Rocket Companies (NYSE:RKT) Given Outperform Rating at Wedbush

Wedbush reaffirmed their outperform rating on shares of Rocket Companies (NYSE:RKT) in a report released on Wednesday, MarketBeat Ratings reports. Wedbush currently has a $13.00 target price on the stock. Wedbush also issued estimates for Rocket Companies’ Q1 2025 earnings at $0.01 EPS, Q2 2025 earnings at $0.07 EPS, Q3 2025 earnings at $0.11 EPS, Q4 2025 earnings at $0.12 EPS, FY2025 earnings at $0.31 EPS and FY2026 earnings at $0.64 EPS.

Several other equities research analysts have also recently issued reports on RKT. Royal Bank of Canada restated a “sector perform” rating and set a $18.00 price objective on shares of Rocket Companies in a research report on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft upgraded shares of Rocket Companies from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods lifted their price target on shares of Rocket Companies from $14.00 to $15.00 and gave the company a “market perform” rating in a research report on Tuesday, April 8th. Barclays upgraded Rocket Companies from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $10.00 to $14.00 in a research report on Tuesday, April 8th. Finally, The Goldman Sachs Group reduced their target price on Rocket Companies from $16.00 to $14.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $14.38.

Rocket Companies Stock Down 1.4 %

Shares of NYSE:RKT opened at $12.08 on Wednesday. Rocket Companies has a 52-week low of $10.06 and a 52-week high of $21.38. The company has a quick ratio of 15.47, a current ratio of 15.47 and a debt-to-equity ratio of 1.51. The business has a fifty day moving average of $13.48 and a two-hundred day moving average of $13.71. The stock has a market cap of $24.11 billion, a P/E ratio of -75.49 and a beta of 2.35.

Rocket Companies Cuts Dividend

The company also recently announced a dividend, which was paid on Thursday, April 3rd. Shareholders of record on Thursday, March 20th were given a $0.80 dividend. The ex-dividend date of this dividend was Thursday, March 20th. Rocket Companies’s dividend payout ratio is currently 801.25%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in RKT. Vanguard Group Inc. increased its stake in Rocket Companies by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 12,520,074 shares of the company’s stock worth $140,976,000 after buying an additional 431,054 shares during the period. Boston Partners increased its position in shares of Rocket Companies by 29.8% during the fourth quarter. Boston Partners now owns 12,313,780 shares of the company’s stock worth $138,673,000 after acquiring an additional 2,829,292 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Rocket Companies by 2.2% in the fourth quarter. JPMorgan Chase & Co. now owns 8,161,979 shares of the company’s stock valued at $91,904,000 after acquiring an additional 174,978 shares in the last quarter. Nuveen Asset Management LLC boosted its holdings in Rocket Companies by 52.7% in the fourth quarter. Nuveen Asset Management LLC now owns 8,122,148 shares of the company’s stock valued at $91,455,000 after purchasing an additional 2,804,090 shares during the period. Finally, Wellington Management Group LLP grew its stake in Rocket Companies by 174.5% during the 4th quarter. Wellington Management Group LLP now owns 4,705,177 shares of the company’s stock worth $52,980,000 after purchasing an additional 2,990,837 shares in the last quarter. Hedge funds and other institutional investors own 4.59% of the company’s stock.

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.