Citizens Jmp Initiates Coverage on Rocket Companies (NYSE:RKT)

Equities researchers at Citizens Jmp started coverage on shares of Rocket Companies (NYSE:RKT) in a research report issued on Wednesday, Marketbeat reports. The brokerage set a “market perform” rating on the stock.

Several other equities analysts have also recently commented on RKT. Barclays set a $22.00 target price on Rocket Companies and gave the company an “equal weight” rating in a research note on Tuesday, January 6th. Jefferies Financial Group began coverage on shares of Rocket Companies in a research report on Friday, December 19th. They set a “buy” rating and a $25.00 price target on the stock. JPMorgan Chase & Co. initiated coverage on Rocket Companies in a research note on Monday, January 12th. They issued a “neutral” rating and a $24.00 price target for the company. Compass Point initiated coverage on Rocket Companies in a report on Tuesday, March 10th. They issued a “buy” rating and a $21.00 price objective for the company. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Rocket Companies in a research note on Monday, December 29th. Seven equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $20.80.

Rocket Companies Price Performance

RKT opened at $13.95 on Wednesday. Rocket Companies has a twelve month low of $10.94 and a twelve month high of $24.36. The firm has a market cap of $39.33 billion, a price-to-earnings ratio of -107.28 and a beta of 2.30. The company has a current ratio of 70.90, a quick ratio of 70.90 and a debt-to-equity ratio of 1.07. The company has a fifty day simple moving average of $17.80 and a 200 day simple moving average of $18.47.

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

Insider Buying and Selling at Rocket Companies

In other news, Director Matthew Rizik sold 2,500 shares of the firm’s stock in a transaction dated 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 directly owned 1,038,536 shares in the company, valued at approximately $23,875,942.64. This trade represents a 0.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold 10,000 shares of company stock worth $215,700 over the last 90 days. 92.64% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rocket Companies

Institutional investors have recently modified their holdings of the business. Cloud Capital Management LLC bought a new position in Rocket Companies in the third quarter worth about $25,000. Truvestments Capital LLC acquired a new stake in shares of Rocket Companies during the 4th quarter worth approximately $26,000. Acumen Wealth Advisors LLC acquired a new stake in shares of Rocket Companies during the 4th quarter worth approximately $26,000. Pinnacle Bancorp Inc. lifted its holdings in shares of Rocket Companies by 369.7% in the 4th quarter. Pinnacle Bancorp Inc. now owns 1,503 shares of the company’s stock worth $29,000 after purchasing an additional 1,183 shares during the last quarter. Finally, City State Bank bought a new stake in shares of Rocket Companies in the 4th quarter worth approximately $30,000. Institutional investors own 4.59% of the company’s stock.

Key Rocket Companies News

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

• Positive Sentiment: Mad Money host Jim Cramer said RKT “represents value,” offering a high-profile endorsement that can support investor interest and buying demand. Jim Cramer on Rocket Companies: “I Think It Represents Value”
• Positive Sentiment: Longer-term bullish research pieces argue RKT has upside among large-caps under $30 and note that some analysts still see meaningful upside, supporting the case for accumulation by value-oriented investors. Rocket Companies (RKT) is One of the Best Large Caps Under $30, Here is Why
• Neutral Sentiment: Valuation/coverage pieces are mixed — some ask whether the post-pullback price is justified and present both upside and downside scenarios, which can keep trading range-bound as investors weigh recovery vs. macro risk. Is Rocket Companies (RKT) Price Justified After Recent Share Pullback?
• Neutral Sentiment: Citizens (JMP) initiated coverage with a Market Perform rating — a neutral signal that may limit near-term analyst-driven buying. Citizens Initiates Coverage of Rocket Companies (RKT) with Market Perform Recommendation
• Negative Sentiment: Redfin (powered by Rocket) reports pending home sales fell 1% y/y and mortgage rates have climbed to a ~3-month high (~6.22%), deterring buyers — a direct headwind to Rocket’s mortgage origination volumes and revenue. Market Jitters Drive Mortgage Rates Up, Sending Some Would-Be Homebuyers to the Sidelines
• Negative Sentiment: Reports show a record share of U.S. home sale agreements fell through in February, increasing cancellations — this reduces closings and pressures Rocket’s revenue, margins and growth expectations tied to transaction volumes. Record Home Cancellations Test Rocket Companies Volumes Margins And Growth Expectations
• Negative Sentiment: Opinion pieces listing reasons to avoid RKT add to negative sentiment and can amplify selling pressure among cautious retail investors. 3 Reasons to Avoid RKT and 1 Stock to Buy Instead

About Rocket Companies

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.