Rocket Companies (NYSE:RKT) Price Target Raised to $17.00

Rocket Companies (NYSE:RKT) had its price objective hoisted by Wells Fargo & Company from $15.00 to $17.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other analysts have also issued reports on the stock. BTIG Research reiterated a “buy” rating and set a $25.00 price objective on shares of Rocket Companies in a research note on Friday, October 10th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Rocket Companies in a research note on Monday, October 13th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $22.00 price objective (up previously from $16.00) on shares of Rocket Companies in a report on Wednesday, October 29th. Jefferies Financial Group raised their target price on Rocket Companies from $11.50 to $14.00 and gave the company a “hold” rating in a research note on Tuesday, July 22nd. Finally, Zacks Research raised Rocket Companies from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 14th. Three analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $17.54.

Rocket Companies Stock Up 3.5%

NYSE RKT traded up $0.55 during trading hours on Wednesday, hitting $16.16. The company had a trading volume of 33,785,028 shares, compared to its average volume of 44,279,116. The firm’s 50 day moving average is $18.27 and its 200 day moving average is $15.79. The company has a debt-to-equity ratio of 2.16, a current ratio of 19.68 and a quick ratio of 18.74. Rocket Companies has a fifty-two week low of $10.06 and a fifty-two week high of $22.56. The company has a market capitalization of $34.00 billion, a price-to-earnings ratio of 201.96 and a beta of 2.21.

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

Institutional Investors Weigh In On Rocket Companies

Several institutional investors and hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. lifted its holdings in shares of Rocket Companies by 18.4% in the second quarter. PNC Financial Services Group Inc. now owns 3,890 shares of the company’s stock valued at $55,000 after buying an additional 605 shares during the period. Miller Wealth Advisors LLC raised its position in Rocket Companies by 65.0% in the third quarter. Miller Wealth Advisors LLC now owns 1,650 shares of the company’s stock worth $32,000 after acquiring an additional 650 shares in the last quarter. Amundi lifted its holdings in Rocket Companies by 2.3% in the 2nd quarter. Amundi now owns 34,170 shares of the company’s stock valued at $498,000 after acquiring an additional 754 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Rocket Companies by 23.2% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,339 shares of the company’s stock valued at $62,000 after purchasing an additional 816 shares in the last quarter. Finally, USS Investment Management Ltd grew its stake in shares of Rocket Companies by 2.7% in the 1st quarter. USS Investment Management Ltd now owns 37,152 shares of the company’s stock worth $448,000 after purchasing an additional 967 shares during the last quarter. 4.59% of the stock is owned by institutional investors and hedge funds.

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.