Rocket Companies, Inc. (NYSE: RKT) Receives Medium “Hold” Rating from Brokerages

Shares of Rocket Companies, Inc. (NYSE: RKT – Get a rating) received a consensus recommendation of “Hold” from the fourteen research firms that cover the company, Marketbeat reports. One research analyst rated the stock with a sell recommendation, nine issued a hold recommendation and one gave the company a buy recommendation. The 12-month average price target among brokerages that have covered the stock over the past year is $11.88.

RKT has been the subject of several analyst reports. Argus downgraded shares of Rocket Companies from a “buy” rating to a “hold” rating in a report on Tuesday, May 31. Bank of America downgraded shares of Rocket Companies from a “neutral” rating to an “underperforming” rating and lowered its price target for the company from $21.00 to $11.00 in a Tuesday report. February 22. Citigroup cut shares of Rocket Companies from a “buy” rating to a “neutral” rating and lowered its target price for the company from $14.00 to $8.00 in a Wednesday, May 11 research report. Morgan Stanley lowered its price target on shares of Rocket Companies from $12.00 to $11.00 and set an “equal weight” rating on the stock in a Thursday, April 7 research report. Finally, Barclays cut its price target on Rocket Companies shares from $14.00 to $13.00 and set an “equal weight” rating on the stock in a Tuesday, April 12 research report.

(A d)

Options can be safer and easier to trade than traditional stocks, but only with the right knowledge!

“Options Trading Made Easy” by expert Chuck Hughes will teach you everything you need to trade safely and earn more, and all for FREE!

RKT shares opened at $7.90 on Friday. The company has a current ratio of 13.54, a quick ratio of 13.54 and a debt ratio of 1.40. Rocket Companies has a 12-month low of $6.91 and a 12-month high of $21.36. The company has a 50-day moving average price of $9.01 and a 200-day moving average price of $11.77. The company has a market capitalization of $15.56 billion, a P/E ratio of 4.76, a P/E/G ratio of 3.05 and a beta of 1.38.

Rocket Companies (NYSE: RKT – Get a rating) last reported quarterly earnings data on Tuesday, May 10. The company reported earnings per share (EPS) of $0.12 for the quarter, missing analyst consensus estimates of $0.16 per ($0.04). Rocket Companies had a net margin of 2.16% and a return on equity of 31.45%. The company posted revenue of $1.93 billion in the quarter, versus $2.24 billion expected by analysts. During the same period of the previous year, the company posted EPS of $0.55. The company’s revenue for the quarter decreased 52.2% compared to the same quarter last year. Equity research analysts expect Rocket Companies to post 0.27 earnings per share for the current fiscal year.

In other Rocket Companies news, CEO Jay Farner purchased 13,100 shares of Rocket Companies in a trade dated Friday, April 1. The shares were acquired at an average price of $11.04 per share, with a total value of $144,624.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via this link. Insiders have purchased 567,600 shares of the company worth $5,136,572 over the past three months. Company insiders own 94.01% of the company’s shares.

A number of large investors have recently changed their RKT holdings. Moors & Cabot Inc. acquired a new stake in Rocket Companies in the third quarter valued at approximately $31,000. Rockefeller Capital Management LP increased its holdings in Rocket Companies by 173.2% in the fourth quarter. Rockefeller Capital Management LP now owns 3,500 shares of the company valued at $49,000 after acquiring 2,219 additional shares last quarter. US Bancorp DE increased its stake in Rocket Companies by 341.4% in the first quarter. US Bancorp DE now owns 4,414 shares of the company valued at $49,000 after buying 3,414 additional shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp bought a new position in Rocket Companies in the first quarter worth about $52,000. Finally, Patriot Financial Group Insurance Agency LLC increased its stake in Rocket Companies by 111.6% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 3,640 shares of the company valued at $58,000 after purchasing an additional 1,920 shares in the last quarter. 3.71% of the shares are currently held by hedge funds and other institutional investors.

Company Profile Rocket Companies (Get a rating)

Rocket Companies, Inc. operates in the technology-driven real estate, mortgage, and e-commerce industries 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 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-selling support to online car-buying platforms; and Rocket Loans, an online personal loan company.

Read more

Analyst Recommendations for Rocket Companies (NYSE: RKT)

This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]

Should you invest $1,000 in Rocket Companies right now?

Before you consider Rocket Companies, you’ll want to hear this.

MarketBeat tracks Wall Street’s top-rated, top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and Rocket Companies didn’t make the list.

While Rocket Companies currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the 5 actions here

About Adam Motte

Check Also

Luxury home sales fall 18%, the biggest drop since the start of the pandemic | national company

SEATTLE–(BUSINESS WIRE)–June 10, 2022– (NASDAQ: RDFN) – U.S. luxury home sales fell 17.8% year-over-year in …