Rocket Companies (NYSE:RKT) Upgraded at Deutsche Bank Aktiengesellschaft

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

RKT has been the subject of several other research reports. JPMorgan Chase & Co. dropped their target price on shares of Rocket Companies from $14.00 to $10.50 and set an “underweight” rating for the company in a report on Tuesday, January 14th. Morgan Stanley lowered their target price on Rocket Companies from $16.00 to $13.00 and set an “equal weight” rating for the company in a report on Thursday, December 19th. Wedbush reiterated a “neutral” rating and set a $13.00 price target on shares of Rocket Companies in a research note on Wednesday, March 5th. Royal Bank of Canada reissued a “sector perform” rating and set a $18.00 price target on shares of Rocket Companies in a research report on Tuesday. Finally, Keefe, Bruyette & Woods upgraded shares of Rocket Companies from an “underperform” rating to a “market perform” rating and lifted their price objective for the company from $12.00 to $14.00 in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $14.08.

Rocket Companies Stock Up 11.1 %

Shares of NYSE RKT opened at $15.38 on Wednesday. The company has a 50 day simple moving average of $13.49 and a 200-day simple moving average of $14.23. 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 capitalization of $30.70 billion, a P/E ratio of -96.13 and a beta of 2.39. Rocket Companies has a 1 year low of $10.06 and a 1 year high of $21.38.

Rocket Companies Cuts Dividend

The company also recently disclosed a dividend, which was paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th were issued a $0.80 dividend. The ex-dividend date of this dividend was Thursday, March 20th. Rocket Companies’s payout ratio is 801.25%.

Institutional Trading of Rocket Companies

Institutional investors have recently bought and sold shares of the business. AXQ Capital LP raised its position in shares of Rocket Companies by 125.7% during the 4th quarter. AXQ Capital LP now owns 146,691 shares of the company’s stock worth $1,652,000 after acquiring an additional 81,695 shares in the last quarter. Quantbot Technologies LP increased its stake in Rocket Companies by 76.9% in the fourth 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 increased its stake in Rocket Companies by 131.7% in the fourth quarter. Jones Financial Companies Lllp now owns 36,427 shares of the company’s stock valued at $410,000 after purchasing an additional 20,706 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in 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 purchasing an additional 122,534 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of Rocket Companies during the 3rd quarter worth approximately $1,486,000. 4.59% of the stock is owned by hedge funds and other institutional investors.

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.