Rocket Companies (NYSE:RKT) Upgraded at Bank of America

Bank of America upgraded shares of Rocket Companies (NYSE:RKT) from a neutral rating to a buy rating in a research report released on Wednesday morning, Marketbeat.com reports. Bank of America currently has $24.00 price objective on the stock, up from their previous price objective of $21.00.

A number of other brokerages also recently issued reports on RKT. Jefferies Financial Group lifted their price target on shares of Rocket Companies from $11.50 to $14.00 and gave the stock a “hold” rating in a research note on Tuesday, July 22nd. Barclays lifted their price target on shares of Rocket Companies from $14.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Friday, August 1st. BTIG Research upgraded shares of Rocket Companies to a “strong-buy” rating in a research note on Tuesday, August 19th. UBS Group set a $16.00 price target on shares of Rocket Companies and gave the stock a “neutral” rating in a research note on Tuesday, August 5th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Rocket Companies from $14.00 to $15.00 and gave the stock a “market perform” rating in a report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Rocket Companies presently has a consensus rating of “Hold” and an average target price of $16.50.

Rocket Companies Trading Up 0.0%

NYSE RKT opened at $21.12 on Wednesday. The firm has a 50 day simple moving average of $16.98 and a 200-day simple moving average of $14.56. The company has a debt-to-equity ratio of 2.36, a quick ratio of 18.74 and a current ratio of 18.74. Rocket Companies has a one year low of $10.06 and a one year high of $22.56. The firm has a market cap of $44.45 billion, a price-to-earnings ratio of -422.40 and a beta of 2.30.

Rocket Companies (NYSE:RKT) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. Rocket Companies had a negative net margin of 0.01% and a positive return on equity of 3.18%. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the previous year, the firm earned $0.06 earnings per share. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. Rocket Companies has set its Q3 2025 guidance at EPS. Equities research analysts anticipate that Rocket Companies will post 0.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Rocket Companies

A number of institutional investors have recently modified their holdings of the business. Boston Partners increased its holdings in shares of Rocket Companies by 6.2% in the 2nd quarter. Boston Partners now owns 14,560,706 shares of the company’s stock valued at $206,610,000 after acquiring an additional 856,367 shares during the period. Vanguard Group Inc. increased its holdings in shares of Rocket Companies by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 12,793,549 shares of the company’s stock valued at $154,418,000 after acquiring an additional 273,475 shares during the period. Nuveen Asset Management LLC increased its holdings in shares of Rocket Companies by 52.7% in the 4th quarter. Nuveen Asset Management LLC now owns 8,122,148 shares of the company’s stock valued at $91,455,000 after acquiring an additional 2,804,090 shares during the period. Nuveen LLC acquired a new position in shares of Rocket Companies in the 1st quarter valued at $96,470,000. Finally, Wellington Management Group LLP increased its holdings in shares of Rocket Companies by 1.5% in the 1st quarter. Wellington Management Group LLP now owns 4,774,324 shares of the company’s stock valued at $57,626,000 after acquiring an additional 69,147 shares during the period. 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.