Rocket Companies Inc. [NYSE: RKT] stock went on a downward path that fall over -4.84% on Friday, amounting to a one-week price decrease of less than -19.42%. The company report on May 8, 2021 that RKT ALERT – Shareholder Rights Firm Labaton Sucharow is Investigating Rocket Companies, Inc. (NYSE: RKT) For Potential Securities Violations and Breach of Fiduciary Duty.
Labaton Sucharow, a nationally ranked and award-winning shareholder rights firm, is investigating potential securities violations and breach of fiduciary duty claims against Detroit-based real estate mortgage company Rocket Companies, Inc. (NYSE:RKT).
Rocket Cos. tumbled 11% on May 5, 2021, after hours, after it reported closed loan origination volume fell quarter-over-quarter and it forecast a further decline in the second quarter.
The one-year Rocket Companies Inc. stock forecast points to a potential upside of 26.91. The average equity rating for RKT stock is currently 2.80, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $36.62 billion, with 115.37 million shares outstanding and 113.14 million shares in the current float. Compared to the average trading volume of 23.20M shares, RKT stock reached a trading volume of 26506080 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 $24.75 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 2.80. 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.
BofA Securities have made an estimate for Rocket Companies Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on April 21, 2021. The new note on the price target was released on March 03, 2021, representing the official price target for Rocket Companies Inc. stock. Previously, the target price had yet another raise to $20, while JP Morgan analysts kept a Underweight rating on RKT stock.
The Average True Range (ATR) for Rocket Companies Inc. is set at 1.03, with the Price to Sales ratio for RKT stock in the period of the last 12 months amounting to 2.29. The Price to Book ratio for the last quarter was 4.76, with the Price to Cash per share for the same quarter was set at 0.97.
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 -19.42. With this latest performance, RKT shares dropped by -19.85% in over the last four-week period, additionally sinking by -8.21% over the last 6 months.
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 26.32, with the RSI for the last a single of trading hit 17.18, and the three-weeks RSI is set at 33.58 for Rocket Companies Inc. [RKT]. The present Moving Average for the last 50 days of trading for this stock 23.54, while it was recorded at 20.98 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 +65.76 and a Gross Margin at +99.51. Rocket Companies Inc.’s Net Margin is presently recorded at +1.31.
Return on Total Capital for RKT is now 36.63, given the latest momentum, and Return on Invested Capital for the company is 0.98. Return on Equity for this stock inclined to 10.46, with Return on Assets sitting at 0.69. When it comes to the capital structure of this company, Rocket Companies Inc. [RKT] has a Total Debt to Total Equity ratio set at 5,599.09. Additionally, RKT Total Debt to Total Capital is recorded at 98.25, with Total Debt to Total Assets ending up at 73.17. Long-Term Debt to Equity for the company is recorded at 4,409.28, with the Long-Term Debt to Total Capital now at 77.37.
Receivables Turnover for the company is 32.15 with a Total Asset Turnover recorded at a value of 0.53.
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 43.66%.
Rocket Companies Inc. [RKT] Insider Position Details
There are presently around $1,557 million, or 63.80% of RKT stock, in the hands of institutional investors. The top three institutional holders of RKT stocks are: INVESCO LTD. with ownership of 10,692,985, which is approximately -0.603% of the company’s market cap and around 1.64% of the total institutional ownership; CALEDONIA (PRIVATE) INVESTMENTS PTY LTD, holding 9,548,827 shares of the stock with an approximate value of $181.52 million in RKT stocks shares; and VANGUARD GROUP INC, currently with $120.58 million in RKT stock with ownership of nearly 16.2% of the company’s market capitalization.
Positions in Rocket Companies Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 170 institutional holders increased their position in Rocket Companies Inc. [NYSE:RKT] by around 20,911,289 shares. Additionally, 107 investors decreased positions by around 23,792,248 shares, while 20 investors held positions by with 37,225,984 shares. The mentioned changes placed institutional holdings at 81,929,521 shares, according to the latest SEC report filing. RKT stock had 84 new institutional investments in for a total of 8,670,756 shares, while 54 institutional investors sold positions of 6,807,614 shares during the same period.