Rocket Companies (NYSE:RKT) Lowered to Strong Sell Rating by Zacks Research

Rocket Companies (NYSE:RKT) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Monday,Zacks.com reports.

Several other analysts also recently issued reports on RKT. Keefe, Bruyette & Woods increased their price objective 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, August 5th. UBS Group set a $16.00 price objective on shares of Rocket Companies and gave the company a “neutral” rating in a research report on Tuesday, August 5th. Morgan Stanley increased their target price on Rocket Companies from $16.00 to $18.00 and gave the company an “equal weight” rating in a research note on Monday. BTIG Research upgraded Rocket Companies to a “strong-buy” rating in a research note on Tuesday, August 19th. Finally, The Goldman Sachs Group increased their target price on Rocket Companies from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Wednesday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $16.65.

Rocket Companies Stock Down 3.8%

Shares of NYSE:RKT opened at $19.38 on Monday. The company has a quick ratio of 18.74, a current ratio of 18.74 and a debt-to-equity ratio of 2.36. Rocket Companies has a 52-week low of $10.06 and a 52-week high of $22.56. The company has a 50 day moving average of $18.45 and a two-hundred day moving average of $15.07. The company has a market capitalization of $40.79 billion, a price-to-earnings ratio of -387.60 and a beta of 2.30.

Rocket Companies (NYSE:RKT) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.01. Rocket Companies had a negative net margin of 0.01% and a positive return on equity of 3.18%. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the company earned $0.06 earnings per share. Rocket Companies’s revenue for the quarter was up 4.5% on a year-over-year basis. Rocket Companies has set its Q3 2025 guidance at EPS. As a group, analysts forecast that Rocket Companies will post 0.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rocket Companies

Large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its stake in Rocket Companies by 148.3% during the first quarter. Bank of New York Mellon Corp now owns 1,163,399 shares of the company’s stock worth $14,042,000 after purchasing an additional 694,779 shares during the last quarter. Lincoln Capital Corp lifted its stake in Rocket Companies by 304.1% during the second quarter. Lincoln Capital Corp now owns 270,614 shares of the company’s stock worth $3,837,000 after purchasing an additional 203,639 shares during the last quarter. Woodline Partners LP bought a new position in Rocket Companies during the first quarter worth $5,381,000. Charles Schwab Investment Management Inc. lifted its stake in Rocket Companies by 8.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,266,399 shares of the company’s stock worth $15,285,000 after purchasing an additional 103,156 shares during the last quarter. Finally, Kestra Private Wealth Services LLC bought a new position in Rocket Companies during the first quarter worth $310,000. 4.59% of the stock is currently owned by institutional investors.

Rocket Companies Company Profile

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.