Keefe, Bruyette & Woods upgraded shares of Rocket Companies (NYSE:RKT – Free Report) from an underperform rating to a market perform rating in a research note released on Monday, MarketBeat.com reports.
Several other brokerages have also recently issued reports on RKT. JPMorgan Chase & Co. increased their price objective on Rocket Companies from $13.50 to $15.00 and gave the stock an underweight rating in a research note on Friday. Barclays increased their price target on Rocket Companies from $9.00 to $10.00 and gave the stock an underweight rating in a research report on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft raised their price target on Rocket Companies from $11.00 to $15.00 and gave the company a hold rating in a research note on Friday. Royal Bank of Canada upped their price objective on shares of Rocket Companies from $14.00 to $16.00 and gave the stock a sector perform rating in a research note on Friday. Finally, Wells Fargo & Company upped their price target on shares of Rocket Companies from $13.00 to $15.00 and gave the stock an equal weight rating in a research report on Friday. Five research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $12.31.
Read Our Latest Research Report on RKT
Rocket Companies Trading Up 3.2 %
Rocket Companies (NYSE:RKT – Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. The firm had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Rocket Companies had a net margin of 0.29% and a return on equity of 0.91%. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.05) earnings per share. On average, research analysts anticipate that Rocket Companies will post 0.23 EPS for the current year.
Institutional Investors Weigh In On Rocket Companies
Several institutional investors have recently added to or reduced their stakes in RKT. Principal Securities Inc. acquired a new stake in shares of Rocket Companies during the fourth quarter worth $26,000. Vima LLC acquired a new stake in Rocket Companies during the 4th quarter worth about $31,000. Tennessee Valley Asset Management Partners purchased a new stake in Rocket Companies during the 4th quarter valued at about $37,000. Blue Trust Inc. purchased a new stake in Rocket Companies during the 2nd quarter valued at about $61,000. Finally, EntryPoint Capital LLC acquired a new position in shares of Rocket Companies in the first quarter valued at about $77,000. Institutional investors and hedge funds 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.
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