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 Trading Up 3.0 %

Shares of NYSE:RKT opened at $10.80 on Friday. Rocket Companies has a 52-week low of $6.27 and a 52-week high of $19.55. The stock has a market cap of $21.28 billion, a price-to-earnings ratio of 8.44, a PEG ratio of 43.71 and a beta of 1.72. The company has a quick ratio of 13.54, a current ratio of 14.97 and a debt-to-equity ratio of 1.46. The business has a 50-day moving average price of $8.57 and a 200-day moving average price of $9.85.

Rocket Companies (NYSE:RKT - Get Rating) last announced its quarterly earnings data on Thursday, August 4th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.05). The firm had revenue of $1.39 billion during the quarter, compared to analysts' expectations of $1.53 billion. Rocket Companies had a return on equity of 19.79% and a net margin of 1.85%. The company's revenue for the quarter was down 47.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.44 earnings per share. Equities analysts predict that Rocket Companies will post 0.05 EPS for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on RKT shares. Wells Fargo & Company upgraded Rocket Companies from an "equal weight" rating to an "overweight" rating and set a $10.00 target price on the stock 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 target price on the stock. 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. Barclays dropped their price target on Rocket Companies to $7.00 in a research report on Tuesday. Finally, Citigroup increased their price target on Rocket Companies to $10.00 in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $10.42.

Insider Activity at Rocket Companies

In related news, CEO Jay Farner purchased 23,700 shares of Rocket Companies stock in a transaction that occurred on Monday, May 16th. The stock was bought at an average cost of $8.43 per share, for a total transaction of $199,791.00. Following the completion of the transaction, the chief executive officer now owns 2,184,007 shares in the company, valued at $18,411,179.01. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders purchased 812,800 shares of company stock worth $6,905,909. 94.01% of the stock is owned by corporate insiders.