Rocket Companies, Inc. (NYSE:RKT) Given Consensus Rating of “Hold” by Brokerages

Shares of Rocket Companies, Inc. (NYSE:RKT) have earned a consensus rating of “Hold” from the seventeen ratings firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $20.80.

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. initiated coverage on shares of Rocket Companies in a report on Monday, January 12th. They set a “neutral” rating and a $24.00 price target on the stock. Compass Point assumed coverage on shares of Rocket Companies in a research report on Tuesday, March 10th. They set a “buy” rating and a $21.00 target price on the stock. Keefe, Bruyette & Woods upgraded Rocket Companies from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $20.00 to $22.00 in a research note on Monday, March 16th. Jefferies Financial Group initiated coverage on Rocket Companies in a report on Friday, December 19th. They issued a “buy” rating and a $25.00 target price for the company. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Rocket Companies in a research report on Monday, December 29th.

Rocket Companies Price Performance

RKT opened at $13.64 on Wednesday. The company has a debt-to-equity ratio of 1.07, a current ratio of 70.90 and a quick ratio of 70.90. The company has a market capitalization of $38.45 billion, a price-to-earnings ratio of -104.88 and a beta of 2.30. The firm’s fifty day moving average price is $18.50 and its two-hundred day moving average price is $18.61. Rocket Companies has a 1 year low of $10.94 and a 1 year high of $24.36.

Rocket Companies (NYSE:RKT) last announced its earnings results on Thursday, February 26th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.09 by $0.02. Rocket Companies had a negative net margin of 1.02% and a positive return on equity of 3.04%. The company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the prior year, the company posted $0.04 earnings per share. The firm’s revenue for the quarter was up 52.2% on a year-over-year basis. As a group, analysts anticipate that Rocket Companies will post 0.15 earnings per share for the current fiscal year.

Insider Transactions at Rocket Companies

In other news, Director Matthew Rizik sold 2,500 shares of the firm’s stock in a transaction on Monday, January 12th. The stock was sold at an average price of $22.99, for a total transaction of $57,475.00. Following the completion of the sale, the director directly owned 1,038,536 shares of the company’s stock, valued at $23,875,942.64. This trade represents a 0.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In the last ninety days, insiders sold 15,000 shares of company stock valued at $312,750. 92.64% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Rocket Companies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Brooktree Capital Management lifted its position in shares of Rocket Companies by 27.5% during the 3rd quarter. Brooktree Capital Management now owns 148,653 shares of the company’s stock valued at $2,881,000 after buying an additional 32,088 shares during the last quarter. Cibc World Market Inc. bought a new position in shares of Rocket Companies during the 3rd quarter worth $2,689,000. Udine Wealth Management Inc. increased its holdings in Rocket Companies by 86.1% in the 3rd quarter. Udine Wealth Management Inc. now owns 168,070 shares of the company’s stock worth $3,257,000 after acquiring an additional 77,736 shares during the last quarter. Clifford Capital Partners LLC bought a new stake in Rocket Companies in the 2nd quarter valued at about $11,487,000. Finally, Thames Capital Management LLC raised its stake in Rocket Companies by 54.3% in the 3rd quarter. Thames Capital Management LLC now owns 1,106,003 shares of the company’s stock valued at $21,434,000 after acquiring an additional 389,101 shares during the period. 4.59% of the stock is owned by hedge funds and other institutional investors.

Rocket Companies Company Profile

Rocket Companies, Inc is a Detroit-based holding company whose businesses are centered on digital mortgage origination and related consumer finance and real estate services. The company grew out of the Quicken Loans franchise and completed an initial public offering in 2020. Founder Dan Gilbert remains a prominent figure associated with the firm, which operates a suite of brands that aim to simplify the home financing and buying experience through technology and scale.

The company’s core activity is mortgage lending through its Rocket Mortgage platform, which offers online application, underwriting and servicing for home purchase and refinance loans.