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Is Rocket Companies (RKT) Outperforming Other Business Services Stocks This Year?

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Zacks Equity Research
·2 min read
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Investors focused on the Business Services space have likely heard of Rocket Companies (RKT), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of RKT and the rest of the Business Services group's stocks.

Rocket Companies is a member of the Business Services sector. This group includes 214 individual stocks and currently holds a Zacks Sector Rank of #9. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. RKT is currently sporting a Zacks Rank of #1 (Strong Buy).

Within the past quarter, the Zacks Consensus Estimate for RKT's full-year earnings has moved 52.94% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Based on the most recent data, RKT has returned 14.09% so far this year. Meanwhile, stocks in the Business Services group have gained about 0.41% on average. 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 82 individual stocks and currently sits at #182 in the Zacks Industry Rank. Stocks in this group have gained about 5.45% so far this year, so RKT is performing better this group in terms of year-to-date returns.

Investors with an interest in Business Services stocks should continue to track RKT. The stock will be looking to continue its solid performance.

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Zacks Investment Research