Rocket Companies, Inc. (NYSE:RKT – Get Free Report) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $19.37 and last traded at $19.22, with a volume of 1349375 shares trading hands. The stock had previously closed at $18.83.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on RKT. JPMorgan Chase & Co. lifted their price objective on Rocket Companies from $13.50 to $15.00 and gave the stock an “underweight” rating in a report on Friday, August 2nd. Royal Bank of Canada upped their price target on shares of Rocket Companies from $14.00 to $16.00 and gave the company a “sector perform” rating in a report on Friday, August 2nd. Keefe, Bruyette & Woods raised shares of Rocket Companies from an “underperform” rating to a “market perform” rating in a report on Monday, August 5th. Piper Sandler increased their target price on shares of Rocket Companies from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Tuesday, May 7th. Finally, Wedbush boosted their price target on Rocket Companies from $13.00 to $15.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Five equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $12.31.
Rocket Companies Price Performance
The stock has a market cap of $38.16 billion, a P/E ratio of 174.45 and a beta of 2.43. The company has a debt-to-equity ratio of 1.27, a quick ratio of 13.18 and a current ratio of 13.18. The firm has a 50-day moving average price of $15.37 and a 200-day moving average price of $13.78.
Rocket Companies (NYSE:RKT – Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.05 by $0.01. The business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.22 billion. Rocket Companies had a return on equity of 0.90% and a net margin of 0.29%. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.05) earnings per share. On average, analysts forecast that Rocket Companies, Inc. will post 0.22 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Rocket Companies
Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Rocket Companies by 10.4% in the 4th quarter. Vanguard Group Inc. now owns 11,702,838 shares of the company’s stock worth $169,457,000 after acquiring an additional 1,101,325 shares during the last quarter. Boston Partners lifted its holdings in shares of Rocket Companies by 4.2% during the first quarter. Boston Partners now owns 9,382,173 shares of the company’s stock valued at $136,462,000 after purchasing an additional 381,841 shares in the last quarter. Capital World Investors boosted its position in shares of Rocket Companies by 0.3% during the fourth quarter. Capital World Investors now owns 3,642,099 shares of the company’s stock valued at $52,738,000 after buying an additional 10,068 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Rocket Companies by 26.1% in the 2nd quarter. Renaissance Technologies LLC now owns 2,468,700 shares of the company’s stock worth $33,821,000 after buying an additional 510,400 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in Rocket Companies in the 2nd quarter worth about $10,811,000. 4.59% of the stock is owned by institutional investors.
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.