RE/MAX Holdings, Inc. (RMAX) Rating Increased to Buy at Zacks Investment Research
RE/MAX Holdings, Inc. (NYSE:RMAX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The brokerage presently has a $69.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s price objective points to a potential upside of 11.11% from the company’s current price.
According to Zacks, “Re/Max Holdings, Inc. is a franchisor of real estate brokerage services. Re/Max Holdings, Inc. is based in Denver, CO. “
Other analysts also recently issued reports about the company. BidaskClub upgraded RE/MAX Holdings from a “hold” rating to a “buy” rating in a research report on Saturday, July 1st. Stephens cut RE/MAX Holdings from an “overweight” rating to an “equal weight” rating in a report on Monday. Finally, Bank of America Corporation cut RE/MAX Holdings from a “neutral” rating to an “underperform” rating and set a $56.00 target price for the company. in a report on Friday, June 30th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $59.33.
Shares of RE/MAX Holdings (RMAX) opened at 62.10 on Wednesday. RE/MAX Holdings has a 12 month low of $40.41 and a 12 month high of $66.10. The firm’s 50-day moving average price is $57.39 and its 200-day moving average price is $56.79. The company has a market cap of $1.10 billion, a PE ratio of 48.25 and a beta of 0.93.
RE/MAX Holdings (NYSE:RMAX) last posted its earnings results on Thursday, August 3rd. The financial services provider reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. The business had revenue of $48.82 million for the quarter, compared to analyst estimates of $48.29 million. RE/MAX Holdings had a return on equity of 79.94% and a net margin of 12.45%. The firm’s revenue was up 12.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.46 EPS. Equities analysts predict that RE/MAX Holdings will post $1.89 EPS for the current fiscal year.
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In related news, President Geoffrey D. Lewis sold 1,200 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $60.00, for a total transaction of $72,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.58% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue raised its position in RE/MAX Holdings by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 1,950 shares of the financial services provider’s stock worth $115,000 after buying an additional 40 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its stake in RE/MAX Holdings by 1.1% in the first quarter. Municipal Employees Retirement System of Michigan now owns 5,680 shares of the financial services provider’s stock valued at $338,000 after buying an additional 60 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in RE/MAX Holdings by 1.4% in the first quarter. Louisiana State Employees Retirement System now owns 7,200 shares of the financial services provider’s stock valued at $428,000 after buying an additional 100 shares in the last quarter. Arizona State Retirement System raised its stake in RE/MAX Holdings by 1.1% in the first quarter. Arizona State Retirement System now owns 9,200 shares of the financial services provider’s stock valued at $547,000 after buying an additional 100 shares in the last quarter. Finally, Texas Permanent School Fund raised its stake in RE/MAX Holdings by 1.1% in the second quarter. Texas Permanent School Fund now owns 12,921 shares of the financial services provider’s stock valued at $724,000 after buying an additional 140 shares in the last quarter.
About RE/MAX Holdings
RE/MAX Holdings, Inc is a franchisor in the real estate industry, franchising real estate brokerages around the world under the RE/MAX brand and mortgage brokerages within the United States under the Motto Mortgage brand. The Company is a franchised business, with all of the RE/MAX branded brokerage office locations being operated by franchisees, including RE/MAX, LLC, which owns the RE/MAX brand, and sells franchises and franchising rights; Independent Regional Franchise Owner, which owns rights to sell brokerage franchises in a specified region; Franchisee (or Broker-Owner), which operates a RE/MAX-branded brokerage office, lists properties and recruits agents, and Agent (or Sales Associate), including branded independent contractors operating out of local franchise brokerage offices.
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