Opinions
The Panic-Proof Portfolio (Stockchase Research)
Rocket Companies, Inc.
RKT-N
TOP PICK
Oct 13, 2020
Stockchase Research Editor: Michael O'Reilly If you are looking for an up and coming market disrupting company, RKT could be it. The company provides an online way to help clients apply for mortgages, execute contracts, handle monthly payments and provide real-time mortgage quotes. The company just announced a partnership with a major online realty search company. Earnings are up over 200% from a year ago, for the company that just went public in August. Loan originations were up over 125%. We would trade this with a stop-loss at $20. Yield 0% (Analysts’ price target is $27.75)
$23.580
Stock price when the opinion was issued
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Well-positioned. Looking at packaging/container board names, the bottom of the box usually has Rock Tenn imprinted on the bottom. When you look at container board price hikes, and increases in container board packaging, this one has pricing power. Price hikes they have implemented in the last 12 months are driving free cash flow. That free cash flow is driving the stock price. Has a long way to go.
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