Rocket Companies (NYSE:RKT) Given Neutral Rating at Wedbush

Wedbush reaffirmed their neutral rating on shares of Rocket Companies (NYSE:RKT) in a research note published on Wednesday,Benzinga reports. The brokerage currently has a $13.00 price target on the stock. Wedbush also issued estimates for Rocket Companies’ Q1 2025 earnings at $0.11 EPS, Q2 2025 earnings at $0.11 EPS, Q3 2025 earnings at $0.12 EPS, FY2025 earnings at $0.47 EPS and FY2026 earnings at $0.62 EPS.

Several other research analysts have also recently weighed in on RKT. Keefe, Bruyette & Woods upped their price objective on Rocket Companies from $10.50 to $12.00 and gave the stock an “underperform” rating in a research report on Monday, March 3rd. Morgan Stanley dropped their price objective on Rocket Companies from $16.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 19th. Bank of America upped their target price on Rocket Companies from $14.00 to $15.00 and gave the company an “underperform” rating in a research report on Thursday, November 14th. JPMorgan Chase & Co. reduced their price target on Rocket Companies from $14.00 to $10.50 and set an “underweight” rating on the stock in a research report on Tuesday, January 14th. Finally, The Goldman Sachs Group reduced their target price on Rocket Companies from $16.00 to $14.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $13.83.

Rocket Companies Stock Up 6.1 %

RKT stock opened at $15.76 on Wednesday. The company has a debt-to-equity ratio of 1.51, a current ratio of 15.47 and a quick ratio of 15.47. The stock has a market capitalization of $31.43 billion, a P/E ratio of -98.47 and a beta of 2.39. The business has a 50-day moving average of $12.41 and a 200-day moving average of $15.02. Rocket Companies has a fifty-two week low of $10.06 and a fifty-two week high of $21.38.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its holdings in shares of Rocket Companies by 324.4% during the third quarter. Victory Capital Management Inc. now owns 67,161 shares of the company’s stock worth $1,289,000 after purchasing an additional 51,336 shares during the period. Quadrature Capital Ltd purchased a new position in shares of Rocket Companies during the third quarter valued at approximately $1,071,000. XTX Topco Ltd purchased a new position in shares of Rocket Companies during the third quarter valued at approximately $1,486,000. Entropy Technologies LP purchased a new position in shares of Rocket Companies during the third quarter valued at approximately $875,000. Finally, Connective Portfolio Management LLC purchased a new position in shares of Rocket Companies during the fourth quarter valued at approximately $428,000. Institutional investors 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.