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.

Analysts Set New Price Targets

RKT has been the topic of several research analyst reports. Keefe, Bruyette & Woods cut Rocket Companies from a "market perform" rating to an "underperform" rating and set a $6.50 price objective on the stock. in a research note on Sunday. Royal Bank of Canada dropped their price objective on Rocket Companies from $18.00 to $9.00 in a research note on Thursday, May 12th. Credit Suisse Group dropped their price objective on Rocket Companies to $9.00 and set a "neutral" rating on the stock in a research note on Thursday, May 19th. Wedbush dropped their price objective on Rocket Companies to $7.00 and set a "na" rating on the stock in a research note on Tuesday, May 17th. Finally, Barclays dropped their price objective on Rocket Companies to $7.00 in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Rocket Companies has a consensus rating of "Hold" and a consensus price target of $10.42.

Rocket Companies Stock Performance

Shares of NYSE:RKT traded up $0.21 during trading on Tuesday, reaching $9.63. 3,068,189 shares of the company traded hands, compared to its average volume of 4,710,350. The firm's fifty day simple moving average is $8.45 and its 200 day simple moving average is $9.88. The stock has a market cap of $18.97 billion, a P/E ratio of 7.52, a PEG ratio of 4.04 and a beta of 1.72. Rocket Companies has a 12-month low of $6.27 and a 12-month high of $19.55. The company has a current ratio of 14.97, a quick ratio of 13.54 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) earnings per share for the quarter, missing analysts' consensus estimates of $0.02 by ($0.05). The company had revenue of $1.39 billion for the quarter, compared to analysts' expectations of $1.53 billion. Rocket Companies had a net margin of 1.85% and a return on equity of 19.79%. The business's quarterly revenue was down 47.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.44 EPS. As a group, research analysts anticipate that Rocket Companies will post 0.25 earnings per share for the current fiscal year.

Insider Buying and Selling at Rocket Companies

In other Rocket Companies news, CEO Jay Farner purchased 24,300 shares of the business's stock in a transaction that occurred on Friday, May 13th. The stock was purchased at an average price of $8.22 per share, for a total transaction of $199,746.00. Following the purchase, the chief executive officer now directly owns 2,160,307 shares in the company, valued at $17,757,723.54. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders purchased 841,700 shares of company stock worth $7,084,367. Insiders own 94.01% of the company's stock.