Rocket Companies - RKT Stock Forecast, Price & News

Rocket Companies, Inc. engages in the tech-driven real estate, mortgage, and e-Commerce businesses 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; Rocket Auto, an automotive retail marketplace that provides centralized and virtual car sales support to online car purchasing platforms; and Rocket Loans, an online-based personal loans business. It also offer Core Digital Media, a digital social and display advertiser in the mortgage, insurance, and education sectors; Rocket Solar, which connect homeowners with digital financing solutions through a team of trained solar advisors; Truebill, a personal finance app that helps clients manage every aspect of their financial lives; Lendesk, a technology services company that provides a point of sale system for mortgage professionals and a loan origination system for private lenders; and Edison Financial, a digital mortgage broker. In addition, the company originates, closes, sells, and services agency-conforming loans. Rocket Companies, Inc. was founded in 1985 and is headquartered in Detroit, Michigan. Rocket Companies, Inc. operates as a subsidiary of Rock Holdings, Inc.

Analyst Ratings Changes

A number of research firms have weighed in on RKT. Wells Fargo & Company upgraded Rocket Companies from an "equal weight" rating to an "overweight" rating and set a $10.00 price objective for the company in a research note on Wednesday, July 6th. Keefe, Bruyette & Woods lowered Rocket Companies from a "market perform" rating to an "underperform" rating and set a $6.50 price target for the company. in a research note on Sunday, August 7th. Argus lowered Rocket Companies from a "buy" rating to a "hold" rating in a research note on Tuesday, May 31st. Wedbush cut their price target on Rocket Companies to $7.00 and set a "na" rating for the company in a research note on Tuesday, May 17th. Finally, Credit Suisse Group cut their price target on Rocket Companies to $9.00 and set a "neutral" rating for the company in a research note on Thursday, May 19th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $10.42.

Rocket Companies Price Performance

Shares of Rocket Companies stock traded down $0.63 on Friday, hitting $9.82. 29,242 shares of the company were exchanged, compared to its average volume of 3,324,469. The stock has a market capitalization of $19.34 billion, a price-to-earnings ratio of 8.16, a price-to-earnings-growth ratio of 45.29 and a beta of 1.72. The company has a 50-day moving average price of $8.75 and a 200 day moving average price of $9.81. Rocket Companies has a 1-year low of $6.27 and a 1-year high of $18.49. The company has a quick ratio of 14.97, a current ratio of 14.97 and a debt-to-equity ratio of 1.46.

Rocket Companies (NYSE:RKT - Get Rating) last released its quarterly earnings data on Thursday, August 4th. The company reported ($0.03) EPS for the quarter, missing analysts' consensus estimates of $0.02 by ($0.05). Rocket Companies had a net margin of 1.85% and a return on equity of 19.79%. The business had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the prior year, the company posted $0.44 earnings per share. The company's revenue was down 47.8% on a year-over-year basis. As a group, sell-side analysts predict that Rocket Companies will post 0.05 earnings per share for the current fiscal year.

Insider Activity at Rocket Companies

In other news, CEO Jay Farner purchased 22,400 shares of the firm's stock in a transaction on Wednesday, May 25th. The shares were bought at an average cost of $8.93 per share, for a total transaction of $200,032.00. Following the completion of the purchase, the chief executive officer now directly owns 2,342,807 shares of the company's stock, valued at $20,921,266.51. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders have acquired 766,700 shares of company stock worth $6,506,534. Insiders own 94.01% of the company's stock.