Rocket Companies (NYSE:RKT) Upgraded to Hold at Wall Street Zen

Key Points

• Rocket Companies has been upgraded from a "sell" rating to a "hold" rating by Wall Street Zen, indicating a more favorable outlook for the stock.
• Recent research reports show varied price targets, with Keefe, Bruyette & Woods setting a target at $15.00 and Barclays at $19.00, reflecting differing analyst views on the company's potential.
• The company reported a revenue increase of 4.5% year-over-year, surpassing analysts' expectations, although it posted a slight decrease in earnings per share compared to the previous year.

Rocket Companies (NYSE:RKT - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Saturday.

A number of other equities research analysts have also commented on RKT. Keefe, Bruyette & Woods increased their price target on Rocket Companies from $14.00 to $15.00 and gave the stock a "market perform" rating in a research report on Tuesday, August 5th. Barclays set a $19.00 price target on Rocket Companies and gave the stock a "cautious" rating in a research report on Monday. Weiss Ratings restated a "sell (d)" rating on shares of Rocket Companies in a research report on Wednesday. The Goldman Sachs Group increased their price objective on Rocket Companies from $14.00 to $16.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. Finally, Jefferies Financial Group increased their price objective on Rocket Companies from $11.50 to $14.00 and gave the company a "hold" rating in a research report on Tuesday, July 22nd. Three research analysts have rated the stock with a Buy rating, eight have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, Rocket Companies presently has an average rating of "Reduce" and a consensus target price of $17.12.

Rocket Companies Stock Up 0.7%

NYSE RKT opened at $16.38 on Friday. The firm has a market cap of $34.46 billion, a PE ratio of -327.50 and a beta of 2.23. Rocket Companies has a one year low of $10.06 and a one year high of $22.56. The stock's 50 day simple moving average is $18.78 and its 200 day simple moving average is $15.22. 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 released its quarterly earnings results on Thursday, July 31st. The company reported $0.04 EPS for the quarter, topping analysts' consensus estimates of $0.03 by $0.01. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.28 billion. Rocket Companies had a positive return on equity of 3.18% and a negative net margin of 0.01%.Rocket Companies's revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.06 EPS. Rocket Companies has set its Q3 2025 guidance at EPS. As a group, sell-side analysts forecast that Rocket Companies will post 0.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Perkins Coie Trust Co bought a new position in shares of Rocket Companies in the 3rd quarter worth $119,000. Whalen Wealth Management Inc. bought a new position in shares of Rocket Companies in the 3rd quarter worth $558,000. Wedmont Private Capital bought a new position in shares of Rocket Companies in the 3rd quarter worth $424,000. HCR Wealth Advisors boosted its position in shares of Rocket Companies by 3.9% in the 3rd quarter. HCR Wealth Advisors now owns 68,813 shares of the company's stock worth $1,264,000 after purchasing an additional 2,564 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Rocket Companies by 148.2% during the third quarter. GAMMA Investing LLC now owns 24,620 shares of the company's stock worth $477,000 after acquiring an additional 14,699 shares in the last quarter. 4.59% of the stock is currently owned by 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.

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