Zacks Research upgraded shares of Rocket Companies (NYSE:RKT – Free Report) from a strong sell rating to a hold rating in a report published on Tuesday,Zacks.com reports.
Several other analysts also recently issued reports on RKT. Keefe, Bruyette & Woods upped their price target on Rocket Companies from $14.00 to $15.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 5th. Jefferies Financial Group upped their price target on Rocket Companies from $11.50 to $14.00 and gave the stock a “hold” rating in a research note on Tuesday, July 22nd. Barclays set a $19.00 price objective on Rocket Companies and gave the stock a “cautious” rating in a research report on Monday, October 6th. Morgan Stanley boosted their price objective on Rocket Companies from $16.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Monday, September 29th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Rocket Companies in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $17.12.
Check Out Our Latest Analysis on RKT
Rocket Companies Stock Performance
Rocket Companies (NYSE:RKT – Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.01. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.28 billion. Rocket Companies had a positive return on equity of 3.18% and a negative net margin of 0.01%.The firm’s revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.06 EPS. Rocket Companies has set its Q3 2025 guidance at EPS. As a group, equities research analysts forecast that Rocket Companies will post 0.15 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Rocket Companies
Large investors have recently added to or reduced their stakes in the company. North Capital Inc. raised its holdings in 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 acquiring an additional 1,350 shares in the last quarter. SouthState Corp raised its holdings in 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 in the last quarter. Mather Group LLC. raised its holdings in Rocket Companies by 312.2% in the 1st quarter. Mather Group LLC. now owns 2,601 shares of the company’s stock valued at $31,000 after acquiring an additional 1,970 shares in the last quarter. Brooklyn Investment Group raised its holdings in Rocket Companies by 251.3% in the 1st quarter. Brooklyn Investment Group now owns 3,390 shares of the company’s stock valued at $41,000 after acquiring an additional 2,425 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Rocket Companies by 82.4% in the 1st quarter. GAMMA Investing LLC now owns 3,905 shares of the company’s stock valued at $47,000 after acquiring an additional 1,764 shares in 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.
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