RE/MAX Holdings, Inc. (RMAX) Stock Rating Lowered by BidaskClub
RE/MAX Holdings, Inc. (NYSE:RMAX) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Friday.
Several other analysts have also recently commented on RMAX. Bank of America Corporation cut 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. Zacks Investment Research cut shares of RE/MAX Holdings from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Stephens cut 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. Finally, Craig Hallum started coverage on shares of RE/MAX Holdings in a report on Wednesday, August 30th. They set a “buy” rating and a $75.00 price target for the company. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $63.80.
RE/MAX Holdings (NYSE:RMAX) traded up 0.17% during trading on Friday, reaching $60.50. 68,925 shares of the company’s stock were exchanged. RE/MAX Holdings has a 52 week low of $40.99 and a 52 week high of $66.10. The company’s 50 day moving average price is $60.07 and its 200-day moving average price is $57.50. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of 45.90 and a beta of 0.92.
RE/MAX Holdings (NYSE:RMAX) last posted its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $0.54 EPS for the quarter, topping the consensus estimate of $0.48 by $0.06. The business had revenue of $48.82 million during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 12.5% compared to the same quarter last year. During the same period last year, the company posted $0.46 earnings per share. On average, equities analysts expect that RE/MAX Holdings will post $1.90 EPS for the current year.
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In other RE/MAX Holdings news, President Geoffrey D. Lewis sold 1,200 shares of RE/MAX Holdings stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $60.00, for a total value of $72,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.58% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Glen Harbor Capital Management LLC lifted its stake in RE/MAX Holdings by 127.3% in the first quarter. Glen Harbor Capital Management LLC now owns 1,700 shares of the financial services provider’s stock valued at $101,000 after acquiring an additional 952 shares during the last quarter. State of Alaska Department of Revenue lifted its stake 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 valued at $115,000 after acquiring an additional 40 shares during the last quarter. Sei Investments Co. lifted its stake in RE/MAX Holdings by 6.5% in the first quarter. Sei Investments Co. now owns 2,501 shares of the financial services provider’s stock valued at $149,000 after acquiring an additional 153 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in RE/MAX Holdings in the first quarter valued at approximately $159,000. Finally, Aperio Group LLC acquired a new stake in RE/MAX Holdings in the second quarter valued at approximately $211,000.
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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