Royal Bank Of Canada Boosts Rocket Companies (NYSE:RKT) Price Target to $20.00

Key Points

• Royal Bank of Canada has raised Rocket Companies' price target from $17.00 to $20.00, indicating a potential upside of 19.57% from the current price.
• The stock received mixed ratings from various analysts, with one strong buy, two buy, eight hold, and four sell recommendations, leading to an average rating of "Hold".
• Rocket Companies reported earnings of $0.04 per share, exceeding estimates, with a quarterly revenue of $1.36 billion, reflecting a year-over-year increase of 4.5%.

Rocket Companies (NYSE:RKT - Get Free Report) had its target price upped by equities research analysts at Royal Bank Of Canada from $17.00 to $20.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a "sector perform" rating on the stock. Royal Bank Of Canada's price target suggests a potential upside of 19.57% from the company's current price.

RKT has been the topic of a number of other research reports. Keefe, Bruyette & Woods upped their price objective on Rocket Companies from $14.00 to $15.00 and gave the stock a "market perform" rating in a report on Tuesday, August 5th. Morgan Stanley upped their target price on Rocket Companies from $16.00 to $18.00 and gave the company an "equal weight" rating in a report on Monday, September 29th. Zacks Research lowered Rocket Companies from a "hold" rating to a "strong sell" rating in a report on Monday, September 29th. Barclays set a $19.00 target price on Rocket Companies and gave the company a "cautious" rating in a report on Monday. Finally, Jefferies Financial Group upped their target price on Rocket Companies from $11.50 to $14.00 and gave the company a "hold" rating in a report on Tuesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eight have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $17.04.

Rocket Companies Price Performance

RKT stock traded up $0.45 on Wednesday, reaching $16.73. 6,224,481 shares of the company's stock were exchanged, compared to its average volume of 16,410,131. The stock has a fifty day moving average of $18.72 and a 200-day moving average of $15.17. Rocket Companies has a twelve month low of $10.06 and a twelve month high of $22.56. The firm has a market cap of $35.20 billion, a PE ratio of -334.10 and a beta of 2.23. 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 (NYSE:RKT - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.04 earnings per share for the quarter, topping analysts' consensus estimates of $0.03 by $0.01. Rocket Companies had a positive return on equity of 3.18% and a negative net margin of 0.01%.The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the prior year, the company posted $0.06 earnings per share. Rocket Companies's quarterly revenue was up 4.5% on a year-over-year basis. Rocket Companies has set its Q3 2025 guidance at EPS. As a group, equities analysts predict that Rocket Companies will post 0.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Rocket Companies

Several hedge funds and other institutional investors have recently bought and sold shares of RKT. North Capital Inc. raised its position in shares of Rocket Companies by 287.2% in the 2nd quarter. North Capital Inc. now owns 1,820 shares of the company's stock valued at $26,000 after purchasing an additional 1,350 shares in the last quarter. SouthState Corp increased its holdings in shares of Rocket Companies by 2,044.8% in the 2nd quarter. SouthState Corp now owns 2,059 shares of the company's stock valued at $29,000 after acquiring an additional 1,963 shares during the last quarter. Mather Group LLC. grew its stake in Rocket Companies by 312.2% during the 1st quarter. Mather Group LLC. now owns 2,601 shares of the company's stock worth $31,000 after buying an additional 1,970 shares during the last quarter. Brooklyn Investment Group grew its stake in Rocket Companies by 251.3% during the 1st quarter. Brooklyn Investment Group now owns 3,390 shares of the company's stock worth $41,000 after buying an additional 2,425 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in Rocket Companies by 82.4% during the 1st quarter. GAMMA Investing LLC now owns 3,905 shares of the company's stock worth $47,000 after buying an additional 1,764 shares during the last quarter. 4.59% of the stock is owned by institutional investors and hedge funds.

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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