Rocket Companies' (RKT) "Neutral" Rating Reaffirmed at Wedbush

Wedbush reiterated their neutral rating on shares of Rocket Companies (NYSE:RKT - Free Report) in a report issued on Wednesday,Benzinga reports. They currently have a $13.00 target price 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.

A number of other brokerages have also recently commented on RKT. UBS Group raised shares of Rocket Companies from a "sell" rating to a "neutral" rating and reduced their target price for the company from $12.50 to $11.50 in a report on Friday, January 10th. Piper Sandler reduced their target price on shares of Rocket Companies from $17.00 to $16.00 and set a "neutral" rating for the company in a report on Thursday, November 14th. The Goldman Sachs Group reduced their target price on shares of Rocket Companies from $16.00 to $14.00 and set a "neutral" rating for the company in a report on Tuesday, January 7th. Bank of America upped their target price on shares of Rocket Companies from $14.00 to $15.00 and gave the company an "underperform" rating in a report on Thursday, November 14th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Rocket Companies from $10.50 to $12.00 and gave the company an "underperform" rating in a report on Monday, March 3rd. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $13.83.

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Rocket Companies Stock Performance

RKT traded up $0.91 on Wednesday, reaching $15.76. The company had a trading volume of 7,851,655 shares, compared to its average volume of 3,091,818. Rocket Companies has a 1 year low of $10.06 and a 1 year high of $21.38. The stock has a market capitalization of $31.43 billion, a PE ratio of -98.47 and a beta of 2.39. The company has a quick ratio of 15.47, a current ratio of 15.47 and a debt-to-equity ratio of 1.51. The stock has a 50-day moving average price of $12.41 and a 200-day moving average price of $15.02.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Private Advisor Group LLC grew its position in Rocket Companies by 26.8% during the third quarter. Private Advisor Group LLC now owns 14,798 shares of the company's stock worth $284,000 after buying an additional 3,129 shares during the period. International Assets Investment Management LLC grew its position in Rocket Companies by 3,429.7% during the third quarter. International Assets Investment Management LLC now owns 7,377 shares of the company's stock worth $142,000 after buying an additional 7,168 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in Rocket Companies by 14.0% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 22,566 shares of the company's stock worth $433,000 after buying an additional 2,766 shares during the period. QRG Capital Management Inc. grew its position in Rocket Companies by 2.5% during the third quarter. QRG Capital Management Inc. now owns 229,639 shares of the company's stock worth $4,407,000 after buying an additional 5,587 shares during the period. Finally, Philip James Wealth Mangement LLC acquired a new position in Rocket Companies during the third quarter worth about $6,811,000. 4.59% of the stock is currently 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.