Rocket Companies (NYSE:RKT) Given New $14.00 Price Target at Royal Bank of Canada

Rocket Companies (NYSE:RKT) had its price objective boosted by Royal Bank of Canada from $12.00 to $14.00 in a research note published on Friday morning, Benzinga reports. They currently have a sector perform rating on the stock.

Several other research firms also recently issued reports on RKT. Wells Fargo & Company dropped their price target on shares of Rocket Companies from $14.00 to $13.00 and set an equal weight rating on the stock in a research note on Friday, February 23rd. Bank of America raised their price objective on Rocket Companies from $7.00 to $8.00 and gave the company an underperform rating in a research note on Monday, March 18th. UBS Group increased their target price on Rocket Companies from $8.50 to $10.00 and gave the company a sell rating in a research note on Monday, February 26th. JPMorgan Chase & Co. restated an underweight rating and issued a $10.50 price target (up previously from $8.50) on shares of Rocket Companies in a research note on Thursday, January 4th. Finally, Citigroup lifted their target price on Rocket Companies from $10.00 to $11.00 and gave the stock a sell rating in a research report on Wednesday, February 28th. Six research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $10.37.

Rocket Companies Trading Up 4.5 %

Rocket Companies stock traded up $0.57 during trading on Friday, reaching $13.30. The company had a trading volume of 3,508,350 shares, compared to its average volume of 2,202,011. The stock’s 50 day moving average price is $12.75 and its two-hundred day moving average price is $11.55. Rocket Companies has a 12-month low of $7.17 and a 12-month high of $15.19. The company has a debt-to-equity ratio of 0.92, a quick ratio of 9.78 and a current ratio of 9.78. The firm has a market capitalization of $26.41 billion, a price-to-earnings ratio of 120.92, a PEG ratio of 9.92 and a beta of 2.43.

Rocket Companies (NYSE:RKT) last issued its earnings results on Thursday, February 22nd. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). Rocket Companies had a net margin of 0.43% and a negative return on equity of 1.06%. The business had revenue of $885.00 million during the quarter, compared to analysts’ expectations of $762.44 million. During the same period in the prior year, the business posted ($0.12) EPS. The business’s revenue was up 29.6% on a year-over-year basis. As a group, equities analysts expect that Rocket Companies will post 0.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rocket Companies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RKT. Boston Partners bought a new position in Rocket Companies during the third quarter valued at about $47,544,000. Vanguard Group Inc. boosted its stake in shares of Rocket Companies by 10.4% during the 4th quarter. Vanguard Group Inc. now owns 11,702,838 shares of the company’s stock worth $169,457,000 after acquiring an additional 1,101,325 shares in the last quarter. QRG Capital Management Inc. acquired a new position in shares of Rocket Companies in the 3rd quarter worth $5,195,000. Integrated Investment Consultants LLC lifted its holdings in shares of Rocket Companies by 1,069.0% during the fourth quarter. Integrated Investment Consultants LLC now owns 650,598 shares of the company’s stock valued at $9,421,000 after purchasing an additional 594,945 shares during the last quarter. Finally, Quantbot Technologies LP boosted its position in shares of Rocket Companies by 1,515.5% in the 3rd quarter. Quantbot Technologies LP now owns 170,504 shares of the company’s stock valued at $1,395,000 after purchasing an additional 159,950 shares during the period. 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.