Morgan Stanley Lowers RE/MAX (NYSE:RMAX) Price Target to $30.50
RE / MAX (NYSE: RMAX) The price target was lowered from USD 33.50 to USD 30.50 by stock researchers at Morgan Stanley in a research note issued to investors on Thursday, Benzinga reports. The company currently has an “equilibrium” rating for the financial services company’s stock. Morgan Stanley’s price target suggests a potential upside of 3.25% from the stock’s previous closing price.
Separately, Zacks Investment Research upgraded RE / MAX from a “hold” rating to a “buy” rating and set a price target of $ 35.00 for the stock in a report dated Friday, November 5th. Three research analysts have given the share a hold rating and two with a buy rating. The stock currently has an average “hold” rating and an average price target of $ 37.30, according to MarketBeat.com.
The shares of the NYSE RMAX traded around $ 0.22 during Thursday’s trading hours to hit $ 29.54. 100 shares of the stock were traded in hands compared to an average volume of 105,972. The company has a market cap of $ 558.04 million, a P / E of -31.66, and a beta of 1.46. The company has a quick ratio of 2.16, a current ratio of 1.79, and debt of 6.78. RE / MAX has a 52-week low of $ 26.05 and a 52-week high of $ 43.85. The company’s 50-day simple moving average is $ 30.73 and the company’s 200-day simple moving average is $ 32.55.
RE / MAX (NYSE: RMAX) last released its quarterly earnings data on Monday November 22nd. The financial services company reported earnings per share of $ 0.71 for the quarter, beating Zacks’ consensus estimate of $ 0.63 by $ 0.08. The company had revenue of $ 91.00 million for the quarter, compared to analyst expectations of $ 89.80 million. RE / MAX had a positive return on equity of 43.01% and a negative net margin of 5.61%. RE / MAX revenue increased 28.0% for the quarter compared to the same quarter last year. In the same period last year, the company achieved $ 0.64 EPS. As a group, sell-side analysts are forecasting that RE / MAX will generate earnings per share of 1.46 for the current fiscal year.
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He warns that additional incentives “will create inflationary pressures like we have not seen in a generation, with implications for the value of the dollar and financial stability.”
Institutional investors have recently changed their positions in business. Northwestern Mutual Wealth Management Co. purchased a new portion of RE / MAX stock valued at approximately $ 34,000 in the second quarter. PNC Financial Services Group Inc. increased its position in RE / MAX stocks by 134.2% in the third quarter. PNC Financial Services Group Inc. now owns 2,750 shares in the financial services company, valued at $ 87,000, after purchasing an additional 1,576 shares last quarter. Federated Hermes Inc. added 15.2% to its position in RE / MAX stocks in the second quarter. Federated Hermes Inc. now owns 4,169 shares in the financial services company valued at $ 139,000 after buying an additional 549 shares last quarter. Metropolitan Life Insurance Co NY increased its position in RE / MAX stocks 94,733.3% in the 2nd quarter. Metropolitan Life Insurance Co NY now owns 5,690 shares of the financial services company valued at $ 190,000 after buying an additional 5,684 shares last quarter. Eventually, AQR Capital Management LLC bought a new stake in RE / MAX stock valued at approximately $ 211,000 in Q2. 89.56% of the shares are currently owned by institutional investors and hedge funds.
About RE / MAX
RE / MAX Holdings, Inc. provides real estate franchise services through its subsidiaries. It operates in the following segments: real estate, mortgage, marketing funds and other. The real estate segment comprises the operation of the company’s own independent global franchising business under the brand name RE / MAX, as well as income from technology and data subscriptions.
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