Rocket Companies (NYSE:RKT) Shares Up 6.9% – Should You Buy?

Rocket Companies, Inc. (NYSE:RKT) shot up 6.9% on Monday . The company traded as high as $12.71 and last traded at $12.85. 733,520 shares traded hands during trading, a decline of 75% from the average session volume of 2,880,729 shares. The stock had previously closed at $12.02.

Analysts Set New Price Targets

A number of research firms have weighed in on RKT. Morgan Stanley decreased their price target on Rocket Companies from $16.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 19th. Barclays decreased their price target on Rocket Companies from $14.00 to $13.00 and set an “underweight” rating on the stock in a research note on Wednesday, November 13th. JPMorgan Chase & Co. cut their price objective on Rocket Companies from $14.00 to $10.50 and set an “underweight” rating on the stock in a report on Tuesday, January 14th. Bank of America boosted their price objective on Rocket Companies from $14.00 to $15.00 and gave the company an “underperform” rating in a report on Thursday, November 14th. Finally, Wedbush reiterated a “neutral” rating and issued a $13.00 price objective (down previously from $18.00) on shares of Rocket Companies in a report on Wednesday, November 13th. Five analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat, Rocket Companies currently has a consensus rating of “Hold” and an average price target of $13.50.

Rocket Companies Stock Up 6.0 %

The business has a 50-day simple moving average of $12.24 and a two-hundred day simple moving average of $15.69. The company has a debt-to-equity ratio of 1.51, a quick ratio of 15.47 and a current ratio of 15.47. The company has a market capitalization of $25.42 billion, a price-to-earnings ratio of -79.52 and a beta of 2.42.

Rocket Companies (NYSE:RKT) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.08 earnings per share for the quarter, meeting the consensus estimate of $0.08. Rocket Companies had a positive return on equity of 2.86% and a negative net margin of 0.38%. The firm had revenue of $647.00 million during the quarter, compared to the consensus estimate of $1.25 billion. During the same period last year, the business posted ($0.01) EPS. Rocket Companies’s quarterly revenue was down 46.2% on a year-over-year basis. As a group, equities analysts predict that Rocket Companies, Inc. will post 0.15 EPS for the current year.

Hedge Funds Weigh In On Rocket Companies

Several hedge funds have recently bought and sold shares of the stock. Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of Rocket Companies by 55.0% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 21,513 shares of the company’s stock worth $242,000 after purchasing an additional 7,635 shares during the last quarter. KBC Group NV boosted its holdings in shares of Rocket Companies by 58.1% during the fourth quarter. KBC Group NV now owns 6,056 shares of the company’s stock worth $68,000 after purchasing an additional 2,226 shares during the last quarter. Lincoln Capital Corp acquired a new stake in shares of Rocket Companies during the fourth quarter worth $1,831,000. Missouri Trust & Investment Co boosted its holdings in shares of Rocket Companies by 21.5% during the fourth quarter. Missouri Trust & Investment Co now owns 86,295 shares of the company’s stock worth $972,000 after purchasing an additional 15,260 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC boosted its holdings in shares of Rocket Companies by 75.1% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 28,508 shares of the company’s stock worth $321,000 after purchasing an additional 12,230 shares during the last quarter. Hedge funds and other institutional investors 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.