Rocket Companies, Inc. (RKT) – What Are Investment Firms Thinking About This Stock?

Rocket Companies, Inc. (NYSE:RKT – Get Free Report) has been given a consensus rating of “Moderate Buy” by the fifteen brokerages that are covering the firm, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $18.75.

Several analysts recently commented on RKT shares. Royal Bank Of Canada cut their price objective on shares of Rocket Companies from $16.00 to $14.00 and set a “sector perform” rating on the stock in a research report on Friday, October 30th. Morgan Stanley set a $16.00 target price on shares of Rocket Companies and gave the stock an “overweight” rating in a report on Monday, October 12th. JPMorgan Chase & Co. upped their target price on shares of Rocket Companies from $12.50 to $13.00 and gave the stock a “neutral” rating in a research note on Friday, October 30th. Benchmark cut their price target on shares of Rocket Companies from $21.00 to $19.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Finally, Keefe, Bruyette & Woods cut their price target on shares of Rocket Companies from $20.00 to $19.00 and set an “outperform” rating on the stock in a report on Monday, August 10th.

Check Out Our Latest Stock Analysis on Rocket Companies

Rocket Companies Price Performance

Shares of Rocket Companies stock opened at $14.92 on Thursday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 4.85 and a current ratio of 3.77. Rocket Companies has a 52-week low of $10.18 and a 52-week high of $24.36. The company has a fifty day moving average of $12.38 and a 200-day moving average of $14.63. The stock has a market capitalization of $42.26 billion, a price-to-earnings ratio of 33.17, a price-to-earnings-growth ratio of 4.31 and a beta of 2.27.

Rocket Companies (NYSE:RKT – Get Free Report) last posted its earnings results on Thursday, October 29th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. The company had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.58 billion. Rocket Companies had a net margin of 11.14% and a return on equity of 5.33%. Rocket Companies’s revenue for the quarter was up 37.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.07 earnings per share. Equities research analysts expect that Rocket Companies will post 0.46 EPS for the current year.

Insider Activity at Rocket Companies

In other Rocket Companies news, CEO Jesse Bray sold 225,000 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $13.75, for a total transaction of $3,093,750.00. Following the sale, the chief executive officer owned 7,503,027 shares in the company, valued at approximately $103,166,621.25. This trade represents a 2.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 675,000 shares of company stock valued at $8,780,824. Corporate insiders own 57.68% of the company’s stock.

Hedge Funds Weigh In On Rocket Companies

Several institutional investors have recently bought and sold shares of RKT. Lido Advisors LLC acquired a new position in shares of Rocket Companies in the 3rd quarter valued at $172,000. Vestor Capital LLC lifted its holdings in Rocket Companies by 9.0% during the 3rd quarter. Vestor Capital LLC now owns 8,723 shares of the company’s stock worth $100,000 after buying an additional 723 shares during the last quarter. Kestra Investment Management LLC acquired a new stake in Rocket Companies during the third quarter worth approximately $121,000. AlphaCore Capital LLC increased its position in Rocket Companies by 55.5% during the third quarter. AlphaCore Capital LLC now owns 156,692 shares of the company’s stock worth $1,804,000 after buying an additional 55,901 shares during the period. Finally, Fulcrum Asset Management LLP purchased a new position in Rocket Companies during the 3rd quarter worth $412,000. Institutional investors own 4.59% of the company’s stock.

Rocket Companies Company Profile

(Get Free Report)

Rocket Companies, Inc is a Detroit-based financial technology company that operates a portfolio of consumer finance and real estate businesses. Its platform is designed to simplify the homeownership process through digital applications, automated workflows and online customer support.

The company’s principal business is Rocket Mortgage, a residential mortgage lender and servicer offering home purchase, refinance and home equity products. Its broader portfolio includes Rocket Homes, a real estate services platform; Rocket Money, a personal finance app that helps consumers manage subscriptions, budgets and bills; Rocket Loans, which provides personal loans; and Rocket Pro, which supports mortgage brokers and other partners.

Rocket Companies traces its history to 1985, when Dan Gilbert founded Rock Financial.

Further Reading

Analyst Recommendations for Rocket Companies (NYSE:RKT)

Receive News & Ratings for Rocket Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rocket Companies and related companies with MarketBeat.com's FREE daily email newsletter.