Rocket Companies (NYSE:RKT) Upgraded at Barclays

Barclays upgraded shares of Rocket Companies (NYSE:RKT) from an equal weight rating to an overweight rating in a research note released on Monday morning, MarketBeat Ratings reports. They currently have $19.00 target price on the stock, down from their prior target price of $22.00.

A number of other analysts have also commented on the stock. JPMorgan Chase & Co. initiated coverage on shares of Rocket Companies in a research note on Monday, January 12th. They issued a “neutral” rating and a $24.00 price target for the company. Jefferies Financial Group initiated coverage on shares of Rocket Companies in a research note on Friday, December 19th. They issued a “buy” rating and a $25.00 price target for the company. Keefe, Bruyette & Woods upgraded shares of Rocket Companies from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $20.00 to $22.00 in a research note on Monday, March 16th. Compass Point assumed coverage on shares of Rocket Companies in a research note on Tuesday, March 10th. They issued a “buy” rating and a $21.00 price target for the company. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Rocket Companies in a report on Monday, December 29th. Eight analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $20.93.

Rocket Companies Stock Performance

Shares of RKT stock opened at $15.18 on Monday. The company has a 50 day moving average price of $16.50 and a 200-day moving average price of $18.05. Rocket Companies has a 52 week low of $10.94 and a 52 week high of $24.36. The firm has a market capitalization of $42.80 billion, a PE ratio of -116.77 and a beta of 2.34. The company has a quick ratio of 70.90, a current ratio of 70.90 and a debt-to-equity ratio of 1.07.

Rocket Companies (NYSE:RKT) last announced its quarterly earnings results on Thursday, February 26th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. Rocket Companies had a negative net margin of 1.02% and a positive return on equity of 3.04%. The firm had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same period in the previous year, the business posted $0.04 earnings per share. The business’s revenue for the quarter was up 52.2% on a year-over-year basis. As a group, equities research analysts expect that Rocket Companies will post 0.15 earnings per share for the current year.

Insider Activity

In related news, Director Matthew Rizik sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $22.99, for a total value of $57,475.00. Following the transaction, the director owned 1,038,536 shares of the company’s stock, valued at approximately $23,875,942.64. This trade represents a 0.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 92.64% of the company’s stock.

Hedge Funds Weigh In On Rocket Companies

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

Key Stories Impacting Rocket Companies

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

• Positive Sentiment: Barclays raised RKT to Overweight, boosting buy-side interest and signaling stronger analyst confidence in the company’s outlook. Article Title
• Positive Sentiment: Bank of America reiterated a Buy rating with a $19 price target, reinforcing the bullish narrative from major brokers. Article Title
• Positive Sentiment: Macro relief helped lift the stock: reports that President Trump temporarily suspended attacks on Iran sent oil prices sharply lower, prompting risk-on flows into financial and mortgage-related stocks including RKT. Article Title
• Positive Sentiment: Industry coverage names RKT among top PropTech/mortgage-services stocks and analysts characterize the company as well-positioned to navigate market volatility, supporting medium-term investor confidence. Article Title
• Neutral Sentiment: Broader sector pieces note mortgage-market volatility but cite companies like RKT as capable of handling headwinds; these are informative but not immediate price drivers. Article Title
• Neutral Sentiment: Corporate PR (Rocket Mortgage consumer survey) is visibility-positive but unlikely to move the stock materially. Article Title

Rocket Companies Company Profile

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.