Wedbush Reaffirms Outperform Rating for Rocket Companies (NYSE:RKT)

Rocket Companies (NYSE:RKT)‘s stock had its “outperform” rating restated by investment analysts at Wedbush in a research report issued on Wednesday, MarketBeat reports. They currently have a $13.00 price objective on the stock. Wedbush’s target price would suggest a potential upside of 7.62% from the company’s current price. Wedbush also issued estimates for Rocket Companies’ Q2 2025 earnings at $0.07 EPS, Q3 2025 earnings at $0.11 EPS and Q4 2025 earnings at $0.12 EPS.

Several other research analysts have also issued reports on RKT. JPMorgan Chase & Co. lowered their price target on shares of Rocket Companies from $14.00 to $10.50 and set an “underweight” rating for the company in a report on Tuesday, January 14th. UBS Group dropped their target price on shares of Rocket Companies from $14.00 to $13.00 and set a “neutral” rating on the stock in a report on Wednesday. Deutsche Bank Aktiengesellschaft upgraded Rocket Companies from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods upped their target price on Rocket Companies from $14.00 to $15.00 and gave the company a “market perform” rating in a research report on Tuesday, April 8th. Finally, Barclays upgraded Rocket Companies from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $10.00 to $14.00 in a report on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $14.38.

Rocket Companies Trading Down 1.4 %

NYSE RKT opened at $12.08 on Wednesday. The firm has a market capitalization of $24.11 billion, a PE ratio of -75.49 and a beta of 2.35. The business’s 50-day moving average price is $13.50 and its two-hundred day moving average price is $13.76. The company has a current ratio of 15.47, a quick ratio of 15.47 and a debt-to-equity ratio of 1.51. Rocket Companies has a 12 month low of $10.06 and a 12 month high of $21.38.

Institutional Trading of Rocket Companies

Several institutional investors and hedge funds have recently modified their holdings of RKT. Wellington Management Group LLP boosted its position in shares of Rocket Companies by 174.5% during the fourth quarter. Wellington Management Group LLP now owns 4,705,177 shares of the company’s stock valued at $52,980,000 after buying an additional 2,990,837 shares during the last quarter. Boston Partners lifted its stake in Rocket Companies by 29.8% during the 4th quarter. Boston Partners now owns 12,313,780 shares of the company’s stock valued at $138,673,000 after acquiring an additional 2,829,292 shares in the last quarter. Nuveen Asset Management LLC boosted its holdings in Rocket Companies by 52.7% during the 4th quarter. Nuveen Asset Management LLC now owns 8,122,148 shares of the company’s stock worth $91,455,000 after acquiring an additional 2,804,090 shares during the last quarter. State Street Corp grew its stake in shares of Rocket Companies by 44.7% in the 3rd quarter. State Street Corp now owns 4,108,189 shares of the company’s stock worth $78,836,000 after acquiring an additional 1,269,795 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Rocket Companies in the fourth quarter valued at about $14,113,000. 4.59% of the stock is owned by hedge funds and other 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.