Rocket Companies (RKT) Receives a Hold from Barclays

Barclays analyst Mark Devries maintained a Hold rating on Rocket Companies (RKTResearch Report) on January 7 and set a price target of $19.00. The company’s shares closed last Tuesday at $14.17.

According to TipRanks.com, Devries is a 5-star analyst with an average return of 17.0% and a 64.7% success rate. Devries covers the Financial sector, focusing on stocks such as Discover Financial Services, Fidelity National Financial, and First American Financial.

Currently, the analyst consensus on Rocket Companies is a Hold with an average price target of $17.06, implying a 22.3% upside from current levels. In a report issued on January 3, Wedbush also upgraded the stock to Hold with a $14.00 price target.

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Based on Rocket Companies’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $3.08 billion and net profit of $75.34 million. In comparison, last year the company earned revenue of $4.58 billion and had a net profit of $57.9 million.

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Rocket Companies, Inc. is a personal finance company which helps its clients achieve the American dream of home ownership and financial freedom. Its flagship company, Rocket Mortgage, is the nation’s largest mortgage lender. The company’s other personal finance and consumer service brands include Rocket Homes, Rocket Loans, Rocket Auto, Amrock, Core Digital Media, Rock Connections, Rock Central, Lendesk and Edison Financial.

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