Rocket Companies (RKT - Free Report) closed at $21.25 in the latest trading session, marking a -1.71% move from the prior day. This change lagged the S&P 500's daily loss of 0.11%. Elsewhere, the Dow lost 0.03%, while the tech-heavy Nasdaq added 0.14%.
Coming into today, shares of the company had gained 8.42% in the past month. In that same time, the Business Services sector gained 0.45%, while the S&P 500 gained 2.46%.
RKT will be looking to display strength as it nears its next earnings release, which is expected to be February 25, 2021.
Investors should also note any recent changes to analyst estimates for RKT. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 8.68% higher. RKT currently has a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that RKT has a Forward P/E ratio of 11.89 right now. Its industry sports an average Forward P/E of 34.6, so we one might conclude that RKT is trading at a discount comparatively.
It is also worth noting that RKT currently has a PEG ratio of 1.19. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Technology Services stocks are, on average, holding a PEG ratio of 2.72 based on yesterday's closing prices.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 211, which puts it in the bottom 18% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Rocket Companies (RKT - Free Report) closed at $21.25 in the latest trading session, marking a -1.71% move from the prior day. This change lagged the S&P 500's daily loss of 0.11%. Elsewhere, the Dow lost 0.03%, while the tech-heavy Nasdaq added 0.14%.
Coming into today, shares of the company had gained 8.42% in the past month. In that same time, the Business Services sector gained 0.45%, while the S&P 500 gained 2.46%.
RKT will be looking to display strength as it nears its next earnings release, which is expected to be February 25, 2021.
Investors should also note any recent changes to analyst estimates for RKT. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 8.68% higher. RKT currently has a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that RKT has a Forward P/E ratio of 11.89 right now. Its industry sports an average Forward P/E of 34.6, so we one might conclude that RKT is trading at a discount comparatively.
It is also worth noting that RKT currently has a PEG ratio of 1.19. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Technology Services stocks are, on average, holding a PEG ratio of 2.72 based on yesterday's closing prices.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 211, which puts it in the bottom 18% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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