Rocket Companies' (RKT) "Outperform" Rating Reiterated at Wedbush

Wedbush reiterated their outperform rating on shares of Rocket Companies (NYSE:RKT - Free Report) in a research report report published on Wednesday, MarketBeat Ratings reports. They currently have a $13.00 price objective on the stock. Wedbush also issued estimates for Rocket Companies' Q1 2025 earnings at $0.01 EPS, Q2 2025 earnings at $0.07 EPS, Q3 2025 earnings at $0.11 EPS, Q4 2025 earnings at $0.12 EPS, FY2025 earnings at $0.31 EPS and FY2026 earnings at $0.64 EPS.

RKT has been the subject of a number of other reports. Morgan Stanley lowered their price objective on Rocket Companies from $16.00 to $13.00 and set an "equal weight" rating for the company in a research report on Thursday, December 19th. Royal Bank of Canada reiterated a "sector perform" rating and set a $18.00 target price on shares of Rocket Companies in a report on Tuesday, April 1st. Keefe, Bruyette & Woods increased their target price on shares of Rocket Companies from $14.00 to $15.00 and gave the stock a "market perform" rating in a report on Tuesday, April 8th. The Goldman Sachs Group cut their price target on shares of Rocket Companies from $16.00 to $14.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft upgraded Rocket Companies from a "hold" rating to a "buy" rating and set a $16.00 price objective for the company in a report on Wednesday, April 2nd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $14.38.

Rocket Companies Price Performance

Shares of RKT traded down $0.48 during trading hours on Wednesday, hitting $11.56. The stock had a trading volume of 10,082,718 shares, compared to its average volume of 4,588,156. The stock has a market capitalization of $23.08 billion, a price-to-earnings ratio of -72.25 and a beta of 2.35. Rocket Companies has a 52 week low of $10.06 and a 52 week high of $21.38. The company has a debt-to-equity ratio of 1.51, a current ratio of 15.47 and a quick ratio of 15.47. The company's fifty day moving average is $13.48 and its two-hundred day moving average is $13.64.

Rocket Companies Cuts Dividend

The business also recently disclosed a dividend, which was paid on Thursday, April 3rd. Shareholders of record on Thursday, March 20th were paid a dividend of $0.80 per share. The ex-dividend date of this dividend was Thursday, March 20th. Rocket Companies's dividend payout ratio (DPR) is presently 801.25%.

Institutional Trading of Rocket Companies

Large investors have recently made changes to their positions in the company. Parallel Advisors LLC lifted its stake in shares of Rocket Companies by 302.2% in the 1st quarter. Parallel Advisors LLC now owns 2,956 shares of the company's stock valued at $36,000 after acquiring an additional 2,221 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new stake in Rocket Companies in the fourth quarter valued at approximately $47,000. GAMMA Investing LLC increased its position in shares of Rocket Companies by 82.4% during the first quarter. GAMMA Investing LLC now owns 3,905 shares of the company's stock worth $47,000 after acquiring an additional 1,764 shares in the last quarter. KBC Group NV raised its position in Rocket Companies by 58.1% in the 4th quarter. KBC Group NV now owns 6,056 shares of the company's stock valued at $68,000 after buying an additional 2,226 shares during the last quarter. Finally, Sterling Capital Management LLC raised its holdings in shares of Rocket Companies by 57.2% in the fourth quarter. Sterling Capital Management LLC now owns 8,295 shares of the company's stock valued at $93,000 after purchasing an additional 3,019 shares during the last quarter. 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.