Rocket Companies Inc. (NYSE:RKT) finished Thursday with an addition of $0.31 to close at $11.80, an upside of 2.70 percent. An average of 3,421,620 shares of common stock have been traded in the last five days. There was a gain of $1.68 in the past week, and it reached a new high 5 times over the past 12 months. The last 20 days have seen an average of 2,518,150 shares traded, while the 50-day average volume stands at 2,109,080.
RKT stock has increased by 14.56% in the last month. The company shares reached their 1-month lowest point of $9.31 on 07/11/23. With the stock rallying to its 52-week high on 08/10/23, shares of the company touched a low of $5.97 and a high of $11.73 in 52 weeks. It has reached a new high 19 times so far this year and achieved 68.57% or $4.80 in price. In spite of this, the price is up 0.64% from the 52-week high.
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Valuation Metrics
Rocket Companies Inc. (RKT) stock’s beta is 2.09. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 5.29, the price-to-book (PB) ratio at 2.55, and the price-to-cash flow ratio at 1.97.
Financial Health
Further, the company has a long term debt to equity ratio of 7.05 and a total debt to equity ratio of 19.71 for the quarter ending June 29. Rocket Companies Inc.’s EBITDA margin for the year ending June 29 is 30.03%, while its operating margin for the same period stands at 31.60%. Its gross profit as reported stood at $5.1 billion compared to revenue of $5.84 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 0.20%.
Earnings Surprise
For the three-month period that ended June 29, Rocket Companies Inc. had $4.89 billion in total debt. The analyst consensus anticipated Rocket Companies Inc.’s latest quarter earnings to come in at -$0.04 per share, but it turned out to be -$0.02, a 50.00% surprise. For the quarter, EBITDA amounted to $202.06 million. Shareholders own equity worth $1.98 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 10 August was 71.03%, suggesting the stock is Overbought, with historical volatility in this time frame at 61.43%.
As of today, RKT’s price is $11.48 +16.60% or $1.68 from its 5-day moving average. RKT is currently trading +14.56% higher than its 20-day SMA and +36.26% higher than its 100-day SMA. However, the stock’s current price level is +45.14% above the SMA50 and +86.71% above the SMA200.
The stochastic %K and %D were 86.90% and 86.22%, respectively, and the average true range (ATR) was 0.53. With the 14-day stochastic at 92.55% and the average true range at 0.50, the RSI (14) stands at 68.78%. The stock has reached 0.51 on the 9-day MACD Oscillator while the 14-day reading was at 0.69.
Analyst Ratings
Keefe Bruyette upgraded Rocket Companies Inc. (NYSE: RKT) to a a Mkt perform rating in its most recent analyst report. Previously, the stock was rated as an Underperform. The consensus rating for Rocket Companies Inc. (RKT) among analysts is Hold. According to current brokerage recommendations, 1 brokerage firm advise that investors sell RKT, while 11 suggest investors hold. There are 2 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 1 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 $6.00 and $12.00, with a median target of $10.00. Taking a look at these predictions, the average price target given by analysts for Rocket Companies Inc. (RKT) stock is $9.77.
