Stephens Trims RE/MAX (NYSE:RMAX) Target Price to $26.00

November 7, 2022 Beth McCandry

RE/MAX (NYSE:RMAX – Get Rating) had its target price lowered by investment analysts at Stephens from $27.00 to $26.00 in a research report issued on Monday, Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Stephens’ price target would suggest a potential upside of 49.34% from the stock’s previous close.

Several other research firms also recently commented on RMAX. Jonestrading decreased their price objective on RE/MAX from $34.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday, September 26th. StockNews.com assumed coverage on RE/MAX in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock.

RE/MAX stock performance

RMAX stock traded down $1.48 during trading on Monday, reaching $17.41. The stock had a trading volume of 1,596 shares, compared to its average volume of 165,518. RE/MAX has a 52 week low of $17.73 and a 52 week high of $32.72. The stock’s 50 day moving average is $19.81 and its two-hundred day moving average is $22.85. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 7.01. The firm has a market cap of $335.42 million, a PE ratio of 31.66 and a beta of 1.27.

RE/MAX (NYSE:RMAX – Get Rating) last posted its earnings results on Thursday, August 4th. The financial services provider reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.09. RE/MAX had a return on equity of 82.16% and a net margin of 2.91%. The company had revenue of $92.17 million for the quarter, compared to the consensus estimate of $92.54 million. During the same quarter in the prior year, the company earned $0.51 earnings per share. RE/MAX’s revenue was up 19.3% on a year-over-year basis. As a group, equities analysts anticipate that RE/MAX will post 1.77 earnings per share for the current year.

Insider Activity at RE/MAX

In other RE/MAX news, major shareholder Adam K. Peterson bought 16,342 shares of the firm’s stock in a transaction that occurred on Monday, September 26th. The shares were bought at an average price of $18.38 per share, with a total value of $300,365.96. Following the purchase, the insider now owns 2,137,147 shares of the company’s stock, valued at $39,280,761.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other RE/MAX news, major shareholder Adam K. Peterson bought 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 29th. The shares were bought at an average price of $18.38 per share, with a total value of $735,200.00. Following the purchase, the insider now owns 2,196,195 shares of the company’s stock, valued at $40,366,064.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Adam K. Peterson purchased 16,342 shares of the business’s stock in a transaction on Monday, September 26th. The shares were purchased at an average price of $18.38 per share, with a total value of $300,365.96. Following the acquisition, the insider now directly owns 2,137,147 shares in the company, valued at $39,280,761.86. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 80,106 shares of company stock valued at $1,469,858. 3.37% of the stock is owned by company insiders.

Hedge Funds Weigh In On RE/MAX

Institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. purchased a new position in RE/MAX during the 1st quarter valued at approximately $1,566,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in RE/MAX during the 1st quarter valued at approximately $2,249,000. Campbell & CO Investment Adviser LLC purchased a new position in RE/MAX during the 1st quarter valued at approximately $210,000. Counterpoint Mutual Funds LLC purchased a new position in RE/MAX during the 2nd quarter valued at approximately $129,000. Finally, Clearstead Advisors LLC bought a new position in shares of RE/MAX during the 1st quarter valued at approximately $72,000. Hedge funds and other institutional investors own 98.85% of the company’s stock.

RE/MAX Company Profiles

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RE/MAX Holdings, Inc operates as a franchiser of real estate and mortgage brokerage services in the United States, Canada, and internationally. The company operates through three segments: Real Estate, Mortgage, and Marketing Funds. It offers real estate brokerage franchising services under the RE/MAX brand; mortgage brokerage services to real estate brokers, real estate professionals, mortgage professionals, and other investors under the Motto Mortgage brand; and mortgage loan processing software and services under the wemlo brand.

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