Rocket Companies (NYSE:RKT – Free Report) had its price target hoisted by JPMorgan Chase & Co. from $10.50 to $11.00 in a report issued on Friday morning, Benzinga reports. They currently have an underweight rating on the stock.
RKT has been the topic of several other reports. Wells Fargo & Company cut their target price on Rocket Companies from $14.00 to $13.00 and set an equal weight rating on the stock in a report on Friday, February 23rd. Citigroup upped their target price on Rocket Companies from $10.00 to $11.00 and gave the company a sell rating in a report on Wednesday, February 28th. UBS Group increased their target price on shares of Rocket Companies from $8.50 to $10.00 and gave the company a sell rating in a research report on Monday, February 26th. Deutsche Bank Aktiengesellschaft began coverage on shares of Rocket Companies in a research report on Wednesday, January 10th. They issued a hold rating and a $10.00 price target on the stock. Finally, Bank of America increased their price objective on shares of Rocket Companies from $7.00 to $8.00 and gave the stock an underperform rating in a research report on Monday, March 18th. Six equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to data from MarketBeat.com, Rocket Companies presently has an average rating of Hold and an average price target of $10.37.
View Our Latest Analysis on Rocket Companies
Rocket Companies Trading Up 4.5 %
Rocket Companies (NYSE:RKT – Get Free Report) last released its quarterly earnings results on Thursday, February 22nd. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The business had revenue of $885.00 million for the quarter, compared to the consensus estimate of $762.44 million. Rocket Companies had a net margin of 0.43% and a negative return on equity of 1.06%. Rocket Companies’s revenue was up 29.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.12) EPS. Equities analysts forecast that Rocket Companies will post 0.26 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Rocket Companies
Several institutional investors have recently made changes to their positions in RKT. Aigen Investment Management LP acquired a new stake in shares of Rocket Companies in the 3rd quarter valued at about $786,000. QRG Capital Management Inc. acquired a new stake in Rocket Companies in the third quarter valued at approximately $5,195,000. Bank of New York Mellon Corp increased its holdings in shares of Rocket Companies by 20.3% during the third quarter. Bank of New York Mellon Corp now owns 430,251 shares of the company’s stock valued at $3,519,000 after acquiring an additional 72,465 shares in the last quarter. Strs Ohio bought a new stake in shares of Rocket Companies during the third quarter valued at approximately $925,000. Finally, Boston Partners acquired a new position in shares of Rocket Companies during the third quarter worth approximately $47,544,000. Institutional investors and hedge funds own 4.59% of the company’s stock.
Rocket Companies Company Profile
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.
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