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Stock of the Day: Rocket Companies

Rocket Companies
RKT 90-day performance NYSE:RKT Rocket Companies
Current Price
$18.04
-0.65 (-3.45%)
(As of 10:58 AM ET)
30 Day Performance
-22.43%
  
  
90 Day Performance
7.39%
  
 
1 Year Performance
37.93%
  
 
Market Capitalization
$37.96B
P/E Ratio
225.72
Price Target
$20.50

Rocket Companies, Inc. is a Detroit-based holding company whose businesses are centered on digital mortgage origination and related consumer finance and real estate services. The company grew out of the Quicken Loans franchise and completed an initial public offering in 2020. Founder Dan Gilbert remains a prominent figure associated with the firm, which operates a suite of brands that aim to simplify the home financing and buying experience through technology and scale.

The company’s core activity is mortgage lending through its Rocket Mortgage platform, which offers online application, underwriting and servicing for home purchase and refinance loans. Products available through its platforms include conventional mortgages as well as government-backed and specialty loan programs, and the company services a portfolio of residential mortgages. In addition to direct-to-consumer lending, Rocket Companies supports brokers and other partners through wholesale and correspondent channels.

Complementary businesses within the corporate family provide title, appraisal and settlement services, real estate brokerage and marketplace capabilities, and consumer lending products. Its title and property-services affiliate handles closings and valuations that support the mortgage process, while its real estate and marketplace brands connect buyers, sellers and agents to streamline transactions. The company emphasizes an integrated, technology-driven approach that links origination, title, servicing and real estate touchpoints.

Headquartered in Detroit, Michigan, Rocket Companies primarily serves customers across the United States and focuses on digital distribution, process automation and consumer-facing tools to reduce friction in home financing and related services. The business strategy centers on capturing multiple stages of the homeownership lifecycle, supported by a centralized technology platform and an executive leadership team led by founder Dan Gilbert.

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