The stock of Rocket Companies Inc. (NYSE:RKT) decreased by -$0.44 on Tuesday to finish at $10.89, down -3.88 percent. The last five days have seen an average of 2,084,400 shares of common stock traded. 19 times new highs were reached in the current year, with a gain of $3.89. The average number of shares traded over the last 20 days was 2,501,240, while the average volume over the last 50 days totaled 2,110,332.
RKT stock appreciated 7.08% since last month. On 08/03/23, the company’s shares reached a one-month low of $10.00. The stock touched a high of $11.94 on 08/10/23, after rallying from a low of $5.97 in 52 weeks. The price of RKT stock has risen by 55.57% or $3.89 this year, reaching a new high 19 times. Still, the stock price is down -8.83% from the 52-week high.
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Insider Transactions
RKT stock investors should be aware that Rocket Companies Inc. (RKT) stock had its last reported insider trading activity 232 days ago on Dec 27. On Dec 27, Director Rizik Matthew acquired 2,000 shares at $6.95 each. This transaction resulted in the insider spending $13,900. On Dec 23, Rizik Matthew added 2,900 shares at a price of US$7.30. After the transaction, the insider now owns 569,502 shares. Director Rizik Matthew had earlier bought 3,000 shares on Dec 22 for $7.31 a share. The transaction was completed for $21,930.
Valuation Metrics
Beta for the stock is 2.11. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 5.66, the price-to-book (PB) ratio of 2.34, and the price-to-cash flow ratio of 8.49.
Company paid $1.01 per share in dividends, a decrease of -9.01% from $1.11 last year.
Financial Health
The company’s long-term debt to equity ratio for the quarter ending June 29 is 6.88, and the total debt to equity ratio is 18.27. Rocket Companies Inc.’s EBITDA margin for the year ended June 29 was 30.03%, whereas its operating margin stood at -5.90% for the same period. Based on annual data, it had gross profit of $5.1 billion and revenue of $5.84 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. RKT’s return on assets (ROA) during the last 12 months has been -0.10%. There was a 11.60% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -3.80%.
Earnings Surprise
According to Rocket Companies Inc.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. It was predicted that Rocket Companies Inc.’s quarterly earnings would be -$0.02, but it ended up being -$0.04. EBITDA was $202.06 million for the quarter. At the end of Rocket Companies Inc.’s most recent quarter ended June 29, its liabilities totaled 12.49 billion, while its total debt was $11.22 billion. Equity owned by shareholders amounts to $1.98 billion.
Technical Picture
Here’s a quick look at Rocket Companies Inc.’s (RKT) price momentum from a technical perspective. As of 15 August, the RSI 9-day stood at 48.42%, suggesting the stock is Neutral, with a 64.51% historical volatility rate.
The stochastic %K and %D were 67.18% and 79.58% respectively, while the average true range (ATR) was 0.49. Based on the 14-day stochastic reading of 45.76%, the RSI (14) reading is 53.31%. On the 9-day MACD Oscillator, the stock is at 0.03, and the 14-day reading is at 0.26.
Analyst Ratings
In its most recent analyst report, Keefe Bruyette raised its rating on Rocket Companies Inc. (NYSE: RKT) to a Mkt perform. Prior to this, analysts firm rated the stock as an Underperform. Analysts have assigned Rocket Companies Inc. (RKT) an Hold rating. RKT is a stock that is recommended for selling by 1 brokerage firm, while 11 companies recommend holding. The stock is underweighted by 2 analysts. Among the analysts who rate the stock, 0 rates it overweight and 1 other recommend it as a buy.
What is RKT’s price target for the next 12 months?
The current consensus forecast for the stock is between $6.00 and $12.00, with a median target price of $10.00. In analyzing these forecasts, the average price target given by analysts for Rocket Companies Inc. (RKT) is $9.92.
