Rocket Companies, Inc. (RKT) – What Are Researchers Saying About This Stock?

Rocket Companies, Inc. (NYSE:RKT) has received a consensus rating of “Moderate Buy” from the seventeen analysts that are presently covering the stock, MarketBeat reports. Eight equities research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $19.46.

RKT has been the topic of a number of recent analyst reports. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $16.00 price objective (up from $15.00) on shares of Rocket Companies in a report on Wednesday, August 12th. Wells Fargo & Company set a $13.00 price objective on Rocket Companies and gave the stock an “equal weight” rating in a research report on Tuesday. Weiss Ratings raised Rocket Companies from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday. Keefe, Bruyette & Woods reduced their target price on Rocket Companies from $20.00 to $19.00 and set an “outperform” rating on the stock in a research report on Monday, August 10th. Finally, BTIG Research restated a “neutral” rating on shares of Rocket Companies in a research report on Tuesday, June 16th.

Rocket Companies Trading Down 2.4%

Shares of RKT stock opened at $11.48 on Friday. The company has a current ratio of 4.85, a quick ratio of 4.85 and a debt-to-equity ratio of 1.16. The stock has a market cap of $32.52 billion, a price-to-earnings ratio of 82.02, a PEG ratio of 3.24 and a beta of 2.23. The company’s 50-day moving average price is $13.21 and its 200-day moving average price is $13.95. Rocket Companies has a twelve month low of $10.99 and a twelve month high of $24.36.

Rocket Companies (NYSE:RKT) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.16 earnings per share for the quarter, meeting the consensus estimate of $0.16. The business had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.81 billion. Rocket Companies had a net margin of 4.70% and a return on equity of 5.13%. The business’s revenue for the quarter was up 91.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.04 EPS. As a group, equities analysts predict that Rocket Companies will post 0.51 earnings per share for the current year.

Insiders Place Their Bets

In other Rocket Companies news, Rocket Mortgage CEO Jesse Bray sold 225,000 shares of the stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $13.11, for a total transaction of $2,949,750.00. Following the completion of the transaction, the insider owned 7,953,027 shares of the company’s stock, valued at $104,264,183.97. This trade represents a 2.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 450,000 shares of company stock worth $5,687,074 over the last ninety days. Company insiders own 57.68% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Cassaday & Co Wealth Management LLC acquired a new position in Rocket Companies in the 1st quarter valued at about $34,000. Summit Securities Group LLC acquired a new position in Rocket Companies during the 1st quarter worth approximately $60,000. Hilltop National Bank increased its holdings in Rocket Companies by 44,581.8% in the second quarter. Hilltop National Bank now owns 4,915 shares of the company’s stock valued at $77,000 after buying an additional 4,904 shares during the last quarter. Jessup Wealth Management Inc purchased a new position in shares of Rocket Companies in the 4th quarter valued at about $107,000. Finally, Centaurus Financial Inc. purchased a new position in Rocket Companies in the first quarter valued at approximately $101,000. 4.59% of the stock is currently owned by hedge funds and other institutional investors.

About Rocket Companies

Rocket Companies, Inc is a Detroit-based fintech platform that provides digital financial and real estate services primarily to consumers in the United States. Its operations are centered on helping customers obtain, manage and refinance home loans, while also offering related services across the homeownership and personal finance lifecycle.

The company’s principal businesses include Rocket Mortgage, a digital mortgage lender and originator; Rocket Homes, a real estate marketplace and agent-referral platform; Rocket Money, a personal finance application that helps users manage subscriptions, budgets and bills; and Rocket Loans, which provides personal loans.