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

Deutsche Bank Aktiengesellschaft upgraded shares of Rocket Companies (NYSE:RKT) from a hold rating to a buy rating in a research note released on Wednesday, MarketBeat Ratings reports. Deutsche Bank Aktiengesellschaft currently has $16.00 price target on the stock.

A number of other equities research analysts have also issued reports on RKT. The Goldman Sachs Group cut their target price on Rocket Companies from $16.00 to $14.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Morgan Stanley reduced their price objective on shares of Rocket Companies from $16.00 to $13.00 and set an “equal weight” rating for the company in a research note on Thursday, December 19th. Keefe, Bruyette & Woods raised shares of Rocket Companies from an “underperform” rating to a “market perform” rating and lifted their target price for the stock from $12.00 to $14.00 in a research report on Wednesday. Royal Bank of Canada restated a “sector perform” rating and issued a $18.00 price target on shares of Rocket Companies in a research report on Tuesday. Finally, Wedbush reiterated a “neutral” rating and set a $13.00 price objective on shares of Rocket Companies in a research report on Wednesday, March 5th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Rocket Companies has a consensus rating of “Hold” and a consensus target price of $14.08.

Rocket Companies Stock Up 9.6 %

NYSE RKT opened at $13.81 on Wednesday. The company has a market capitalization of $27.57 billion, a P/E ratio of -86.31 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’s 50 day simple moving average is $13.39 and its 200 day simple moving average is $14.27. The company has a debt-to-equity ratio of 1.51, a current ratio of 15.47 and a quick ratio of 15.47.

Rocket Companies Cuts Dividend

The business also recently declared a dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Thursday, March 20th. Rocket Companies’s dividend payout ratio (DPR) is presently 801.25%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP raised its stake in shares of Rocket Companies by 174.5% during the 4th quarter. Wellington Management Group LLP now owns 4,705,177 shares of the company’s stock worth $52,980,000 after purchasing an additional 2,990,837 shares in the last quarter. Boston Partners raised its position in Rocket Companies by 29.8% during the fourth quarter. Boston Partners now owns 12,313,780 shares of the company’s stock valued at $138,673,000 after acquiring an additional 2,829,292 shares in the last quarter. Nuveen Asset Management LLC lifted its stake in Rocket Companies by 52.7% in the fourth quarter. Nuveen Asset Management LLC now owns 8,122,148 shares of the company’s stock valued at $91,455,000 after acquiring an additional 2,804,090 shares during the last quarter. State Street Corp grew its position in Rocket Companies by 44.7% in the third quarter. State Street Corp now owns 4,108,189 shares of the company’s stock worth $78,836,000 after acquiring an additional 1,269,795 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of Rocket Companies during the 4th quarter worth $14,113,000. Hedge funds and other institutional investors 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.