Rocket Companies Inc. (NYSE:RKT) saw an upside of 3.58% to close Monday at $11.58 after adding $0.4 on the day. The 5-day average trading volume is 3,260,840 shares of the company’s common stock. It has gained $11.68 in the past week and touched a new high 3 times within the past 5 days. An average of 2,511,665 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 2,072,336.
RKT’s 1-month performance is 30.70% or $2.72 on its low of $8.83 reached on 07/10/23. The company’s shares have touched a 52-week low of $5.97 and high of $11.54, with the stock’s rally to the 52-week high happening on 08/07/23. YTD, RKT has achieved 65.43% or $4.58 and has reached a new high 17 times. However, the current price is up 0.35% from the 52-week high price.
Valuation Metrics
RKT stock has a beta of 2.11. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 5.19 while the price-to-book (PB) in the most recent quarter is 2.51, with the price to cash flow ratio at 1.93.
As well, the company’s long term debt to equity for the quarter ending June 29 was 7.05, while the total debt to equity was 19.71. The trailing 12-month EBITDA margin is 30.03% while for the period ending June 29, Rocket Companies Inc.’s operating margin was 31.60%. The firm’s gross profit as reported stood at $5.1 billion against revenue of $5.84 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Analysts expected RKT to announce -$0.04 per share in earnings in its latest quarter, but it posted -$0.02, representing a 50.00% surprise. EBITDA for the quarter stood at more than -$346.97 million. RKT stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 13.09 billion, with total debt at $11.22 billion. Shareholders hold equity totaling $1.98 billion.
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 07 August was 70.88% to suggest the stock is trending Overbought, with historical volatility in this time period at 61.05%.
The stock’s 5-day moving average is $10.77, reflecting a +5.95% or $0.65 change from its current price. RKT is currently trading +24.12% above its 20-day SMA, +36.88% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +47.70% and SMA200 by+66.62%.
Stochastic %K and %D was 60.26% and 41.90% and the average true range (ATR) pointed at 0.57. The RSI (14) points at 68.56%, while the 14-day stochastic is at 94.33% with the period’s ATR at 0.51. The stock’s 9-day MACD Oscillator is pointing at 0.24 and 0.31 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Rocket Companies Inc. (NYSE: RKT), Keefe Bruyette upgraded it to a Mkt perform rating. They previously had an Underperform rating on the stock. Analysts offering their rating for RKT stock have a consensus rating for the stock as Hold. Currently, 1 brokerage advisors rate RKT as a “sell,”, while 11 advise that investors “Hold.” 2 analysts have rated the stock as underweight. 0 rates the stock as overweight while 1 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 $6.00 and a high of $12.00, with their median price target at $10.00. Looking at these predictions, the average price target given by analysts is for Rocket Companies Inc. (RKT) stock is $9.58.
