A correction may be in store for Rocket Companies Inc. (NYSE:RKT) shares?

As of close of business last night, Rocket Companies Inc.’s stock clocked out at 7.36, down -3.66% from its previous closing price of $7.64. In other words, the price has decreased by $-0.28 from its previous closing price. On the day, 2235585 shares were traded. RKT reached its highest trading level at $7.56 during the session, while it also had its lowest trading level at $7.30.

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To gain a deeper understanding of RKT’s stock, we examine its different ratios. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 15.61 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 1.23. In the meantime, Its Debt-to-Equity ratio is 26.61 whereas as Long-Term Debt/Eq ratio is at 7.57.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for the company, JP Morgan on September 06, 2022, Downgraded its rating to Neutral and sets its target price to $8.50 from $11 previously.

On August 08, 2022, Keefe Bruyette Downgraded its rating to Underperform which previously was Mkt Perform but kept the price unchanged to $6.50.

Wells Fargo Upgraded its Equal Weight to Overweight on July 06, 2022, while the target price for the stock was maintained at $10.

Insider Transactions:

Investing in insider trades can also provide an investor with insight into how management views future stock prices. A recent insider transaction in this stock occurred on Sep 16 when Farner Jay bought 26,900 shares for $7.42 per share. The transaction valued at 199,598 led to the insider holds 4,160,307 shares of the business.

Rizik Matthew bought 2,900 shares of RKT for $21,518 on Sep 16. The Director now owns 362,902 shares after completing the transaction at $7.42 per share. On Sep 15, another insider, Farner Jay, who serves as the Chief Executive Officer of the company, bought 26,200 shares for $7.61 each. As a result, the insider paid 199,382 and bolstered with 4,133,407 shares of the company.

Valuation Measures:

As of this moment, Rocket’s Price-to-Earnings (P/E) ratio for their current fiscal year is 4.78, and their Forward P/E ratio for the next fiscal year is 13.60. For the stock, the TTM Price-to-Sale (P/S) ratio is 1.43 while its Price-to-Book (P/B) ratio in mrq is 1.64.

Stock Price History:

Over the past 52 weeks, RKT has reached a high of $16.84, while it has fallen to a 52-week low of $6.27. The 50-Day Moving Average of the stock is 9.04, while the 200-Day Moving Average is calculated to be 10.56.

Shares Statistics:

It appears that RKT traded 3.27M shares on average per day over the past three months and 3.18M shares per day over the past ten days. A total of 115.37M shares are outstanding, with a floating share count of 111.45M. Insiders hold about 4.60% of the company’s shares, while institutions hold 70.50% stake in the company. Shares short for RKT as of Jul 14, 2022 were 33.6M with a Short Ratio of 9.97, compared to 32.42M on Jun 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 28.35% and a Short% of Float of 28.60%.

Earnings Estimates

As of right now, 14 analysts gave their recommendation on the stock of the company. On average, analysts expect EPS of $0.03 for the current quarter, with a high estimate of $0.09 and a low estimate of $-0.01, while EPS last year was $0.46. The consensus estimate for the next quarter is $0.08, with high estimates of $0.17 and low estimates of $0.

Analysts are recommending an EPS of between $0.54 and $0.19 for the fiscal current year, implying an average EPS of $0.36. EPS for the following year is $0.77, with 15 analysts recommending between $1.13 and $0.4.

Revenue Estimates

In the current quarter, 10 analysts expect revenue to total $1.49B. It ranges from a high estimate of $1.7B to a low estimate of $1.29B. As of the current estimate, Rocket Companies Inc.’s year-ago sales were $2.92B, an estimated decrease of -49.10% from the year-ago figure. For the next quarter, 10 analysts are estimating revenue of $1.5B, a decrease of -51.70% less than the figure of $-49.10% in the same quarter last year. There is a high estimate of $1.73B for the next quarter, whereas the lowest estimate is $1.26B.

A total of 11 analysts have provided revenue estimates for RKT’s current fiscal year. The highest revenue estimate was $7.62B, while the lowest revenue estimate was $5.82B, resulting in an average revenue estimate of $7.08B. In the same quarter a year ago, actual revenue was $12.91B, down -45.10% from the average estimate. Based on 12 analysts’ estimates, the company’s revenue will be $7.23B in the next fiscal year. The high estimate is $8.75B and the low estimate is $5.55B. The average revenue growth estimate for next year is up 2.00% from the average revenue estimate for this year.