Raymond James increased their price target on Rocket Cos. Inc. (NYSE: RKT) to $24.00 (from $22.00) while keeping their Outperform rating on the stock.
Rocket Companies (NYSE: RKT) said on August 4, 2022, that its second-quarter earnings per share (EPS) came in at $0.05, which was $0.05 less than the average estimate of $0.02 for the period. In addition, the actual revenue for the quarter came in at $1.4 billion, which is lower than the average prediction of $1.54 billion for the quarter.
The company manufactures, assembles, and tests liquid-fueled rockets, missiles, and other defense and aerospace products at U.S., France, and India facilities. The company’s products are used in multiple defenses, aerospace, and commercial applications, including communications, navigation, missile defense, and remote monitoring. The company has received multiple orders for its products from the U.S. government, including contracts for the production of missile propulsion systems for the Department of Defense.