A number of other research analysts have also weighed in on RKT. Royal Bank of Canada dropped their price objective on shares of Rocket Companies from $18.00 to $9.00 in a research note on Thursday, May 12th. The Goldman Sachs Group decreased their price objective on shares of Rocket Companies from $14.00 to $11.50 and set a “neutral” rating for the company in a report on Monday, April 4th. Wedbush cut their price objective on shares of Rocket Companies to $7.00 and set a “na” rating for the company in a research report on Tuesday, May 17th. Morgan Stanley cut their price objective on shares of Rocket Companies from $12.00 to $11.00 and set an “equal weight” rating for the company in a research report on Thursday, April 7th. Finally, Credit Suisse Group dropped their target price on shares of Rocket Companies to $9.00 and set a “neutral” rating for the company in a research report on Thursday, May 19th. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $11.08.
Shares of RKT opened at $8.05 on Wednesday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 13.54 and a current ratio of 13.54. The firm has a market cap of $15.86 billion, a P/E ratio of 4.85, a price-to-earnings-growth ratio of 2.88 and a beta of 1.41. Rocket Companies has a 52 week low of $6.27 and a 52 week high of $19.59. The firm’s 50-day simple moving average is $8.18 and its 200 day simple moving average is $10.74.
Rocket Companies (NYSE:RKT – Get Rating) last released its quarterly earnings data on Tuesday, May 10th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.04). Rocket Companies had a return on equity of 31.45% and a net margin of 2.16%. The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the previous year, the company earned $0.55 earnings per share. Rocket Companies’ revenue for the quarter was down 52.2% compared to the same quarter last year. As a group, equities analysts forecast that Rocket Companies will post 0.26 earnings per share for the current year.
In other Rocket Companies news, CEO Jay Farner bought 20,300 shares of Rocket Companies stock in a transaction dated Monday, April 11th. The shares were purchased at an average cost of $9.82 per share, with a total value of $199,346.00. Following the transaction, the chief executive officer now directly owns 1,640,507 shares of the company’s stock, valued at $16,109,778.74. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders have acquired 766,000 shares of company stock worth $6,365,992. Insiders own 94.01% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in RKT. Sage Private Wealth Group LLC lifted its position in shares of Rocket Companies by 20.7% during the fourth quarter. Sage Private Wealth Group LLC now owns 7,055 shares of the company’s stock worth $98,000 after purchasing an additional 1,211 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in shares of Rocket Companies by 7.6% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 17,689 shares of the company’s stock worth $197,000 after purchasing an additional 1,250 shares during the period. Bank of Nova Scotia lifted its holdings in shares of Rocket Companies by 3.3% during the first quarter. Bank of Nova Scotia now owns 61,090 shares of the company’s stock worth $679,000 after purchasing an additional 1,953 shares during the period. Teacher Retirement System of Texas lifted its holdings in shares of Rocket Companies by 8.2% during the first quarter. Teacher Retirement System of Texas now owns 28,571 shares of the company’s stock worth $318,000 after purchasing an additional 2,158 shares during the period. Finally, Rockefeller Capital Management LP lifted its holdings in Rocket Companies by 173.2% in the fourth quarter. Rockefeller Capital Management LP now owns 3,500 shares of the company’s stock valued at $49,000 after acquiring an additional 2,219 shares during the period. 3.71% of the stock is owned by institutional investors.
About Rocket Companies (Get Rating)
Rocket Companies, Inc engages in the tech-driven real estate, mortgage, and e-Commerce businesses 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; Rocket Auto, an automotive retail marketplace that provides centralized and virtual car sales support to online car purchasing platforms; and Rocket Loans, an online-based personal loan business.
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