Rocket Companies’ (RKT) “Buy” Rating Reaffirmed at BTIG Research

Rocket Companies (NYSE:RKT)‘s stock had its “buy” rating restated by equities research analysts at BTIG Research in a research report issued on Wednesday,Benzinga reports. They currently have a $25.00 price objective on the stock. BTIG Research’s price objective suggests a potential upside of 46.10% from the stock’s current price.

Several other equities research analysts also recently weighed in on RKT. Morgan Stanley raised their price target on shares of Rocket Companies from $16.00 to $18.00 and gave the company an “equal weight” rating in a research report on Monday, September 29th. Royal Bank Of Canada lifted their target price on Rocket Companies from $17.00 to $20.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 8th. UBS Group set a $17.00 price target on Rocket Companies and gave the stock a “neutral” rating in a research note on Friday, October 10th. Weiss Ratings reiterated a “sell (d)” rating on shares of Rocket Companies in a report on Wednesday, October 8th. Finally, Wall Street Zen downgraded shares of Rocket Companies from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Four analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $18.18.

Rocket Companies Stock Up 0.8%

Shares of NYSE RKT traded up $0.14 during trading on Wednesday, reaching $17.11. The company had a trading volume of 3,661,683 shares, compared to its average volume of 19,921,428. Rocket Companies has a 12-month low of $10.06 and a 12-month high of $22.56. The company has a quick ratio of 19.68, a current ratio of 19.68 and a debt-to-equity ratio of 2.16. The business’s 50-day moving average is $18.02 and its 200 day moving average is $16.05. The stock has a market cap of $36.01 billion, a PE ratio of 214.13 and a beta of 2.21.

Rocket Companies (NYSE:RKT) last posted its quarterly earnings results on Thursday, October 30th. The company reported $0.07 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.07. Rocket Companies had a positive return on equity of 2.83% and a negative net margin of 1.77%.The firm had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the previous year, the firm earned $0.08 EPS. Rocket Companies’s quarterly revenue was up 148.1% compared to the same quarter last year. Rocket Companies has set its Q4 2025 guidance at EPS. As a group, equities analysts forecast that Rocket Companies will post 0.15 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Matthew Rizik sold 2,500 shares of the stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $17.47, for a total transaction of $43,675.00. Following the completion of the transaction, the director directly owned 1,025,684 shares in the company, valued at approximately $17,918,699.48. This represents a 0.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 92.64% of the stock is owned by company insiders.

Institutional Trading of Rocket Companies

Several hedge funds have recently made changes to their positions in RKT. Durable Capital Partners LP purchased a new stake in Rocket Companies during the third quarter valued at approximately $213,010,000. ValueAct Holdings L.P. lifted its holdings in shares of Rocket Companies by 67.9% in the 3rd quarter. ValueAct Holdings L.P. now owns 25,395,627 shares of the company’s stock worth $492,167,000 after acquiring an additional 10,270,018 shares during the last quarter. Nuveen LLC purchased a new position in shares of Rocket Companies during the 1st quarter worth about $96,470,000. Fred Alger Management LLC grew its holdings in Rocket Companies by 7,412.6% during the 3rd quarter. Fred Alger Management LLC now owns 6,078,800 shares of the company’s stock valued at $117,807,000 after purchasing an additional 5,997,885 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Rocket Companies by 29.5% in the 3rd quarter. Vanguard Group Inc. now owns 22,945,500 shares of the company’s stock worth $444,684,000 after purchasing an additional 5,226,931 shares during the period. 4.59% of the stock is currently owned by hedge funds and other institutional investors.

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.