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.

Rocket Companies Stock Performance

Shares of NYSE:RKT traded up $0.24 on Friday, reaching $10.73. 114,199 shares of the company's stock were exchanged, compared to its average volume of 3,135,908. The firm has a market capitalization of $21.14 billion, a price-to-earnings ratio of 8.20, a PEG ratio of 43.25 and a beta of 1.72. Rocket Companies has a fifty-two week low of $6.27 and a fifty-two week high of $19.55. The business's 50-day moving average is $8.53 and its two-hundred day moving average is $9.87. The company has a quick ratio of 13.54, a current ratio of 14.97 and a debt-to-equity ratio of 1.46.

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

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Wells Fargo & Company upgraded shares of Rocket Companies from an "equal weight" rating to an "overweight" rating and set a $10.00 price target for the company in a research note on Wednesday, July 6th. Royal Bank of Canada decreased their price target on shares of Rocket Companies from $18.00 to $9.00 in a research note on Thursday, May 12th. Credit Suisse Group decreased their target price on shares of Rocket Companies to $9.00 and set a "neutral" rating on the stock in a research report on Thursday, May 19th. Keefe, Bruyette & Woods cut shares of Rocket Companies from a "market perform" rating to an "underperform" rating and set a $6.50 price target on the stock. in a research report on Sunday, August 7th. Finally, Barclays reduced their price target on shares of Rocket Companies to $7.00 in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $10.42.

Insider Transactions at Rocket Companies

In other news, CEO Jay Farner purchased 19,800 shares of the stock in a transaction dated Wednesday, August 10th. The stock was acquired at an average price of $10.06 per share, for a total transaction of $199,188.00. Following the completion of the transaction, the chief executive officer now owns 3,568,407 shares of the company's stock, valued at $35,898,174.42. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Over the last quarter, insiders bought 812,800 shares of company stock worth $6,905,909. Insiders own 94.01% of the company's stock.