What Analysts Say about the Rocket Companies Inc. (RKT) Stock

Rocket Companies Inc. (NYSE:RKT) saw a downside of -3.78% to close Monday at $15.26 after subtracting -$0.6 on the day. The 5-day average trading volume is 4,394,980 shares of the company’s common stock. It has gained $16.91 in the past week. An average of 3,984,685 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 4,648,786.

RKT’s 1-month performance is -11.84% or -$1.83 on its low of $15.10 reached on 10/04/21. The company’s shares have touched a 52-week low of $15.79 and high of $41.10, with the stock’s rally to the 52-week high happening on 03/02/21. YTD, RKT has lost -21.04% or -$4.96. However, the current price is down -62.87%% from the 52-week high price.


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Insider Transactions

On Mar 29, 190 days have gone by since the last insider trading activity for Rocket Companies Inc. (RKT). Gilbert Daniel B (Director) most recently sold 20,200,000 shares at $24.75 per share on Mar 29. This transaction cost the insider $499,950,000. Director, Gilbert Jennifer L., sold 20,200,000 shares at a price of $24.75 on Mar 29. Then, on Mar 29, Director Rock Holdings Inc. sold 20,200,000 shares at a price of $24.75 per share. This transaction amounted to $499,950,000.

Valuation Metrics

The company’s PE ratio for the last five years has touched a high of 43.67 and a low of 4.923. RKT stock has a beta of 0.00. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.82 while the price-to-book (PB) in the most recent quarter is 3.32, with the price to cash flow ratio at 11.53.

As well, the company’s long term debt to equity for the quarter ending June 29 was 4.91, while the total debt to equity was 40.29The trailing 12-month EBITDA margin is 66.25% while for the period ending June 29; Rocket Companies Inc.’s operating margin was 66.00%. The firm’s gross profit as reported stood at $15.74 billion against revenue of $15.74 billion.

Earnings Surprise

For the quarterly period ending June 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Analysts expected RKT to announce $0.48 per share in earnings in its latest quarter, but it posted $0.46, representing a -4.20% surprise. EBITDA for the quarter stood at more than $1.12 billion. RKT stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 27.43 billion, with total debt at $25.56 billion. Shareholders hold equity totaling $1.99 billion

Technical Picture

Let’s look briefly at Rocket Companies Inc. (RKT) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 04 October was 16.16% to suggest the stock is trending oversold, with historical volatility in this time period at 26.15%.

The stock’s 5-day moving average is $15.98, reflecting a -10.18% or -$1.73 change from its current price. RKT is currently trading -10.71% above its 20-day SMA, -8.51% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 and SMA200 by -12.00% and -31.84% respectively.

Stochastic %K and %D was 9.05% and 11.08% and the average true range (ATR) pointed at 0.46. The RSI (14) points at 23.69%, while the 14-day stochastic is at 7.41% with the period’s ATR at 0.47. The stock’s 9-day MACD Oscillator is pointing at -0.66 and -0.77 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Rocket Companies Inc. (NYSE: RKT), Wedbush downgraded it to an Underperform rating. They previously had a Neutral rating on the stock. Analysts offering their rating for RKT stock have a consensus rating for the stock as Hold. Currently, 3 brokerage advisors rate RKT as a “sell,”, while 10 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 2 rates the stock as overweight while 2 have offered a “buy” rating.

What is RKT’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $14.00 and a high of $24.00, with their median price target at $19.00. Looking at these predictions, the average price target given by analysts is for Rocket Companies Inc. (RKT) stock is $18.89.

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