Rocket Companies, Inc. (NYSE:RKT) Receives Average Analyst Rating of “Hold”
Shares of Rocket Companies, Inc. (NYSE: RKT – Get a rating) received a consensus rating of “Hold” by the fourteen analysts who currently cover the stock, reports MarketBeat.com. Two research analysts rated the stock with a sell rating, eight gave the company a hold rating and three gave the company a buy rating. The year-over-year average price target among brokerages that have updated their coverage on the stock over the past year is $16.27.
A number of research companies have weighed in on RKT. Credit Suisse Group lowered its price target on Rocket Companies from $16.00 to $13.00 and set a “neutral” rating for the company in a Friday, February 25 research note. Citigroup cut its price target on Rocket Companies from $23.00 to $14.00 and set a “buy” rating for the company in a research note on Monday. Zacks Investment Research downgraded Rocket Companies from a “hold” rating to a “strong sell” rating in a research note on Wednesday. Piper Sandler reduced her target price on Rocket Companies from $19.00 to $18.00 in a Wednesday, January 5 research note. Finally, Morgan Stanley cut its price target on Rocket Companies from $19.00 to $15.00 and set an “equal weight” rating for the company in a Tuesday, Nov. 30 research note.
RKT-Action opened at $13.98 on Friday. The company has a quick ratio of 24.49, a current ratio of 24.49 and a debt ratio of 2.38. The company has a 50-day moving average price of $13.17 and a two-hundred-day moving average price of $15.30. The company has a market capitalization of $27.74 billion, a price/earnings ratio of 6.00, a P/E/G ratio of 0.80 and a beta of 1.53. Rocket Companies has a 12-month low of $10.55 and a 12-month high of $30.94.
Rocket Companies (NYSE: RKT – Get a rating) last released its quarterly results on Thursday, February 24. The company reported earnings per share of $0.32 for the quarter, missing the Zacks consensus estimate of $0.37 per ($0.05). The company posted revenue of $2.59 billion in the quarter, versus a consensus estimate of $2.62 billion. Rocket Companies had a net margin of 2.38% and a return on equity of 50.47%. The company’s revenue for the quarter decreased 44.6% compared to the same quarter last year. In the same quarter a year earlier, the company had earned earnings per share of $1.12. On average, equity research analysts expect Rocket Companies to post 1.45 EPS for the current fiscal year.
The company also recently declared a dividend, which will be paid on Tuesday, March 22. Investors of record on Tuesday, March 8 will receive a dividend of $1.01 per share. The ex-dividend date is Monday, March 7.
A number of large investors have recently increased or reduced their stake in RKT. Invesco Ltd. increased its holdings in Rocket Companies by 39.5% during Q3. Invesco Ltd. now owns 9,363,907 shares of the company worth $150,198,000 after purchasing an additional 2,653,662 shares in the last quarter. BlackRock Inc. increased its holdings in Rocket Companies by 17.9% during the 4th quarter. BlackRock Inc. now owns 6,505,694 shares of the company worth $91,081,000 after purchasing an additional 988,019 shares in the last quarter. Bruni JV & Co. Co. acquired a new stake in Rocket Companies during Q4 for a value of approximately $11,947,000. State Street Corp increased its holdings in Rocket Companies by 16.4% during the 2nd quarter. State Street Corp now owns 4,547,164 shares of the company worth $87,988,000 after purchasing an additional 641,331 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in Rocket Companies by 2,022.4% during the 4th quarter. Renaissance Technologies LLC now owns 492,400 shares of the company worth $6,894,000 after purchasing an additional 469,200 shares in the last quarter. 3.74% of the shares are held by institutional investors and hedge funds.
Company Profile Rocket Companies (Get a rating)
Rocket Companies, Inc is engaged in the technology-driven real estate, mortgage, and e-commerce industries in the United States and Canada. It operates in two segments, Direct to Consumer and Partner Network. The Company’s solutions include Rocket Mortgage, a mortgage lender; Amrock which provides title insurance, real estate appraisal and settlement services; Rocket Homes, a home search platform and realtor referral network, which offers technology services to support the home buying and selling experience; Rocket Auto, an automotive retail marketplace that provides centralized, virtual car sales support to nationwide online car rental and car buying platforms; and Rocket Loans, an online personal loan company.
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