BTIG Research Upgrades Rocket Companies (NYSE:RKT) to Strong-Buy

Key Points

• Rocket Companies has been upgraded to a “strong-buy” rating by analysts at BTIG Research, reflecting positive sentiment on the stock's future performance.
• Multiple analysts have set price targets ranging from $15.00 to $16.00, indicating differing levels of optimism about Rocket Companies' stock.
• The company's earnings report showed a revenue increase of 4.5% year-over-year, successfully surpassing analyst expectations for the quarter.

Rocket Companies (NYSE:RKT - Get Free Report) was upgraded by stock analysts at BTIG Research to a "strong-buy" rating in a research note issued on Tuesday,Zacks.com reports.

A number of other research analysts have also weighed in on RKT. Morgan Stanley assumed coverage on shares of Rocket Companies in a research note on Thursday, August 14th. They issued an "equal weight" rating and a $16.00 target price on the stock. Keefe, Bruyette & Woods raised their target price on shares of Rocket Companies from $14.00 to $15.00 and gave the stock a "market perform" rating in a research note on Tuesday, August 5th. The Goldman Sachs Group raised their target price on shares of Rocket Companies from $14.00 to $16.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. Jefferies Financial Group raised their target price on shares of Rocket Companies from $11.50 to $14.00 and gave the stock a "hold" rating in a research note on Tuesday, July 22nd. Finally, Wedbush restated a "neutral" rating and set a $12.00 price target (down previously from $13.00) on shares of Rocket Companies in a report on Friday, May 9th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $15.81.

Rocket Companies Price Performance

Rocket Companies stock traded up $1.6680 during midday trading on Tuesday, reaching $19.2480. The company had a trading volume of 30,186,176 shares, compared to its average volume of 20,172,010. The company has a market capitalization of $40.51 billion, a P/E ratio of -384.96 and a beta of 2.28. Rocket Companies has a 12-month low of $10.06 and a 12-month high of $21.38. The firm's fifty day simple moving average is $15.49 and its 200-day simple moving average is $13.92. The company has a debt-to-equity ratio of 2.36, a current ratio of 18.74 and a quick ratio of 18.74.

Rocket Companies (NYSE:RKT - Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period last year, the company posted $0.06 EPS. Rocket Companies's quarterly 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, equities analysts anticipate that Rocket Companies will post 0.15 EPS for the current year.

Institutional Investors Weigh In On Rocket Companies

Several institutional investors have recently modified their holdings of the company. Boston Partners lifted its position in shares of Rocket Companies by 6.2% during the 2nd quarter. Boston Partners now owns 14,560,706 shares of the company's stock worth $206,610,000 after purchasing an additional 856,367 shares during the last quarter. Vanguard Group Inc. lifted its position in Rocket Companies by 2.2% in the first quarter. Vanguard Group Inc. now owns 12,793,549 shares of the company's stock valued at $154,418,000 after acquiring an additional 273,475 shares during the last quarter. Nuveen Asset Management LLC lifted its position in Rocket Companies by 52.7% in the fourth quarter. Nuveen Asset Management LLC now owns 8,122,148 shares of the company's stock valued at $91,455,000 after acquiring an additional 2,804,090 shares during the last quarter. Nuveen LLC purchased a new stake in Rocket Companies in the first quarter valued at $96,470,000. Finally, Wellington Management Group LLP lifted its position in Rocket Companies by 1.5% in the first quarter. Wellington Management Group LLP now owns 4,774,324 shares of the company's stock valued at $57,626,000 after acquiring an additional 69,147 shares during the last quarter. 4.59% of the stock is owned by hedge funds and other institutional investors.

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.