Rocket Companies Target of Unusually High Options Trading (NYSE:RKT)

Rocket Companies, Inc. (NYSE:RKT) was the target of unusually large options trading activity on Friday. Stock investors bought 24,662 put options on the stock. This is an increase of approximately 115% compared to the average volume of 11,476 put options.

Analyst Ratings Changes

Several analysts have issued reports on RKT shares. Keefe, Bruyette & Woods upgraded Rocket Companies from an “underperform” rating to a “market perform” rating in a research note on Monday, August 5th. Royal Bank of Canada upped their price target on Rocket Companies from $16.00 to $20.00 and gave the company a “sector perform” rating in a research report on Wednesday, September 11th. JPMorgan Chase & Co. raised their price objective on Rocket Companies from $13.50 to $15.00 and gave the stock an “underweight” rating in a research note on Friday, August 2nd. UBS Group boosted their target price on shares of Rocket Companies from $11.50 to $14.00 and gave the company a “sell” rating in a research note on Monday, September 16th. Finally, Wells Fargo & Company raised their price target on shares of Rocket Companies from $13.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Five analysts have rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $14.16.

Rocket Companies Stock Performance

NYSE:RKT traded down $0.56 during mid-day trading on Friday, hitting $17.51. The stock had a trading volume of 3,021,209 shares, compared to its average volume of 2,783,891. The company has a 50 day simple moving average of $18.83 and a 200-day simple moving average of $15.49. The company has a current ratio of 13.18, a quick ratio of 13.18 and a debt-to-equity ratio of 1.27. The stock has a market capitalization of $34.82 billion, a price-to-earnings ratio of 154.00 and a beta of 2.44. Rocket Companies has a 52 week low of $7.17 and a 52 week high of $21.38.

Rocket Companies (NYSE:RKT) last released its earnings results on Thursday, August 1st. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. The firm had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.22 billion. Rocket Companies had a return on equity of 0.90% and a net margin of 0.29%. Rocket Companies’s revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.05) earnings per share. On average, research analysts expect that Rocket Companies will post 0.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rocket Companies

A number of institutional investors and hedge funds have recently modified their holdings of RKT. Capital Fund Management S.A. boosted its stake in Rocket Companies by 27.8% in the 4th quarter. Capital Fund Management S.A. now owns 502,110 shares of the company’s stock worth $7,271,000 after purchasing an additional 109,278 shares during the period. Swiss National Bank grew its position in Rocket Companies by 4.1% in the first quarter. Swiss National Bank now owns 237,000 shares of the company’s stock worth $3,448,000 after acquiring an additional 9,300 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in Rocket Companies during the first quarter worth $2,698,000. Vanguard Group Inc. lifted its holdings in Rocket Companies by 10.4% in the 4th quarter. Vanguard Group Inc. now owns 11,702,838 shares of the company’s stock worth $169,457,000 after purchasing an additional 1,101,325 shares during the last quarter. Finally, Wedmont Private Capital acquired a new position in Rocket Companies during the first quarter valued at approximately $154,000. Institutional investors and hedge funds own 4.59% of the company’s stock.

Rocket Companies Company Profile

Rocket Companies, Inc, a fintech holding company, provides mortgage lending, title and settlement services, and other financial technology services 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; and Rocket Loans, an online-based personal loans business.