Rocket Companies, Inc. (NYSE:RKT) Stock Has Average Price Target of $19.57

Shares of Rocket Companies, Inc. (NYSE:RKT) have been given an average rating of “Moderate Buy” by the eighteen research firms that are currently covering the firm, MarketBeat.com reports. Nine analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $19.29.

Several research analysts recently weighed in on RKT shares. Stephens reduced their price target on Rocket Companies from $22.50 to $20.00 and set an “overweight” rating for the company in a research report on Friday, August 7th. Barclays dropped their price objective on shares of Rocket Companies from $17.00 to $15.00 and set an “overweight” rating on the stock in a research note on Monday. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $16.00 target price (up from $15.00) on shares of Rocket Companies in a report on Wednesday, August 12th. Benchmark decreased their target price on shares of Rocket Companies from $21.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, August 7th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Rocket Companies from $15.50 to $14.00 and set a “neutral” rating for the company in a research note on Friday, August 7th.

Rocket Companies Price Performance

NYSE:RKT opened at $11.57 on Friday. The firm’s fifty day moving average is $13.32 and its two-hundred day moving average is $14.00. The firm has a market cap of $32.77 billion, a price-to-earnings ratio of 82.67, a PEG ratio of 3.21 and a beta of 2.23. The company has a debt-to-equity ratio of 1.16, a quick ratio of 4.85 and a current ratio of 4.85. Rocket Companies has a one year low of $11.25 and a one year high of $24.36.

Rocket Companies (NYSE:RKT) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.16 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.16. Rocket Companies had a return on equity of 5.13% and a net margin of 4.70%.The business had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.81 billion. During the same quarter last year, the business posted $0.04 EPS. The company’s revenue was up 91.9% on a year-over-year basis. Research analysts expect that Rocket Companies will post 0.52 EPS for the current year.

Insiders Place Their Bets

In other Rocket Companies news, Rocket Mortgage CEO Jesse Bray sold 225,000 shares of Rocket Companies stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $13.11, for a total value of $2,949,750.00. Following the completion of the transaction, the insider owned 7,953,027 shares of the company’s stock, valued at approximately $104,264,183.97. The trade was a 2.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 450,000 shares of company stock valued at $5,687,074 over the last three months. 57.68% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Rocket Companies

Institutional investors have recently modified their holdings of the business. Manchester Capital Management LLC grew its stake in Rocket Companies by 0.5% during the 4th quarter. Manchester Capital Management LLC now owns 116,466 shares of the company’s stock valued at $2,255,000 after acquiring an additional 618 shares in the last quarter. Red Door Wealth Management LLC boosted its holdings in shares of Rocket Companies by 6.7% during the 1st quarter. Red Door Wealth Management LLC now owns 11,138 shares of the company’s stock worth $159,000 after purchasing an additional 698 shares during the last quarter. Gould Capital LLC grew its position in shares of Rocket Companies by 0.8% in the fourth quarter. Gould Capital LLC now owns 95,166 shares of the company’s stock valued at $1,842,000 after purchasing an additional 733 shares in the last quarter. Valeo Financial Advisors LLC increased its holdings in shares of Rocket Companies by 4.2% in the second quarter. Valeo Financial Advisors LLC now owns 20,473 shares of the company’s stock valued at $322,000 after purchasing an additional 823 shares during the last quarter. Finally, NewEdge Wealth LLC lifted its position in Rocket Companies by 9.5% during the first quarter. NewEdge Wealth LLC now owns 14,457 shares of the company’s stock worth $206,000 after buying an additional 1,253 shares in the last quarter. 4.59% of the stock is currently owned by institutional investors and hedge funds.

Rocket Companies Company Profile

Rocket Companies, Inc is a Detroit-based fintech platform that provides digital financial and real estate services primarily to consumers in the United States. Its operations are centered on helping customers obtain, manage and refinance home loans, while also offering related services across the homeownership and personal finance lifecycle.

The company’s principal businesses include Rocket Mortgage, a digital mortgage lender and originator; Rocket Homes, a real estate marketplace and agent-referral platform; Rocket Money, a personal finance application that helps users manage subscriptions, budgets and bills; and Rocket Loans, which provides personal loans.