Rocket Companies Inc. (NYSE: RKT) is 16.84% higher on its value in year-to-date trading and has touched a low of $16.73 and a high of $41.10 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The RKT stock was last observed hovering at around $22.65 in the last trading session, with the day’s loss setting it -0.07% off its average median price target of $24.00 for the next 12 months. It is also 31.58% off the consensus price target high of $33.00 offered by 15 analysts, but current levels are -25.44% lower than the price target low of $18.00 for the same period.
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Currently trading at $22.58, the stock is -5.21% and 0.34% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 6.6 million and changing -0.31% at the moment leaves the stock 6.20% off its SMA200. RKT registered a gain of 4.72% in past 6-months. The firm has a 50-day simple moving average (SMA 50) of $23.80 and a 200-day simple moving average (SMA200) of $21.66.
The stock witnessed a -8.62% loss in the last 1 month and extending the period to 3 months gives it a 18.78%, and is -2.67% 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 4.12% over the week and 6.93% over the month.
Rocket Companies Inc. (RKT) has around 20000 employees, a market worth around $45.88B and $15.98B in sales. Current P/E ratio is 15.02 and Fwd P/E is 12.59. Profit margin for the company is 1.20%. Distance from 52-week low is 35.00% and -45.06% from its 52-week high. The company has generated returns on investments over the last 12 months (38.10%).
Rocket Companies Inc. (RKT) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Rocket Companies Inc. (RKT) is a “Hold”. 15 analysts offering their recommendations for the stock have an average rating of 2.70, where 9 rate it as a Hold and 0 think it is a “Overweight”. 4 of the analysts rate the stock as a “Buy”. 2 analysts have rated the stock as a Sell or Underperform.
Rocket Companies Inc. is expected to release its quarterly report on 09/08/2021 and quarterly earnings per share for the current quarter are estimated at $0.89 with sales reaching $3.98B over the same period.The EPS is expected to shrink by -39.40% this year, but quarterly earnings will post -24.30% year-over-year.
Rocket Companies Inc. (RKT) Top Institutional Holders
319 institutions hold shares in Rocket Companies Inc. (RKT), with 2.23M shares held by insiders accounting for 1.93% while institutional investors hold 75.66% of the company’s shares. The shares outstanding are 115.37M, and float is at 113.14M with Short Float at 18.96%. Institutions hold 74.20% of the Float.
The top institutional shareholder in the company is Invesco Ltd. with over 10.69 million shares valued at $216.21 million. The investor’s holdings represent 9.27% of the RKT Shares outstanding. As of Dec 30, 2020, the second largest holder is Caledonia (Private) Investments Pty Ltd with 9.55 million shares valued at $193.08 million to account for 8.28% of the shares outstanding. The other top investors are Blackrock Inc. which holds 8.08 million shares representing 7.00% and valued at over $163.35 million, while Vanguard Group, Inc. (The) holds 5.50% of the shares totaling 6.34 million with a market value of $128.26 million.
Rocket Companies Inc. (RKT) Insider Activity
A total of 10 insider transactions have happened at Rocket Companies Inc. (RKT) in the last six months, with sales accounting for 6 and purchases happening 4 times. The most recent transaction is an insider sale by Gilbert Daniel B ,the company’sDirector. SEC filings show that Gilbert Daniel B sold 20,200,000 shares of the company’s common stock on Mar 29 at a price of $24.75 per share for a total of $499.95 million. Following the sale, the insider now owns 0.0 shares.
Rocket Companies Inc. disclosed in a document filed with the SEC on Mar 29 that Gilbert Jennifer L. (Director) sold a total of 20,200,000 shares of the company’s common stock. The trade occurred on Mar 29 and was made at $24.75 per share for $499.95 million. Following the transaction, the insider now directly holds 0.0 shares of the RKT stock.
Still, SEC filings show that on Mar 29, Rock Holdings Inc. (Director) disposed off 20,200,000 shares at an average price of $24.75 for $499.95 million. The insider now directly holds 0 shares of Rocket Companies Inc. (RKT).