Is Rocket Companies Inc. (RKT) a good stock to buy now?

Rocket Companies Inc. (NYSE: RKT) is -2.47% lower on its value in year-to-date trading and has touched a low of $17.50 and a high of $34.42 in the current 52-week trading range. The RKT stock was last observed hovering at around $19.35 in the last trading session, with the day’s gains setting it 0.37% off its average median price target of $24.00 for the next 12 months. It is also 43.66% off the consensus price target high of $35.00 offered by 15 analysts, but current levels are -3.79% lower than the price target low of $19.00 for the same period.

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Currently trading at $19.72, the stock is -6.39% and -4.89% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 8.76 million and changing 1.91% at the moment leaves the stock -9.88% off its SMA200. The firm has a 50-day simple moving average (SMA 50) of $20.82 and a 200-day simple moving average (SMA200) of $21.88.

The stock witnessed a 0.10% In the last 1 month and extending the period to 3 months gives it a -9.12%, and is -6.81% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.73% over the week and 3.76% over the month.

Rocket Companies Inc. (RKT) has around 20000 employees, a market worth around $40.95B and $12.61B in sales. Current P/E ratio is 252.82 and Fwd P/E is 10.73. Profit margin for the company is 1.20%. Distance from 52-week low is 12.69% and -42.71% from its 52-week high. The company has generated returns on investments over the last 12 months (7.90%).

Rocket Companies Inc. (RKT) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Rocket Companies Inc. (RKT) is a “Overweight”. 15 analysts offering their recommendations for the stock have an average rating of 2.40, where 8 rate it as a Hold and 0 think it is a “Overweight”. 6 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.

Rocket Companies Inc. is expected to release its quarterly report on 06/02/2021 and quarterly earnings per share for the current quarter are estimated at $0.87 with sales reaching $3.92B over the same period.The EPS is expected to grow by 45.80% this year.

Rocket Companies Inc. (RKT) Top Institutional Holders

245 institutions hold shares in Rocket Companies Inc. (RKT), with 1.86M shares held by insiders accounting for 1.61% while institutional investors hold 70.00% of the company’s shares. The shares outstanding are 115.37M, and float is at 113.52M with Short Float at 32.34%. Institutions hold 68.88% of the Float.

The top institutional shareholder in the company is Invesco Ltd. with over 10.76 million shares valued at $214.4 million. The investor’s holdings represent 9.32% of the RKT Shares outstanding. As of Sep 29, 2020, the second largest holder is Caledonia (Private) Investments Pty Ltd with 9.51 million shares valued at $189.5 million to account for 8.24% of the shares outstanding. The other top investors are Vanguard Group, Inc. (The) which holds 5.46 million shares representing 4.73% and valued at over $108.79 million, while JP Morgan Chase & Company holds 4.64% of the shares totaling 5.35 million with a market value of $106.68 million.

Rocket Companies Inc. (RKT) Insider Activity

A total of 18 insider transactions have happened at Rocket Companies Inc. (RKT) in the last six months, with sales accounting for 1 and purchases happening 17 times.

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