Rocket Companies Inc. (NYSE: RKT) is 27.71% higher on its value in year-to-date trading and has touched a low of $5.97 and a high of $13.30 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 $9.14 in the last trading session, with the day’s loss setting it -0.2% off its average median price target of $7.25 for the next 12 months. It is also 10.6% off the consensus price target high of $10.00 offered by 16 analysts, but current levels are -49.0% lower than the price target low of $6.00 for the same period.
Currently trading at $8.94, the stock is 15.07% and 13.69% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.21 million and changing -2.19% at the moment leaves the stock 9.60% off its SMA200. RKT registered -25.51% loss for a year compared to 6-month loss of -6.49%.
The stock witnessed a 18.57% gain in the last 1 month and extending the period to 3 months gives it a 41.46%, and is 7.19% up 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 4.15% over the week and 4.59% over the month.
Rocket Companies Inc. (RKT) has around 26000 employees, a market worth around $17.14B and $8.14B in sales. Current P/E ratio is 8.56 and Fwd P/E is 372.50. Profit margin for the company is 1.40%. Distance from 52-week low is 49.75% and -32.77% from its 52-week high. The company has generated returns on investments over the last 12 months (33.70%).
Rocket Companies Inc. (RKT) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Rocket Companies Inc. (RKT) is a “Hold”. 16 analysts offering their recommendations for the stock have an average rating of 3.20, where 11 rate it as a Hold and 0 think it is a “Overweight”. 1 of the analysts rate the stock as a “Buy”. 3 analysts have rated the stock as a Sell or Underperform.
Rocket Companies Inc. is expected to release its quarterly report on 05/03/2023.The EPS is expected to grow by 31.70% this year.
Rocket Companies Inc. (RKT) Top Institutional Holders
The shares outstanding are 115.37M, and float is at 114.09M with Short Float at 31.77%.
Rocket Companies Inc. (RKT) Insider Activity
A total of 218 insider transactions have happened at Rocket Companies Inc. (RKT) in the last six months, with sales accounting for 2 and purchases happening 216 times. The most recent transaction is an insider purchase by Rizik Matthew,the company’sDirector. SEC filings show that Rizik Matthew bought 2,000 shares of the company’s common stock on Dec 27 at a price of $6.95 per share for a total of $13900.0. Following the purchase, the insider now owns 0.57 million shares.
Rocket Companies Inc. disclosed in a document filed with the SEC on Dec 23 that Rizik Matthew (Director) bought a total of 2,900 shares of the company’s common stock. The trade occurred on Dec 23 and was made at $7.30 per share for $21170.0. Following the transaction, the insider now directly holds 0.57 million shares of the RKT stock.
Still, SEC filings show that on Dec 22, Rizik Matthew (Director) acquired 3,000 shares at an average price of $7.31 for $21930.0. The insider now directly holds 566,602 shares of Rocket Companies Inc. (RKT).
Rocket Companies Inc. (RKT): Who are the competitors?
The company’s main competitors (and peers) include UWM Holdings Corporation (UWMC) that is trading -17.58% down over the past 12 months and MGIC Investment Corporation (MTG) that is -8.52% lower over the same period. Radian Group Inc. (RDN) is -4.42% down on the 1-year trading charts.