Zacks Research Upgrades Rocket Companies (NYSE:RKT) to "Hold"

Key Points

• Zacks Research has upgraded Rocket Companies from a "strong sell" to a "hold" rating, signifying a shift in analysts' outlook on the stock.
• Multiple analysts, including those from Morgan Stanley and Bank of America, have increased their target prices for Rocket Companies, indicating a generally positive sentiment in the market.
• As of now, Rocket Companies has a consensus rating of "hold" with an average target price of $17.12, showcasing mixed opinions among analysts regarding its future performance.

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

RKT has been the subject of several other reports. Morgan Stanley boosted their target price on Rocket Companies from $16.00 to $18.00 and gave the stock an "equal weight" rating in a research note on Monday, September 29th. Barclays set a $19.00 target price on Rocket Companies and gave the stock a "cautious" rating in a research note on Monday, October 6th. Royal Bank Of Canada boosted their target price on Rocket Companies from $17.00 to $20.00 and gave the stock a "sector perform" rating in a research note on Wednesday, October 8th. Jefferies Financial Group boosted their target price on Rocket Companies from $11.50 to $14.00 and gave the stock a "hold" rating in a research note on Tuesday, July 22nd. Finally, Bank of America raised Rocket Companies from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $21.00 to $24.00 in a research note on Wednesday, September 10th. Three research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Rocket Companies has a consensus rating of "Hold" and an average target price of $17.12.

Rocket Companies Trading Down 1.0%

Shares of NYSE RKT opened at $16.76 on Tuesday. Rocket Companies has a twelve month low of $10.06 and a twelve month high of $22.56. The company has a current ratio of 18.74, a quick ratio of 18.74 and a debt-to-equity ratio of 2.36. The stock has a fifty day simple moving average of $18.72 and a 200-day simple moving average of $15.29. The stock has a market capitalization of $35.27 billion, a PE ratio of -335.16 and a beta of 2.23.

Rocket Companies (NYSE:RKT - Get Free Report) last issued 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 positive return on equity of 3.18% and a negative net margin of 0.01%.The business had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.28 billion. During the same period in the previous year, the firm posted $0.06 earnings per share. The company's revenue was up 4.5% on a year-over-year basis. Rocket Companies has set its Q3 2025 guidance at EPS. On average, equities analysts forecast that Rocket Companies will post 0.15 earnings per share for the current year.

Institutional Trading of Rocket Companies

Several institutional investors and hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. lifted its holdings in shares of Rocket Companies by 18.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,890 shares of the company's stock valued at $55,000 after purchasing an additional 605 shares during the last quarter. Amundi lifted its holdings in shares of Rocket Companies by 2.3% in the 2nd quarter. Amundi now owns 34,170 shares of the company's stock valued at $498,000 after purchasing an additional 754 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Rocket Companies by 23.2% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,339 shares of the company's stock valued at $62,000 after purchasing an additional 816 shares during the last quarter. USS Investment Management Ltd lifted its holdings in shares of Rocket Companies by 2.7% in the 1st quarter. USS Investment Management Ltd now owns 37,152 shares of the company's stock valued at $448,000 after purchasing an additional 967 shares during the last quarter. Finally, Missouri Trust & Investment Co lifted its holdings in shares of Rocket Companies by 1.1% in the 2nd quarter. Missouri Trust & Investment Co now owns 94,395 shares of the company's stock valued at $1,339,000 after purchasing an additional 1,000 shares during the last quarter. 4.59% of the stock is owned by hedge funds and other institutional investors.

About Rocket Companies

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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