Rocket Companies' (RKT) Outperform Rating Reaffirmed at Wedbush

Wedbush restated their outperform rating on shares of Rocket Companies (NYSE:RKT - Free Report) in a research report report published on Wednesday, Marketbeat reports. Wedbush currently has a $13.00 price target on the stock. Wedbush also issued estimates for Rocket Companies' Q1 2025 earnings at $0.01 EPS, Q2 2025 earnings at $0.07 EPS, Q3 2025 earnings at $0.11 EPS, Q4 2025 earnings at $0.12 EPS, FY2025 earnings at $0.31 EPS and FY2026 earnings at $0.64 EPS.

Other research analysts also recently issued research reports about the company. Morgan Stanley lowered their target price on Rocket Companies from $16.00 to $13.00 and set an "equal weight" rating for the company in a research note on Thursday, December 19th. Keefe, Bruyette & Woods upped their price target on shares of Rocket Companies from $14.00 to $15.00 and gave the stock a "market perform" rating in a report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft upgraded Rocket Companies from a "hold" rating to a "buy" rating and set a $16.00 price objective on the stock in a research report on Wednesday, April 2nd. The Goldman Sachs Group cut their target price on Rocket Companies from $16.00 to $14.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 7th. Finally, UBS Group cut their price target on Rocket Companies from $14.00 to $13.00 and set a "neutral" rating on the stock in a report on Wednesday. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $14.38.

Rocket Companies Stock Performance

Shares of Rocket Companies stock traded down $0.17 during trading on Wednesday, reaching $12.08. The company's stock had a trading volume of 6,654,375 shares, compared to its average volume of 4,555,214. The business's 50-day moving average price is $13.48 and its 200-day moving average price is $13.71. The company has a quick ratio of 15.47, a current ratio of 15.47 and a debt-to-equity ratio of 1.51. Rocket Companies has a 52 week low of $10.06 and a 52 week high of $21.38. The firm has a market cap of $24.11 billion, a PE ratio of -75.49 and a beta of 2.35.

Rocket Companies Cuts Dividend

The company also recently announced a dividend, which was paid on Thursday, April 3rd. Shareholders of record on Thursday, March 20th were paid a $0.80 dividend. The ex-dividend date was Thursday, March 20th. Rocket Companies's payout ratio is presently 801.25%.

Institutional Investors Weigh In On Rocket Companies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RKT. Parallel Advisors LLC raised its position in shares of Rocket Companies by 302.2% in the first quarter. Parallel Advisors LLC now owns 2,956 shares of the company's stock valued at $36,000 after purchasing an additional 2,221 shares during the period. GAMMA Investing LLC raised its stake in shares of Rocket Companies by 82.4% during the 1st quarter. GAMMA Investing LLC now owns 3,905 shares of the company's stock valued at $47,000 after purchasing an additional 1,764 shares during the period. Itau Unibanco Holding S.A. purchased a new stake in Rocket Companies during the 4th quarter worth about $47,000. KBC Group NV grew its holdings in Rocket Companies by 58.1% during the 4th quarter. KBC Group NV now owns 6,056 shares of the company's stock valued at $68,000 after buying an additional 2,226 shares in the last quarter. Finally, Sterling Capital Management LLC increased its position in shares of Rocket Companies by 57.2% during the fourth quarter. Sterling Capital Management LLC now owns 8,295 shares of the company's stock valued at $93,000 after buying an additional 3,019 shares during the period. 4.59% of the stock is currently owned by 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.