RE/MAX Holdings, Inc. (RMAX) Upgraded 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 note issued to investors on Wednesday, August 9th. The brokerage currently has a $69.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s target price points to a potential upside of 17.85% from the stock’s previous close.
According to Zacks, “Re/Max Holdings, Inc. is a franchisor of real estate brokerage services. Re/Max Holdings, Inc. is based in Denver, CO. “
RMAX has been the subject of several other research reports. Stephens downgraded shares of RE/MAX Holdings from an “overweight” rating to an “equal weight” rating and set a $66.00 price target for the company. in a report on Monday, August 7th. BidaskClub raised shares of RE/MAX Holdings from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Finally, Bank of America Corporation downgraded shares of RE/MAX Holdings from a “neutral” rating to an “underperform” rating and set a $56.00 price target for the company. in a report on Friday, June 30th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $61.00.
Shares of RE/MAX Holdings (RMAX) traded down 0.59% during mid-day trading on Wednesday, reaching $58.55. 63,315 shares of the company were exchanged. RE/MAX Holdings has a 12 month low of $40.41 and a 12 month high of $66.10. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of 44.42 and a beta of 0.93. The company’s 50-day moving average is $58.71 and its 200 day moving average is $57.21.
RE/MAX Holdings (NYSE:RMAX) last released its quarterly earnings data on Thursday, August 3rd. The financial services provider reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. The firm had revenue of $48.82 million during the quarter, compared to the consensus estimate of $48.29 million. RE/MAX Holdings had a net margin of 12.45% and a return on equity of 79.94%. The firm’s revenue was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.46 earnings per share. Analysts predict that RE/MAX Holdings will post $1.90 EPS for the current year.
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In other news, President Geoffrey D. Lewis sold 1,200 shares of the business’s stock in a transaction on Friday, August 4th. The shares were 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 at the SEC website. Insiders own 0.58% of the company’s stock.
Large investors have recently bought and sold shares of the company. Piedmont Investment Advisors LLC bought a new stake in RE/MAX Holdings during the second quarter valued at $215,000. The Manufacturers Life Insurance Company increased its stake in RE/MAX Holdings by 2.1% in the second quarter. The Manufacturers Life Insurance Company now owns 13,713 shares of the financial services provider’s stock valued at $768,000 after buying an additional 276 shares during the last quarter. State Street Corp increased its stake in RE/MAX Holdings by 4.6% in the second quarter. State Street Corp now owns 419,864 shares of the financial services provider’s stock valued at $23,532,000 after buying an additional 18,611 shares during the last quarter. Stifel Financial Corp increased its stake in RE/MAX Holdings by 0.3% in the second quarter. Stifel Financial Corp now owns 23,419 shares of the financial services provider’s stock valued at $1,313,000 after buying an additional 61 shares during the last quarter. Finally, Voya Investment Management LLC increased its stake in RE/MAX Holdings by 24.6% in the second quarter. Voya Investment Management LLC now owns 18,855 shares of the financial services provider’s stock valued at $1,057,000 after buying an additional 3,726 shares during the last quarter.
RE/MAX Holdings Company Profile
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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