UBS Group Cuts Rocket Companies (NYSE:RKT) Price Target to $12.50

Rocket Companies (NYSE:RKT) had its price objective decreased by UBS Group from $14.00 to $12.50 in a research report report published on Thursday morning,Benzinga reports. UBS Group currently has a sell rating on the stock.

A number of other research firms have also weighed in on RKT. Bank of America raised their target price on shares of Rocket Companies from $12.00 to $14.00 and gave the stock an “underperform” rating in a research note on Thursday, August 29th. Royal Bank of Canada reduced their price target on shares of Rocket Companies from $20.00 to $18.00 and set a “sector perform” rating on the stock in a research report on Wednesday, November 13th. JPMorgan Chase & Co. lifted their price target on shares of Rocket Companies from $15.00 to $19.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Keefe, Bruyette & Woods reduced their price target on shares of Rocket Companies from $20.00 to $16.00 and set a “market perform” rating on the stock in a research report on Thursday. Finally, Piper Sandler reduced their price target on shares of Rocket Companies from $17.00 to $16.00 and set a “neutral” rating on the stock in a research report on Thursday. Five equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $15.13.

Rocket Companies Trading Down 0.4 %

RKT opened at $13.60 on Thursday. The company has a debt-to-equity ratio of 1.51, a current ratio of 15.47 and a quick ratio of 13.18. The company’s 50 day simple moving average is $17.54 and its two-hundred day simple moving average is $16.31. Rocket Companies has a 1-year low of $8.81 and a 1-year high of $21.38. The firm has a market capitalization of $27.06 billion, a price-to-earnings ratio of -85.00 and a beta of 2.46.

Rocket Companies (NYSE:RKT) last released its earnings results on Tuesday, November 12th. The company reported $0.08 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.08. Rocket Companies had a negative net margin of 0.38% and a positive return on equity of 2.86%. The business had revenue of $647.00 million for the quarter, compared to analyst estimates of $1.25 billion. During the same period last year, the company posted ($0.01) EPS. The business’s revenue was down 46.2% on a year-over-year basis. Analysts expect that Rocket Companies will post 0.22 EPS for the current fiscal year.

Institutional Trading of Rocket Companies

Several institutional investors have recently added to or reduced their stakes in the stock. Lakeshore Financial Planning Inc. increased its holdings in Rocket Companies by 8.0% in the 2nd quarter. Lakeshore Financial Planning Inc. now owns 13,496 shares of the company’s stock valued at $185,000 after purchasing an additional 1,000 shares during the last quarter. Wedmont Private Capital increased its holdings in Rocket Companies by 8.9% in the 3rd quarter. Wedmont Private Capital now owns 15,937 shares of the company’s stock valued at $279,000 after purchasing an additional 1,305 shares during the last quarter. Arizona State Retirement System increased its holdings in Rocket Companies by 6.0% in the 2nd quarter. Arizona State Retirement System now owns 34,974 shares of the company’s stock valued at $479,000 after purchasing an additional 1,979 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Rocket Companies in the third quarter worth $39,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Rocket Companies by 7.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,217 shares of the company’s stock worth $428,000 after acquiring an additional 2,064 shares in the last quarter. 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.