion, a PE ratio of 157.11 and a beta of 2.44. The company has a debt-to-equity ratio of 1.27, a current ratio of 13.18 and a quick ratio of 13.18. Rocket Companies has a 12 month low of $7.17 and a 12 month high of $21.38. The company’s 50 day simple moving average is $18.92 and its 200 day simple moving average is $15.61.

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 the consensus estimate of $0.05 by $0.01. The company had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Rocket Companies had a return on equity of 0.90% and a net margin of 0.29%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period last year, the firm earned ($0.05) EPS. As a group, equities research analysts forecast that Rocket Companies will post 0.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Rocket Companies

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Rocket Companies by 10.4% in the fourth quarter. Vanguard Group Inc. now owns 11,702,838 shares of the company’s stock worth $169,457,000 after purchasing an additional 1,101,325 shares in the last quarter. Boston Partners lifted its position in Rocket Companies by 4.2% in the 1st quarter. Boston Partners now owns 9,382,173 shares of the company’s stock worth $136,462,000 after buying an additional 381,841 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Rocket Companies by 26.1% during the 2nd quarter. Renaissance Technologies LLC now owns 2,468,700 shares of the company’s stock valued at $33,821,000 after buying an additional 510,400 shares during the period. Marshall Wace LLP purchased a new position in shares of Rocket Companies during the 2nd quarter valued at $10,811,000. Finally, Capital Fund Management S.A. increased its stake in shares of Rocket Companies by 27.8% in the fourth quarter. Capital Fund Management S.A. now owns 502,110 shares of the company’s stock worth $7,271,000 after acquiring an additional 109,278 shares during the last quarter. Hedge funds and other institutional investors own 4.59% of the company’s stock.

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.