Rocket Companies (NYSE: RKT – Get Note) was upgraded by stock analysts Keefe, Bruyette & Woods from an “underperforming” rating to a “market performing” rating in a research note released to investors on Sunday, reports The Fly.
A number of other research analysts have also recently commented on the stock. Royal Bank of Canada lowered its price target on shares of Rocket Companies from $18.00 to $9.00 in a report released Thursday. Goldman Sachs Group lowered its price target on Rocket Companies shares from $14.00 to $11.50 and set a “neutral” rating for the company in a Monday, April 4 research note. Citigroup downgraded shares of Rocket Companies from a “buy” rating to a “neutral” rating and lowered its price target for the stock from $14.00 to $8.00 in a research note on Wednesday. Zacks Investment Research downgraded shares of Rocket Companies from a “held” rating to a “strong sell” rating in a Wednesday, March 2 research note. Finally, Credit Suisse Group lowered its price target on Rocket Companies shares from $16.00 to $13.00 and set a “neutral” rating for the company in a Friday, Feb. 25 research note. Two investment analysts have assigned the stock a sell rating, eleven have issued a hold rating and two have assigned the stock a buy rating. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $14.18.
Shares of NYSE:RKT rose $0.18 during Friday’s trading, hitting $8.11. The company’s shares had a trading volume of 5,714,300 shares, compared to its average volume of 5,269,973. The company has a current ratio of 13.54, a quick ratio of 21.68 and a leverage of 1.40. Rocket Companies has a 12-month low of $6.91 and a 12-month high of $22.68. The company’s 50-day simple moving average is $9.87 and its two-hundred-day simple moving average is $12.84. The stock has a market capitalization of $15.98 billion, a PE ratio of 4.89, a growth price-earnings ratio of 0.99 and a beta of 1.39.
Rocket Companies (NYSE:RKT – Get Rating) last reported quarterly results on Tuesday, May 10. The company reported EPS of $0.15 for the quarter, missing analyst consensus estimates of $0.19 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 a consensus estimate of $2.24 billion. During the same period a year earlier, the company posted EPS of $0.55. The company’s revenue was down 52.2% year over year. Research analysts expect Rocket Companies to post 0.8 EPS for the current fiscal year.
In other Rocket Companies news, CEO Jay Farner acquired 13,100 shares of Rocket Companies in a deal that took place on Friday, April 1. The stock was purchased at an average price of $11.04 per share, with a total value of $144,624.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this link. Insiders bought 385,900 shares of the company valued at $3,538,442 during the last quarter. 93.20% of the shares are held by insiders of the company.
A number of large investors have recently changed their stock holdings. Gainplan LLC increased its stake in Rocket Companies by 4.7% in the third quarter. Gainplan LLC now owns 16,174 shares of the company worth $251,000 after purchasing an additional 726 shares in the last quarter. Sage Private Wealth Group LLC increased its stake in Rocket Companies by 20.7% in the fourth quarter. Sage Private Wealth Group LLC now owns 7,055 shares of the company worth $98,000 after purchasing 1,211 additional shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in Rocket Companies by 7.6% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 17,689 shares of the company worth $197,000 after purchasing an additional 1,250 shares last quarter. The Toronto Dominion Bank increased its stake in Rocket Companies by 35.9% in the third quarter. The Toronto Dominion Bank now owns 6,390 shares of the company worth $102,000 after buying 1,687 more shares last quarter. 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 worth $58,000 after purchasing an additional 1,920 shares in the last quarter. 3.71% of the shares are held by 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.
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