What Technical Indicators Show About Rocket Companies Inc. (NYSE:RKT)?

Rocket Companies Inc. (NYSE:RKT) trading with an addition of $0.19 to $15.44 on Thursday, an upside of 1.25 percent. An average of 3,748,601 shares of common stock have been traded in the last five days. There was a fall of -$0.69 in the past week. The last 20 days have seen an average of 3,763,160 shares traded, while the 50-day average volume stands at 4,649,046.

RKT stock has decreased by -10.61% in the last month. The company shares reached their 1-month lowest point of $15.10 on 10/05/21. With the stock rallying to its 52-week high on 03/02/21, shares of the company touched a low of $15.10 and a high of $41.10 in 52 weeks. In spite of this, the price is down -62.43% from the 52-week high.


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Insider Transactions

192 days have passed since Rocket Companies Inc. (RKT) last reported insider trading activity. Gilbert Daniel B, who is Director, most recently acquired $20,200,000 shares at $24.75 per share on Mar 29. In this transaction, the insider spent $499,950,000. Director, Gilbert Jennifer L., disposed of 20,200,000 shares at a price of $24.75 on Mar 29. The insider now owns more than $499,950,000 worth of shares. Prior to that, Director Rock Holdings Inc. went on to Sale 20,200,000 shares at $24.75 each on Mar 29. An amount of $499,950,000 was transacted.

Valuation Metrics

Rocket Companies Inc. (RKT) has a trailing price-to-earnings (P/E) ratio of 5.18, which compares with the 16.80 for the broader industry and 12.91 for the sector. This means investors are optimistic about the stock’s future prospects. In the last five years, Rocket Companies Inc.’s PE ratio has ranged between 43.67 and 4.919. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.82, the price-to-book (PB) ratio at 3.32, and the price-to-cash flow ratio at 11.52.

The company has a payout ratio of 0.00%. The company’s most recent quarterly dividend payment was $1.11 a share, representing a up of 71.13 from $0.3205 last year.

Further, the company has a long term debt to equity ratio of 4.91 and a total debt to equity ratio of 40.29 for the quarter ending June 29. Rocket Companies Inc.’s EBITDA margin for the year ending June 29 is 66.25%, while its operating margin for the same period stands at 66.00%. Its gross profit as reported stood at $15.74 billion compared to revenue of $15.74 billion.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Rocket Companies Inc.’s return on assets was 1.10%. For the broader industry, ROE averaged 11.10 over the past year.

Earnings Surprise

The analyst consensus anticipated Rocket Companies Inc.’s latest quarter earnings to come in at $0.48 per share, but it turned out to be $0.46, a -4.20% surprise. For the quarter, EBITDA amounted to $1.12 billion. Shareholders own equity worth $1.99 billion.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Rocket Companies Inc. (RKT) price momentum. RSI 9-day as of the close on 06 October was 27.00%, suggesting the stock is oversold, with historical volatility in this time frame at 25.17%.

As of today, RKT’s price is $15.44 -4.27% or -$0.69 from its 5-day moving average. RKT is currently trading -9.20% lower than its 20-day SMA and -13.44% lower than its 100-day SMA. However, the stock’s current price level is -12.76% below the SMA50 and -28.91% below the SMA200.

The stochastic %K and %D were 12.42% and 11.20%, respectively, and the average true range (ATR) was 0.45. With the 14-day stochastic at 11.81% and the average true range at 0.47, the RSI (14) stands at 29.85%. The stock has reached -0.52 on the 9-day MACD Oscillator while the 14-day reading was at -0.82.

Analyst Ratings

Wedbush downgraded Rocket Companies Inc. (NYSE: RKT) to a an Underperform rating in its most recent analyst report. Previously, the stock was rated as a a Neutral.The consensus rating for Rocket Companies Inc. (RKT) among analysts is Hold. According to current brokerage recommendations, 3 brokerage firms advise that investors sell RKT, while 10 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 2 analysts, while 2 others rate it as a “buy”.

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

Analysts predict a range of price targets between $14.00 and $24.00, with a median target of $19.00. Taking a look at these predictions, the average price target given by analysts for Rocket Companies Inc. (RKT) stock is $18.89.

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