Check out these key findings about Rocket Companies Inc. (RKT)

Rocket Companies Inc. (NYSE: RKT) stock fell -2.19% on Tuesday to $8.94 against a previous-day closing price of $9.14. With 2.21 million shares changed hands, the volume of the stock remained lighter than its average volume of 3.13 million shares. During the session, the Mortgage Finance company that operates in wider Financial sector, reached to the highest price of $9.22 whereas the lowest price it dropped to was $8.91. The 52-week range on RKT shows that it touched its highest point at $13.30 and its lowest point at $5.97 during that stretch. It currently has a 1-year price target of $7.32.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of RKT was up-trending over the past week, with a rise of 7.19%, but this was up by 18.57% over a month. Three-month performance surged to 41.46% while six-month performance fell -6.49%. The stock lost -25.51% in the past year, while it has gained 27.71% so far this year. A look at the trailing 12-month EPS for RKT yields 1.04 with Next year EPS estimates of 0.02. For the next quarter, that number is -0.11. This implies an EPS growth rate of 31.70% for this year and 125.00% for next year.

Float and Shares Shorts:

At present, 115.37 million RKT shares are outstanding with a float of 114.09 million shares on hand for trading. On Oct 13, 2022, short shares totaled 33.4 million, which was 28.92% higher than short shares on Sep 14, 2022. In addition to Mr. Daniel B. Gilbert as the firm’s Founder & Chairman, Mr. Jay D. Farner serves as its Vice Chairman & CEO.


Institutional Ownership:

Through their ownership of 71.63% of RKT’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 7.39% of RKT, in contrast to 30.34% held by mutual funds. Shares owned by individuals account for 29.92%. As the largest shareholder in RKT with 8.16% of the stake, The Vanguard Group, Inc. holds 9,932,251 shares worth 9,932,251. A second-largest stockholder of RKT, Caledonia, holds 9,253,487 shares, controlling over 7.60% of the firm’s shares. Invesco Advisers, Inc. is the third largest shareholder in RKT, holding 7,798,503 shares or 6.40% stake. With a 4.07% stake in RKT, the Invesco Main Street Fund is the largest stakeholder. A total of 4,952,653 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.95% of RKT stock, is the second-largest Mutual Fund holder. It holds 3,586,354 shares valued at 25.1 million. Vanguard Mid Cap Index Fund holds 2.21% of the stake in RKT, owning 2,690,101 shares worth 18.83 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for RKT since 16 analysts follow the stock currently. There are 1 analysts who recommend BUY ratings, while 3 suggest SELL ratings. Of the remaining analysts, 11 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 1 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With RKT analysts setting a high price target of $10.00 and a low target of $6.00, the average target price over the next 12 months is $7.44. Based on these targets, RKT could surge 11.86% to reach the target high and fall by -32.89% to reach the target low. Reaching the average price target will result in a decline of -16.78% from current levels.


EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. RKT will report FY 2022 earnings on 02/23/2024. Analysts have provided yearly estimates in a range of -$0.02 being high and -$0.13 being low. For RKT, this leads to a yearly average estimate of -$0.08. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Rocket Companies Inc. surprised analysts by -$0.05 when it reported -$0.08 EPS against a consensus estimate of -$0.03. The surprise factor in the prior quarter was -$0.05. Based on analyst estimates, the high estimate for the next quarter is -$0.05 and the low estimate is -$0.16. The average estimate for the next quarter is thus -$0.12.

Summary of Insider Activity:

Insiders traded RKT stock several times over the past three months with 83 Buys and 1 Sells. In these transactions, 1,142,800 shares were bought while 38,862 shares were sold. The number of buy transactions has increased to 334 while that of sell transactions has risen to 2 over the past year. The total number of shares bought during that period was 6,588,014 while 85,529 shares were sold.

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