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Is Rocket Companies (RKT) Stock Outpacing Its Business Services Peers This Year?

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For those looking to find strong Business Services stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Rocket Companies (RKT - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.

Rocket Companies is one of 223 companies in the Business Services group. The Business Services group currently sits at #8 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. RKT is currently sporting a Zacks Rank of #3 (Hold).

Within the past quarter, the Zacks Consensus Estimate for RKT's full-year earnings has moved 41.24% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Based on the latest available data, RKT has gained about -10.53% so far this year. Meanwhile, the Business Services sector has returned an average of 1.92% on a year-to-date basis. This means that Rocket Companies is outperforming the sector as a whole this year.

Looking more specifically, RKT belongs to the Technology Services industry, a group that includes 90 individual stocks and currently sits at #173 in the Zacks Industry Rank. This group has lost an average of 0.76% so far this year, so RKT is slightly underperforming its industry in this area.

Investors in the Business Services sector will want to keep a close eye on RKT as it attempts to continue its solid performance.


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