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Rocket Companies (RKT) closed the most recent trading day at $21.21, moving +1.29% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.1%. At the same time, the Dow added 0.12%, and the tech-heavy Nasdaq lost 0.02%.
Wall Street will be looking for positivity from RKT as it approaches its next earnings report date. This is expected to be February 25, 2021.
It is also important to note the recent changes to analyst estimates for RKT. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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. The Zacks Consensus EPS estimate has moved 8.68% higher within the past month. RKT is currently a Zacks Rank #1 (Strong Buy).
Looking at its valuation, RKT is holding a Forward P/E ratio of 11.84. This valuation marks a discount compared to its industry's average Forward P/E of 32.39.
We can also see that RKT currently has a PEG ratio of 1.18. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Technology Services stocks are, on average, holding a PEG ratio of 2.61 based on yesterday's closing prices.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 205, putting it in the bottom 20% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.