Investment Analysts’ Recent Ratings Changes for Rocket Companies (RKT)

Rocket Companies (NYSE: RKT) has recently received a number of price target changes and ratings updates:

• 11/14/2024 – Rocket Companies had its price target raised by analysts at Bank of America Co. from $14.00 to $15.00. They now have an “underperform” rating on the stock.
• 11/14/2024 – Rocket Companies had its price target lowered by analysts at UBS Group AG from $14.00 to $12.50. They now have a “sell” rating on the stock.
• 11/14/2024 – Rocket Companies had its price target lowered by analysts at Piper Sandler from $17.00 to $16.00. They now have a “neutral” rating on the stock.
• 11/14/2024 – Rocket Companies had its price target lowered by analysts at Keefe, Bruyette & Woods from $20.00 to $16.00. They now have a “market perform” rating on the stock.
• 11/13/2024 – Rocket Companies had its price target lowered by analysts at Barclays PLC from $14.00 to $13.00. They now have an “underweight” rating on the stock.
• 11/13/2024 – Rocket Companies had its price target lowered by analysts at Royal Bank of Canada from $20.00 to $18.00. They now have a “sector perform” rating on the stock.
• 11/13/2024 – Rocket Companies had its “neutral” rating reaffirmed by analysts at Wedbush. They now have a $13.00 price target on the stock, down previously from $18.00.
• 11/5/2024 – Rocket Companies is now covered by analysts at Morgan Stanley. They set an “equal weight” rating and a $18.00 price target on the stock.
• 10/8/2024 – Rocket Companies had its price target raised by analysts at Barclays PLC from $10.00 to $14.00. They now have an “underweight” rating on the stock.
• 10/7/2024 – Rocket Companies had its price target raised by analysts at JPMorgan Chase & Co. from $15.00 to $19.00. They now have an “underweight” rating on the stock.

Rocket Companies Trading Up 2.0 %

RKT traded up $0.28 during trading on Thursday, reaching $14.34. The company had a trading volume of 2,553,074 shares, compared to its average volume of 2,912,460. The company has a quick ratio of 15.47, a current ratio of 15.47 and a debt-to-equity ratio of 1.51. Rocket Companies, Inc. has a 52 week low of $9.06 and a 52 week high of $21.38. The stock has a market cap of $28.60 billion, a P/E ratio of -89.63 and a beta of 2.46. The business has a 50 day simple moving average of $16.64 and a 200-day simple moving average of $16.31.

Rocket Companies (NYSE:RKT) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.08 EPS for the quarter, hitting analysts’ consensus estimates of $0.08. Rocket Companies had a negative net margin of 0.38% and a positive return on equity of 2.86%. The firm had revenue of $647.00 million during the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the previous year, the company earned ($0.01) EPS. The firm’s revenue for the quarter was down 46.2% compared to the same quarter last year. On average, equities analysts anticipate that Rocket Companies, Inc. will post 0.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Rocket Companies

Institutional investors and hedge funds have recently modified their holdings of the business. Lakeshore Financial Planning Inc. lifted its holdings in Rocket Companies by 8.0% during the 2nd quarter. Lakeshore Financial Planning Inc. now owns 13,496 shares of the company’s stock valued at $185,000 after buying an additional 1,000 shares in the last quarter. Wedmont Private Capital increased its position in shares of Rocket Companies by 8.9% during the third quarter. Wedmont Private Capital now owns 15,937 shares of the company’s stock worth $279,000 after acquiring an additional 1,305 shares during the period. Arizona State Retirement System raised its stake in shares of Rocket Companies by 6.0% during the second quarter. Arizona State Retirement System now owns 34,974 shares of the company’s stock valued at $479,000 after acquiring an additional 1,979 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Rocket Companies in the third quarter valued at approximately $39,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Rocket Companies by 7.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,217 shares of the company’s stock valued at $428,000 after purchasing an additional 2,064 shares during the period. 4.59% of the stock is owned by institutional investors.

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.