Equitable Trust Co. Invests $247,000 in Rocket Companies, Inc. $RKT

Key Points

• Equitable Trust Co. has invested approximately $247,000 in Rocket Companies, acquiring 17,431 shares, during the second quarter, as reported in their Form 13F filing.
• Rocket Companies reported Q2 earnings of $0.04 per share, beating analysts' estimates, with quarterly revenue of $1.36 billion—a 4.5% increase from the previous year.
• Several analyst firms have set price targets for Rocket Companies, with BTIG Research offering a target of $25.00 and Morgan Stanley raising its target from $16.00 to $18.00.

Equitable Trust Co. bought a new position in Rocket Companies, Inc. (NYSE:RKT - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 17,431 shares of the company's stock, valued at approximately $247,000.

Several other hedge funds have also recently modified their holdings of the stock. Boston Partners lifted its holdings in shares of Rocket Companies by 11.3% in the first quarter. Boston Partners now owns 13,704,339 shares of the company's stock worth $165,421,000 after buying an additional 1,390,559 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Rocket Companies by 2.2% in the first quarter. Vanguard Group Inc. now owns 12,793,549 shares of the company's stock worth $154,418,000 after buying an additional 273,475 shares in the last quarter. Nuveen LLC purchased a new position in shares of Rocket Companies in the first quarter worth $96,470,000. Wellington Management Group LLP raised its stake in Rocket Companies by 1.5% during the first quarter. Wellington Management Group LLP now owns 4,774,324 shares of the company's stock valued at $57,626,000 after purchasing an additional 69,147 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Rocket Companies during the second quarter valued at $44,102,000. Hedge funds and other institutional investors own 4.59% of the company's stock.

Rocket Companies Trading Down 1.0%

RKT stock opened at $16.76 on Thursday. The company has a quick ratio of 18.74, a current ratio of 18.74 and a debt-to-equity ratio of 2.36. Rocket Companies, Inc. has a twelve month low of $10.06 and a twelve month high of $22.56. The stock has a market capitalization of $35.27 billion, a price-to-earnings ratio of -335.16 and a beta of 2.23. The firm's fifty day simple moving average is $18.72 and its two-hundred day simple moving average is $15.29.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. BTIG Research reaffirmed a "buy" rating and set a $25.00 price target on shares of Rocket Companies in a research note on Friday, October 10th. Morgan Stanley upped their price target on shares of Rocket Companies from $16.00 to $18.00 and gave the company an "equal weight" rating in a research note on Monday, September 29th. Zacks Research downgraded shares of Rocket Companies from a "hold" rating to a "strong sell" rating in a research note on Monday, September 29th. Royal Bank Of Canada upped their price target on shares of Rocket Companies from $17.00 to $20.00 and gave the company a "sector perform" rating in a research note on Wednesday, October 8th. Finally, Barclays set a $19.00 price target on shares of Rocket Companies and gave the company a "cautious" rating in a research note on Monday, October 6th. Three analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and four have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Reduce" and an average price target of $17.12.

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.

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