Rocket Companies (NYSE:RKT) Price Target Lowered to $21.00 at Keefe, Bruyette & Woods

Rocket Companies (NYSE:RKT) had its price objective lowered by stock analysts at Keefe, Bruyette & Woods from $22.00 to $21.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 44.85% from the stock’s current price.

Several other equities research analysts also recently weighed in on the company. Zacks Research downgraded Rocket Companies from a “hold” rating to a “strong sell” rating in a research report on Monday, April 13th. Barclays raised Rocket Companies from an “equal weight” rating to an “overweight” rating and reduced their price target for the stock from $22.00 to $19.00 in a research report on Monday, April 6th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $20.00 price objective on shares of Rocket Companies in a research note on Monday. Wells Fargo & Company reduced their target price on shares of Rocket Companies from $19.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 9th. Finally, Stephens initiated coverage on shares of Rocket Companies in a research note on Thursday, April 23rd. They issued an “overweight” rating and a $22.50 target price for the company. Nine analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $20.93.

Rocket Companies Stock Down 2.2%

Shares of NYSE:RKT traded down $0.33 during midday trading on Tuesday, hitting $14.50. 4,475,553 shares of the company’s stock traded hands, compared to its average volume of 28,538,611. The company has a debt-to-equity ratio of 1.13, a quick ratio of 70.90 and a current ratio of 4.37. The company has a market cap of $40.88 billion, a PE ratio of 290.30 and a beta of 2.23. The firm’s fifty day moving average price is $15.07 and its two-hundred day moving average price is $17.67. Rocket Companies has a twelve month low of $11.30 and a twelve month high of $24.36.

Rocket Companies (NYSE:RKT) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.03. Rocket Companies had a net margin of 2.78% and a return on equity of 4.30%. The firm had revenue of $2.82 billion during the quarter, compared to analysts’ expectations of $2.76 billion. During the same period in the prior year, the company earned $0.04 EPS. The firm’s revenue was up 167.1% on a year-over-year basis. On average, equities research analysts anticipate that Rocket Companies will post 0.63 EPS for the current fiscal year.

Institutional Trading of Rocket Companies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Rocket Companies by 280.3% in the fourth quarter. Vanguard Group Inc. now owns 87,256,540 shares of the company’s stock valued at $1,689,287,000 after acquiring an additional 64,311,040 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Rocket Companies by 11,636.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 26,189,869 shares of the company’s stock worth $507,037,000 after acquiring an additional 25,966,725 shares in the last quarter. Morgan Stanley increased its position in shares of Rocket Companies by 461.2% in the 4th quarter. Morgan Stanley now owns 27,009,279 shares of the company’s stock worth $522,900,000 after purchasing an additional 22,196,782 shares during the last quarter. State Street Corp raised its stake in shares of Rocket Companies by 323.9% in the 4th quarter. State Street Corp now owns 20,688,336 shares of the company’s stock valued at $400,526,000 after purchasing an additional 15,807,776 shares in the last quarter. Finally, ValueAct Holdings L.P. lifted its position in shares of Rocket Companies by 55.1% during the fourth quarter. ValueAct Holdings L.P. now owns 39,380,652 shares of the company’s stock worth $762,409,000 after purchasing an additional 13,985,025 shares during the last quarter. Institutional investors own 4.59% of the company’s stock.

Rocket Companies News Roundup

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

• Positive Sentiment: Redfin, the real estate brokerage powered by Rocket, reported that U.S. home prices rose 2.4% year over year in April, the biggest increase in more than a year, signaling a healthier housing backdrop that could support mortgage demand. Redfin Reports Home Prices Posted the Biggest Increase in Over a Year in April
• Positive Sentiment: Redfin also said the gap between home sellers and buyers is narrowing, which may indicate buyer demand is stabilizing and the housing market is becoming more balanced. America’s Housing Market Favors Buyers—But Their Advantage Is Finally Starting to Shrink
• Positive Sentiment: Rocket Mortgage highlighted a large awareness gap around VA loans, a potentially useful growth opportunity since many eligible service members do not realize these loans require no down payment or PMI. Only Half of Service Members Are Aware VA Loans Require No Down Payment
• Positive Sentiment: RBC reiterated a “sector perform” rating on Rocket Companies and set a $20 price target, implying meaningful upside from the stock’s recent trading range. Rocket Companies Given Sector Perform Rating at Royal Bank Of Canada
• Positive Sentiment: Recent commentary around Rocket’s Q1 results pointed to strong revenue growth, earnings beat, AI adoption, and synergy gains from platform integration, which may be helping sentiment. RKT Q1 Deep Dive: AI Adoption, Synergy Gains, and Platform Integration Drive Outperformance
• Neutral Sentiment: Redfin launched “Sunscore,” a new home-search feature that measures how much sunlight a home gets, adding another product enhancement to Rocket’s broader real estate platform. Sunscore Launches on Redfin to Show Homebuyers How Much Sunlight a Home Gets
• Neutral Sentiment: Redfin survey data showed many consumers value sunlight in home searches, reinforcing product relevance but with limited immediate financial impact. Redfin Survey: U.S. Residents Prioritize Sunlight Over Home Size—and It Affects How Happy They Are at Home
• Negative Sentiment: Rocket disclosed a Form 12b-25, notifying investors of a brief delay in its quarterly filing, which can create uncertainty even if the delay is administrative. Rocket Companies Explains Brief Quarterly Filing Delay

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.