Rocket Companies (NYSE:RKT) Given New $16.50 Price Target at JPMorgan Chase & Co.

Rocket Companies (NYSE:RKT) had its price objective cut by investment analysts at JPMorgan Chase & Co. from $24.00 to $16.50 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 10.11% from the company’s current price.

Other equities analysts also recently issued research reports about the company. Weiss Ratings restated a “sell (d+)” rating on shares of Rocket Companies in a research report on Monday, December 29th. Compass Point began coverage on Rocket Companies in a research report on Tuesday, March 10th. They issued a “buy” rating and a $21.00 target price on the stock. Wells Fargo & Company decreased their target price on Rocket Companies from $19.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Thursday. Citizens Jmp assumed coverage on Rocket Companies in a research report on Wednesday, March 25th. They issued a “market perform” rating on the stock. Finally, Barclays upgraded Rocket Companies from an “equal weight” rating to an “overweight” rating and reduced their price objective for the stock from $22.00 to $19.00 in a research report on Monday. Eight research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $20.25.

Rocket Companies Price Performance

Shares of RKT stock traded down $0.22 during trading hours on Thursday, hitting $14.99. 18,993,465 shares of the company’s stock were exchanged, compared to its average volume of 30,226,635. The company has a quick ratio of 70.90, a current ratio of 70.90 and a debt-to-equity ratio of 1.07. The firm has a market cap of $42.25 billion, a P/E ratio of -115.27 and a beta of 2.34. The firm has a 50 day moving average of $16.50 and a two-hundred day moving average of $18.05. Rocket Companies has a fifty-two week low of $10.94 and a fifty-two week high of $24.36.

Rocket Companies (NYSE:RKT) last released its earnings results on Thursday, February 26th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.02. The business had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.24 billion. Rocket Companies had a positive return on equity of 3.04% and a negative net margin of 1.02%.The business’s quarterly revenue was up 52.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.04 earnings per share. Sell-side analysts forecast that Rocket Companies will post 0.15 EPS for the current year.

Insider Buying and Selling

In other Rocket Companies news, Director Matthew Rizik sold 2,500 shares of Rocket Companies stock in a transaction on Monday, January 12th. The stock was sold at an average price of $22.99, for a total value of $57,475.00. Following the sale, the director owned 1,038,536 shares in the company, valued at $23,875,942.64. The trade was a 0.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 92.64% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Rocket Companies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. ORG Partners LLC raised its position in Rocket Companies by 22.3% in the fourth quarter. ORG Partners LLC now owns 2,857 shares of the company’s stock valued at $55,000 after purchasing an additional 520 shares during the period. Manchester Capital Management LLC grew its stake in shares of Rocket Companies by 0.5% in the fourth quarter. Manchester Capital Management LLC now owns 116,466 shares of the company’s stock valued at $2,255,000 after buying an additional 618 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Rocket Companies by 3.5% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 18,817 shares of the company’s stock valued at $365,000 after buying an additional 636 shares in the last quarter. Miller Wealth Advisors LLC grew its stake in shares of Rocket Companies by 65.0% in the third quarter. Miller Wealth Advisors LLC now owns 1,650 shares of the company’s stock valued at $32,000 after buying an additional 650 shares in the last quarter. Finally, Composition Wealth LLC grew its stake in shares of Rocket Companies by 2.7% in the fourth quarter. Composition Wealth LLC now owns 25,323 shares of the company’s stock valued at $490,000 after buying an additional 668 shares in the last quarter. Hedge funds and other institutional investors own 4.59% of the company’s stock.

Key Rocket Companies News

Here are the key news stories impacting Rocket Companies this week:

• Positive Sentiment: BofA reiterated a Buy rating with a $19 target, supporting investor confidence that RKT can outperform if housing conditions stabilize. BofA reiterates Rocket Cos stock Buy rating at $19 target
• Positive Sentiment: Barclays raised RKT to Overweight, a constructive institutional vote that can support demand for the shares. Rocket Companies (NYSE:RKT) Raised to Overweight at Barclays
• Positive Sentiment: Stocks, including RKT, ran higher in the afternoon after President Trump announced a temporary suspension of attacks on Iran, which pushed oil sharply lower and lifted risk assets — a market tailwind for mortgages/financials. Rocket Companies, Columbia Banking System, and Triumph Financial Stocks Trade Up
• Neutral Sentiment: Industry pieces continue to list RKT among mortgage-related services to watch amid volatility — a sign that analysts see both risk and opportunity; this is recognition but not an immediate catalyst. 3 Mortgage & Related Services Stocks to Watch Amid Industry Challenges
• Neutral Sentiment: Industry tech/ops moves by peers (Annaly/Onslow Bay adopting MeridianLink) highlight competitive pushes to improve origination efficiency — a sector-level note that could raise execution expectations over time. Annaly’s Arm Upgrades Non-Agency Capabilities With MeridianLink
• Negative Sentiment: Redfin reported U.S. pending home sales fell 2.4% year-over-year in the four weeks ending April 5 — the largest decline in three months — signaling weaker near-term mortgage demand, which hurts Rocket’s core origination volume. Redfin Reports Pending Home Sales Post Biggest Decline in 3 Months
• Negative Sentiment: Redfin also found a record 34.2% of February sellers cut their list price year-over-year — rising price pressure and weaker demand could compress margins and slow origination/refi activity for Rocket. A Record 34% of February Home Sellers Cut Their List Price
• Negative Sentiment: Wells Fargo trimmed its RKT price target from $19 to $17 and moved to Equal Weight, a downgrade in upside expectations that can pressure sentiment and limit short-term upside. Wells Fargo lowers Rocket Companies price target

About Rocket Companies

Rocket Companies, Inc is a Detroit-based holding company whose businesses are centered on digital mortgage origination and related consumer finance and real estate services. The company grew out of the Quicken Loans franchise and completed an initial public offering in 2020. Founder Dan Gilbert remains a prominent figure associated with the firm, which operates a suite of brands that aim to simplify the home financing and buying experience through technology and scale.

The company’s core activity is mortgage lending through its Rocket Mortgage platform, which offers online application, underwriting and servicing for home purchase and refinance loans.