Morgan Stanley Raises Rocket Companies (NYSE:RKT) Price Target to $18.00

Rocket Companies (NYSE:RKT) had its price objective raised by Morgan Stanley from $16.00 to $18.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other research analysts have also recently commented on the company. BTIG Research upgraded Rocket Companies to a “strong-buy” rating in a research note on Tuesday, August 19th. Keefe, Bruyette & Woods raised their target price on Rocket Companies from $14.00 to $15.00 and gave the company a “market perform” rating in a report on Tuesday, August 5th. UBS Group set a $16.00 price target on Rocket Companies and gave the stock a “neutral” rating in a report on Tuesday, August 5th. Barclays increased their price objective on shares of Rocket Companies from $14.00 to $16.00 and gave the company an “equal weight” rating in a research report on Friday, August 1st. Finally, Bank of America upgraded shares of Rocket Companies from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $21.00 to $24.00 in a research note on Wednesday, September 10th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $16.65.

Rocket Companies Trading Up 4.8%

NYSE RKT opened at $20.32 on Monday. 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 company’s 50 day moving average price is $18.53 and its 200 day moving average price is $15.10. The firm has a market capitalization of $42.76 billion, a price-to-earnings ratio of -406.38 and a beta of 2.23.

Rocket Companies (NYSE:RKT) last issued its earnings results on Thursday, July 31st. The company reported $0.04 EPS for the quarter, beating 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 business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the firm posted $0.06 EPS. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. Rocket Companies has set its Q3 2025 guidance at EPS. On average, sell-side analysts predict that Rocket Companies will post 0.15 EPS for the current year.

Hedge Funds Weigh In On Rocket Companies

A number of institutional investors have recently made changes to their positions in the business. Nuveen LLC purchased a new position in shares of Rocket Companies during the 1st quarter valued at approximately $96,470,000. Third Point LLC acquired a new stake in Rocket Companies in the second quarter valued at $67,355,000. Broad Bay Capital Management LP acquired a new stake in Rocket Companies in the second quarter valued at $51,585,000. Allspring Global Investments Holdings LLC bought a new position in Rocket Companies during the 2nd quarter valued at $44,102,000. Finally, Maple Rock Capital Partners Inc. acquired a new position in Rocket Companies during the 2nd quarter worth $32,984,000. 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.