Rocket Companies (NYSE:RKT) Upgraded to Hold at Zacks Research

Rocket Companies (NYSE:RKT) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

Several other analysts also recently commented on RKT. Royal Bank Of Canada upped their price objective on Rocket Companies from $17.00 to $20.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 8th. Bank of America upgraded Rocket Companies from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $21.00 to $24.00 in a research report on Wednesday, September 10th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Rocket Companies in a research report on Monday. Barclays set a $19.00 target price on Rocket Companies and gave the stock a “cautious” rating in a research report on Monday, October 6th. Finally, The Goldman Sachs Group boosted their target price on Rocket Companies from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 2nd. Three analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $17.12.

Rocket Companies Stock Down 1.0%

RKT opened at $16.76 on Tuesday. The business has a 50 day moving average price of $18.72 and a two-hundred day moving average price of $15.29. The company has a quick ratio of 18.74, a current ratio of 18.74 and a debt-to-equity ratio of 2.36. The company has a market cap of $35.27 billion, a PE ratio of -335.16 and a beta of 2.23. Rocket Companies has a 52 week low of $10.06 and a 52 week high of $22.56.

Rocket Companies (NYSE:RKT) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.03 by $0.01. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.28 billion. Rocket Companies had a positive return on equity of 3.18% and a negative net margin of 0.01%.The firm’s revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.06 EPS. Rocket Companies has set its Q3 2025 guidance at EPS. As a group, research analysts anticipate that Rocket Companies will post 0.15 EPS for the current year.

Institutional Investors Weigh In On Rocket Companies

Institutional investors and hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp grew its holdings in shares of Rocket Companies by 148.3% in the 1st quarter. Bank of New York Mellon Corp now owns 1,163,399 shares of the company’s stock worth $14,042,000 after acquiring an additional 694,779 shares during the period. Lincoln Capital Corp grew its holdings in shares of Rocket Companies by 304.1% in the 2nd quarter. Lincoln Capital Corp now owns 270,614 shares of the company’s stock worth $3,837,000 after acquiring an additional 203,639 shares during the period. Woodline Partners LP acquired a new stake in shares of Rocket Companies in the 1st quarter worth approximately $5,381,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Rocket Companies by 8.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,266,399 shares of the company’s stock worth $15,285,000 after acquiring an additional 103,156 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Rocket Companies in the 2nd quarter worth approximately $44,102,000. 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.