JPMorgan Chase & Co. Cuts Rocket Companies (NYSE:RKT) Price Target to $16.50

Rocket Companies (NYSE:RKT) had its price objective reduced by JPMorgan Chase & Co. from $24.00 to $16.50 in a report released on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other brokerages have also recently commented on RKT. Weiss Ratings restated a “sell (d+)” rating on shares of Rocket Companies in a research note on Monday, December 29th. Barclays upgraded shares of Rocket Companies from an “equal weight” rating to an “overweight” rating and dropped their price target for the company from $22.00 to $19.00 in a research note on Monday, April 6th. Citizens Jmp initiated coverage on shares of Rocket Companies in a research note on Wednesday, March 25th. They set a “market perform” rating for the company. Jefferies Financial Group initiated coverage on shares of Rocket Companies in a research note on Friday, December 19th. They set a “buy” rating and a $25.00 price objective for the company. Finally, Keefe, Bruyette & Woods raised shares of Rocket Companies from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $20.00 to $22.00 in a research note on Monday, March 16th. Eight investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $20.25.

Rocket Companies Stock Down 1.4%

RKT opened at $14.81 on Thursday. The company has a quick ratio of 70.90, a current ratio of 70.90 and a debt-to-equity ratio of 1.07. The stock has a market cap of $41.75 billion, a price-to-earnings ratio of -113.89 and a beta of 2.34. Rocket Companies has a twelve month low of $10.94 and a twelve month high of $24.36. The company’s 50-day moving average price is $16.32 and its two-hundred day moving average price is $17.98.

Rocket Companies (NYSE:RKT) last released its earnings results on Thursday, February 26th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. The firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Rocket Companies had a negative net margin of 1.02% and a positive return on equity of 3.04%. The company’s quarterly revenue was up 52.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.04 earnings per share. As a group, equities analysts expect that Rocket Companies will post 0.15 earnings per share for the current year.

Insider Activity at Rocket Companies

In related news, Director Matthew Rizik sold 2,500 shares of the stock in a transaction on Monday, January 12th. The shares were sold at an average price of $22.99, for a total transaction of $57,475.00. Following the transaction, the director owned 1,038,536 shares of the company’s stock, valued at approximately $23,875,942.64. This trade represents a 0.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 92.64% of the company’s stock.

Hedge Funds Weigh In On Rocket Companies

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in Rocket Companies by 280.3% during the 4th quarter. Vanguard Group Inc. now owns 87,256,540 shares of the company’s stock valued at $1,689,287,000 after buying an additional 64,311,040 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Rocket Companies by 11,636.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 26,189,869 shares of the company’s stock valued at $507,037,000 after buying an additional 25,966,725 shares during the period. Morgan Stanley boosted its position in Rocket Companies by 461.2% during the 4th quarter. Morgan Stanley now owns 27,009,279 shares of the company’s stock valued at $522,900,000 after buying an additional 22,196,782 shares during the period. State Street Corp boosted its position in Rocket Companies by 323.9% during the 4th quarter. State Street Corp now owns 20,688,336 shares of the company’s stock valued at $400,526,000 after buying an additional 15,807,776 shares during the period. Finally, ValueAct Holdings L.P. boosted its position in Rocket Companies by 55.1% during the 4th quarter. ValueAct Holdings L.P. now owns 39,380,652 shares of the company’s stock valued at $762,409,000 after buying an additional 13,985,025 shares during the period. Institutional investors own 4.59% of the company’s stock.

Rocket Companies News Roundup

Here are the key news stories impacting Rocket Companies this week:

• Positive Sentiment: Strategic growth move — Rocket announced an alliance with Compass to expand U.S. listing inventory and cross‑promote listings across both platforms, which could help Redfin/real‑estate network effects and long‑term revenue diversification if execution succeeds. Rocket And Compass Alliance Puts Growth Plans And Risks In Focus
• Positive Sentiment: Analyst support — Bank of America reiterated a Buy rating with a $19 target, signaling that at least some sell‑side analysts view RKT as undervalued versus company growth and platform scale. BofA reiterates Rocket Cos stock Buy rating at $19 target
• Neutral Sentiment: Industry context — A Zacks piece flags mortgage headwinds from persistent high rates but highlights RKT’s servicing business, diversification and scale as stabilizing factors; this suggests mixed near‑term pressure but structural strengths longer term. Zacks Industry Outlook Highlights Rocket Companies, Federal Agricultural Mortgage and Lending Tree
• Negative Sentiment: Analyst downward moves weighing on sentiment — JPMorgan cut its price target from $24 to $16.50 (Neutral) and Wells Fargo trimmed its target to $17 (Equal Weight); those cuts are cited as a primary reason for today’s share weakness. Why Rocket Companies (RKT) Shares Are Falling Today
• Negative Sentiment: Weak housing signals — Redfin data show a decline in pending home sales and a record share of sellers cutting list prices, underscoring demand softness that could pressure mortgage originations and fees tied to transaction volume. Redfin Reports Pending Home Sales Post Biggest Decline in 3 Months as High Rates, Iran War Chill Market A Record 34% of February Home Sellers Cut Their List Price

Rocket Companies Company Profile

Rocket Companies, Inc is a Detroit-based holding company whose businesses are centered on digital mortgage origination and related consumer finance and real estate services. The company grew out of the Quicken Loans franchise and completed an initial public offering in 2020. Founder Dan Gilbert remains a prominent figure associated with the firm, which operates a suite of brands that aim to simplify the home financing and buying experience through technology and scale.

The company’s core activity is mortgage lending through its Rocket Mortgage platform, which offers online application, underwriting and servicing for home purchase and refinance loans.