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

Rocket Companies (NYSE:RKT) was upgraded by stock analysts at Deutsche Bank Aktiengesellschaft from a “hold” rating to a “buy” rating in a report issued on Wednesday,Briefing.com Automated Import reports. The firm currently has a $16.00 target price on the stock. Deutsche Bank Aktiengesellschaft’s target price would indicate a potential upside of 17.75% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. Morgan Stanley cut their price target on shares of Rocket Companies from $16.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 19th. The Goldman Sachs Group reduced their target price on Rocket Companies from $16.00 to $14.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Royal Bank of Canada restated a “sector perform” rating and set a $18.00 price target on shares of Rocket Companies in a research note on Tuesday. UBS Group raised Rocket Companies from a “sell” rating to a “neutral” rating and reduced their price objective for the company from $12.50 to $11.50 in a research note on Friday, January 10th. Finally, Keefe, Bruyette & Woods raised shares of Rocket Companies from an “underperform” rating to a “market perform” rating and set a $14.00 target price for the company in a research report on Wednesday. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $14.08.

Rocket Companies Trading Up 7.8 %

NYSE RKT opened at $13.59 on Wednesday. The company has a market cap of $27.12 billion, a P/E ratio of -82.79 and a beta of 2.39. Rocket Companies has a 12 month low of $10.06 and a 12 month high of $21.38. 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 50-day moving average of $13.35 and a 200-day moving average of $14.27.

Institutional Trading of Rocket Companies

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Cetera Investment Advisers grew its holdings in Rocket Companies by 2.9% during the fourth quarter. Cetera Investment Advisers now owns 33,035 shares of the company’s stock worth $372,000 after acquiring an additional 936 shares during the period. Vident Advisory LLC lifted its stake in Rocket Companies by 3.6% during the fourth 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 holdings in Rocket Companies by 58.1% during the fourth quarter. KBC Group NV now owns 6,056 shares of the company’s stock worth $68,000 after buying an additional 2,226 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Rocket Companies by 9.6% in the fourth quarter. The Manufacturers Life Insurance Company now owns 27,825 shares of the company’s stock worth $313,000 after buying an additional 2,437 shares during the last quarter. Finally, Lakeshore Financial Planning Inc. increased its holdings in shares of Rocket Companies by 21.7% in the fourth quarter. Lakeshore Financial Planning Inc. now owns 13,996 shares of the company’s stock valued at $158,000 after buying an additional 2,500 shares in the last quarter. Institutional investors 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.