Rocket Companies (NYSE:RKT) Sees Large Volume Increase After Analyst Upgrade

Rocket Companies, Inc. (NYSE:RKT) shares saw unusually-high trading volume on Friday after Wall Street Zen upgraded the stock from a sell rating to a hold rating. Approximately 36,299,355 shares traded hands during trading, an increase of 139% from the previous session’s volume of 15,184,461 shares.The stock last traded at $18.26 and had previously closed at $18.37.

RKT has been the topic of several other research reports. The Goldman Sachs Group upped their price objective on shares of Rocket Companies from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Wednesday, July 2nd. UBS Group set a $16.00 price objective on shares of Rocket Companies and gave the stock a “neutral” rating in a report on Tuesday, August 5th. Zacks Research downgraded shares of Rocket Companies from a “hold” rating to a “strong sell” rating in a report on Monday, September 29th. Morgan Stanley upped their target price on shares of Rocket Companies from $16.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Monday, September 29th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Rocket Companies in a research note on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Rocket Companies presently has an average rating of “Hold” and a consensus target price of $16.65.

Hedge Funds Weigh In On Rocket Companies

Institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its position 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 valued at $14,042,000 after buying an additional 694,779 shares during the period. Lincoln Capital Corp grew its position in Rocket Companies by 304.1% during the second quarter. Lincoln Capital Corp now owns 270,614 shares of the company’s stock valued at $3,837,000 after buying an additional 203,639 shares during the period. Woodline Partners LP bought a new position in Rocket Companies during the first quarter valued at about $5,381,000. Charles Schwab Investment Management Inc. grew its position 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 valued at $15,285,000 after buying an additional 103,156 shares during the period. Finally, Kestra Private Wealth Services LLC bought a new position in Rocket Companies during the first quarter valued at about $310,000. Institutional investors own 4.59% of the company’s stock.

Rocket Companies Stock Performance

The company has a market cap of $37.42 billion, a P/E ratio of -355.60 and a beta of 2.23. The company’s 50-day moving average is $18.66 and its two-hundred day moving average is $15.14. 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 (NYSE:RKT) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.01. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.28 billion. Rocket Companies had a negative net margin of 0.01% and a positive return on equity of 3.18%. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.06 earnings per share. Rocket Companies has set its Q3 2025 guidance at EPS. Equities analysts predict that Rocket Companies, Inc. will post 0.15 EPS for the current year.

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.