Rocket Companies (NYSE:RKT) Rating Increased to Buy at Deutsche Bank Aktiengesellschaft

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 to investors on Wednesday,Briefing.com Automated Import reports. The brokerage presently has a $16.00 target price on the stock. Deutsche Bank Aktiengesellschaft’s price objective would suggest a potential upside of 17.75% from the company’s previous close.

Several other brokerages also recently weighed in on RKT. UBS Group raised shares of Rocket Companies from a “sell” rating to a “neutral” rating and cut their target price for the stock from $12.50 to $11.50 in a research note on Friday, January 10th. Keefe, Bruyette & Woods raised Rocket Companies from an “underperform” rating to a “market perform” rating and set a $14.00 price objective on the stock in a research report on Wednesday. Royal Bank of Canada reiterated a “sector perform” rating and issued a $18.00 target price on shares of Rocket Companies in a report on Tuesday. Wedbush restated a “neutral” rating and set a $13.00 price target on shares of Rocket Companies in a report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. lowered their price objective on Rocket Companies from $14.00 to $10.50 and set an “underweight” rating for the company in a research report on Tuesday, January 14th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $14.08.

Rocket Companies Price Performance

RKT stock opened at $13.59 on Wednesday. The company has a market capitalization of $27.12 billion, a PE ratio of -82.79 and a beta of 2.39. The company has a current ratio of 15.47, a quick ratio of 15.47 and a debt-to-equity ratio of 1.51. The business’s fifty day moving average price is $13.35 and its 200 day moving average price is $14.27. Rocket Companies has a 12-month low of $10.06 and a 12-month high of $21.38.

Hedge Funds Weigh In On Rocket Companies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RKT. AXQ Capital LP increased its position in Rocket Companies by 125.7% during the fourth quarter. AXQ Capital LP now owns 146,691 shares of the company’s stock worth $1,652,000 after buying an additional 81,695 shares in the last quarter. Quantbot Technologies LP raised its stake in Rocket Companies by 76.9% in the 4th quarter. Quantbot Technologies LP now owns 270,761 shares of the company’s stock valued at $3,049,000 after purchasing an additional 117,728 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Rocket Companies by 131.7% during the 4th quarter. Jones Financial Companies Lllp now owns 36,427 shares of the company’s stock worth $410,000 after purchasing an additional 20,706 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Rocket Companies by 11.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,163,243 shares of the company’s stock worth $13,098,000 after buying an additional 122,534 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of Rocket Companies in the third quarter valued at approximately $1,486,000. Institutional investors and hedge funds own 4.59% of the company’s stock.

About Rocket Companies

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.