Realogy Holdings Corp. (RLGY) Lifted to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Realogy Holdings Corp. (NYSE:RLGY) from a hold rating to a buy rating in a research report released on Wednesday morning. The brokerage currently has $39.00 target price on the financial services provider’s stock.
According to Zacks, “Realogy Holdings Corp. is a provider of real estate services. The Company through its subsidiaries provides real estate brokerage services, relocation services, and title and settlement services. The Company’s brands and business units include Better Homes and Gardens(R) Real Estate, CENTURY 21(R), Coldwell Banker(R), Coldwell Banker Commercial(R), The Corcoran Group(R), ERA(R), Sotheby’s International Realty(R), NRT LLC, Cartus and Title Resource Group. Realogy Holdings Corp. is headquartered in Parsippany, New Jersey. “
Other analysts have also issued reports about the company. TheStreet upgraded Realogy Holdings Corp. from a c+ rating to a b rating in a report on Wednesday, August 9th. Keefe, Bruyette & Woods restated a buy rating and issued a $38.00 price target on shares of Realogy Holdings Corp. in a report on Thursday, August 10th. BidaskClub upgraded Realogy Holdings Corp. from a hold rating to a buy rating in a report on Wednesday, August 9th. Deutsche Bank AG set a $42.00 price target on Realogy Holdings Corp. and gave the company a buy rating in a report on Tuesday, August 8th. Finally, Piper Jaffray Companies restated a buy rating and issued a $40.00 price target on shares of Realogy Holdings Corp. in a report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $34.75.
Shares of Realogy Holdings Corp. (RLGY) opened at 32.95 on Wednesday. The stock has a market capitalization of $4.49 billion, a P/E ratio of 19.20 and a beta of 1.39. Realogy Holdings Corp. has a 1-year low of $21.43 and a 1-year high of $35.18. The stock’s 50 day moving average price is $34.11 and its 200-day moving average price is $31.40.
Realogy Holdings Corp. (NYSE:RLGY) last posted its earnings results on Thursday, August 3rd. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. Realogy Holdings Corp. had a return on equity of 9.53% and a net margin of 4.06%. The firm had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the previous year, the firm earned $0.74 earnings per share. The company’s revenue was up 7.9% on a year-over-year basis. Equities research analysts anticipate that Realogy Holdings Corp. will post $1.73 EPS for the current fiscal year.
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In related news, SVP Timothy B. Gustavson sold 3,093 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $34.84, for a total transaction of $107,760.12. Following the sale, the senior vice president now owns 8,705 shares of the company’s stock, valued at $303,282.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RLGY. BlackRock Inc. lifted its stake in Realogy Holdings Corp. by 2,352.2% during the first quarter. BlackRock Inc. now owns 6,789,662 shares of the financial services provider’s stock worth $202,264,000 after purchasing an additional 6,512,779 shares during the last quarter. Wellington Management Group LLP bought a new stake in Realogy Holdings Corp. during the first quarter worth $44,039,000. FMR LLC lifted its stake in Realogy Holdings Corp. by 10.1% during the second quarter. FMR LLC now owns 12,344,949 shares of the financial services provider’s stock worth $400,594,000 after purchasing an additional 1,131,699 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Realogy Holdings Corp. by 83.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,286,364 shares of the financial services provider’s stock worth $41,743,000 after purchasing an additional 586,928 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in Realogy Holdings Corp. by 95.0% during the second quarter. American Century Companies Inc. now owns 1,098,732 shares of the financial services provider’s stock worth $35,654,000 after purchasing an additional 535,241 shares during the last quarter.
Realogy Holdings Corp. Company Profile
Realogy Holdings Corp. is an integrated provider of residential real estate services in the United States. The Company is the franchisor of residential real estate brokerages with some of the recognized brands in the real estate industry, the owner of United States residential real estate brokerage offices, the global provider of outsourced employee relocation services and a provider of title and settlement services.
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