Rocket Companies completes purchase of Mr. Cooper
Written by Emily J. Thompson, Senior Investment Analyst
Acquisition Announcement: Rocket Companies (RKT) has completed the acquisition of Mr. Cooper Group (COOP), merging the largest home loan originator with the largest mortgage servicer in the U.S.
Rebranding and Portfolio: Following the acquisition, Mr. Cooper and its servicing functions will be rebranded under the Rocket name, resulting in a combined servicing portfolio of nearly 10 million homeowners.
Analyst Views on RKT
Wall Street analysts forecast RKT stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for RKT is 13.83 USD with a low forecast of 12.00 USD and a high forecast of 17.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
7 Analyst Rating
0 Buy
7 Hold
0 Sell
Hold
Current: 23.440
Low
12.00
Averages
13.83
High
17.00
Current: 23.440
Low
12.00
Averages
13.83
High
17.00
About RKT
Rocket Companies, Inc. is a fintech platform including mortgage, real estate and personal finance businesses: Rocket Mortgage, Redfin, Mr. Cooper, Rocket Homes, Rocket Close, Rocket Money, and Rocket Loans. The Company's full suite of products empowers its clients across financial wellness, personal loans, home search, mortgage finance, title and closing. Through these businesses, it delivers client solutions leveraging its Rocket platform. It operates in two segments: Direct to Consumer and Partner Network. In the Direct to Consumer segment, clients have the ability to interact with Rocket Mortgage digitally and/or with the Company's mortgage bankers. It provides client service and leverages its brand to strengthen its wholesale relationships, through Rocket Pro, as well as enterprise partnerships, both driving growth in its Partner Network segment. The Company's capabilities span the entirety of homeownership, such as home search, financing, title, closing and servicing.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
