Deutsche Bank Aktiengesellschaft Upgrades Rocket Companies (NYSE:RKT) to “Buy”

Rocket Companies (NYSE:RKT) was upgraded by equities researchers at Deutsche Bank Aktiengesellschaft from a “hold” rating to a “buy” rating in a research note issued on Wednesday, Marketbeat.com reports. The firm presently has a $16.00 price target on the stock. Deutsche Bank Aktiengesellschaft’s price objective indicates a potential upside of 15.79% from the stock’s current price.

A number of other analysts have also weighed in on RKT. Keefe, Bruyette & Woods upgraded shares of Rocket Companies from an “underperform” rating to a “market perform” rating and upped their target price for the stock from $12.00 to $14.00 in a research note on Wednesday. Morgan Stanley dropped their price objective on shares of Rocket Companies from $16.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Thursday, December 19th. The Goldman Sachs Group decreased their price objective on shares of Rocket Companies from $16.00 to $14.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. UBS Group upgraded shares of Rocket Companies from a “sell” rating to a “neutral” rating and lowered their target price for the stock from $12.50 to $11.50 in a research note on Friday, January 10th. Finally, JPMorgan Chase & Co. cut their price target on Rocket Companies from $14.00 to $10.50 and set an “underweight” rating on the stock in a research note on Tuesday, January 14th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Rocket Companies currently has an average rating of “Hold” and an average target price of $14.08.

Rocket Companies Price Performance

Shares of NYSE RKT opened at $13.82 on Wednesday. The company has a debt-to-equity ratio of 1.51, a current ratio of 15.47 and a quick ratio of 15.47. The company has a market cap of $27.58 billion, a price-to-earnings ratio of -86.36 and a beta of 2.39. The stock’s 50-day moving average is $13.42 and its two-hundred day moving average is $14.26. Rocket Companies has a 1-year low of $10.06 and a 1-year high of $21.38.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in RKT. Cetera Investment Advisers boosted its holdings in shares of Rocket Companies by 2.9% in the fourth quarter. Cetera Investment Advisers now owns 33,035 shares of the company’s stock valued at $372,000 after acquiring an additional 936 shares during the period. Vident Advisory LLC raised its position in Rocket Companies by 3.6% in the 4th quarter. Vident Advisory LLC now owns 30,798 shares of the company’s stock valued at $347,000 after purchasing an additional 1,078 shares during the last quarter. KBC Group NV boosted its stake in Rocket Companies by 58.1% during the 4th quarter. KBC Group NV now owns 6,056 shares of the company’s stock worth $68,000 after purchasing an additional 2,226 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Rocket Companies by 9.6% during the 4th quarter. The Manufacturers Life Insurance Company now owns 27,825 shares of the company’s stock worth $313,000 after purchasing an additional 2,437 shares during the period. Finally, Lakeshore Financial Planning Inc. grew its position in Rocket Companies by 21.7% during the 4th quarter. Lakeshore Financial Planning Inc. now owns 13,996 shares of the company’s stock worth $158,000 after purchasing an additional 2,500 shares during the last quarter. Institutional investors and hedge funds own 4.59% of the company’s stock.

Rocket Companies Company Profile

Rocket Companies, Inc, a fintech holding company, provides mortgage lending, title and settlement services, and other financial technology services in the United States and Canada. It operates through two segments, Direct to Consumer and Partner Network. The company’s solutions include Rocket Mortgage, a mortgage lender; Amrock that provides title insurance, property valuation, and settlement services; Rocket Homes, a home search platform and real estate agent referral network, which offers technology-enabled services to support the home buying and selling experience; and Rocket Loans, an online-based personal loans business.