Rocket Companies Inc. [RKT] Stock trading around $20.11 per share: What’s Next?

Rocket Companies Inc. [NYSE: RKT] stock went on an upward path that rose over 1.16% on Tuesday, amounting to a one-week price decrease of less than -2.19%. The company report on October 19, 2020 that Rocket Companies Announces Third Quarter 2020 Earnings Date.

Rocket Companies, Inc. (NYSE: RKT) (“Rocket Companies” or the “Company”), a Detroit-based holding company consisting of tech-driven real estate, mortgage and financial services businesses – including Rocket Mortgage, Rocket Homes and Rocket Auto – today announced the Company will issue its third quarter 2020 earnings on November 10, 2020. Management will host a conference call to discuss results at 4:30pm ET on this date, and a press release detailing the Company’s results will be issued prior to the call.

A live webcast of the event will be available online at ir.rocketcompanies.com, or by navigating to event.on24.com/wcc/r/2626269/5F1B472E3145E7954334EDC72BE7AFDA. A replay of the webcast will be available on the Investor Relations site following the conclusion of the event. If you are having issues viewing the webcast, please see the event help guide.

The one-year Rocket Companies Inc. stock forecast points to a potential upside of 25.19. The average equity rating for RKT stock is currently 2.50, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $39.58 billion, with 1.97 billion shares outstanding and 113.53 million shares in the current float. Compared to the average trading volume of 19.62M shares, RKT stock reached a trading volume of 9065861 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Rocket Companies Inc. [RKT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RKT shares is $26.88 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on RKT stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Keefe Bruyette have made an estimate for Rocket Companies Inc. shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on October 12, 2020. The new note on the price target was released on October 09, 2020, representing the official price target for Rocket Companies Inc. stock. Previously, the target price had yet another raise to $20, while Susquehanna analysts kept a Neutral rating on RKT stock.

The Average True Range (ATR) for Rocket Companies Inc. is set at 1.12, with the Price to Sales ratio for RKT stock in the period of the last 12 months amounting to 3.91.

RKT Stock Performance Analysis:

Rocket Companies Inc. [RKT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.19.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for RKT stock in for the last two-week period is set at 36.91, with the RSI for the last a single of trading hit 36.46, and the three-weeks RSI is set at 42.69 for Rocket Companies Inc. [RKT]. The present Moving Average for the last 50 days of trading for this stock 23.15, while it was recorded at 20.16 for the last single week of trading.

Insight into Rocket Companies Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Rocket Companies Inc. [RKT] shares currently have an operating margin of +18.20 and a Gross Margin at +86.29. Rocket Companies Inc.’s Net Margin is presently recorded at +14.38.

Return on Total Capital for RKT is now 6.36, given the latest momentum, and Return on Invested Capital for the company is 5.28. Return on Equity for this stock inclined to 25.00, with Return on Assets sitting at 4.81. When it comes to the capital structure of this company, Rocket Companies Inc. [RKT] has a Total Debt to Total Equity ratio set at 478.61. Additionally, RKT Total Debt to Total Capital is recorded at 82.72, with Total Debt to Total Assets ending up at 79.52. Long-Term Debt to Equity for the company is recorded at 451.64, with the Long-Term Debt to Total Capital now at 78.06.

Receivables Turnover for the company is 18.84 with a Total Asset Turnover recorded at a value of 0.33.

RKT Stock EPS

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for RKT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Rocket Companies Inc. go to 26.03%.

Rocket Companies Inc. [RKT] Insider Position Details

There are presently around $61 million, or 30.10% of RKT stock, in the hands of institutional investors. The top three institutional holders of RKT stocks are: RETIREMENT SYSTEMS OF ALABAMA with ownership of 2,402,200, which is approximately New of the company’s market cap and around 1.60% of the total institutional ownership; TRAYNOR CAPITAL MANAGEMENT, INC., holding 138,307 shares of the stock with an approximate value of $2.78 million in RKT stocks shares; and CUTLER GROUP LP, currently with $2.68 million in RKT stock with ownership of nearly New of the company’s market capitalization.

Positions in Rocket Companies Inc. stocks held by institutional investors increased at the end of September and at the time of the September reporting period, where 26 institutional holders increased their position in Rocket Companies Inc. [NYSE:RKT] by around 3,018,696 shares. Additionally, 0 investors decreased positions by around 0 shares, while 0 investors held positions by with 0 shares. The mentioned changes placed institutional holdings at 3,018,696 shares, according to the latest SEC report filing. RKT stock had 26 new institutional investments in for a total of 3,018,696 shares, while 0 institutional investors sold positions of 0 shares during the same period.

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