RE/MAX (NYSE:RMAX) Downgraded to “Hold” at Zacks Investment Research
RE/MAX (NYSE:RMAX – Get Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday, Zacks.com reports.
According to Zacks, “Re/Max Holdings, Inc. is a franchisor of real estate brokerage services. Re/Max Holdings, Inc. is based in Denver, CO.”
Other equities analysts have also issued research reports on the stock. Morgan Stanley reduced their target price on shares of RE/MAX from $33.50 to $30.50 and set an “equal weight” rating on the stock in a report on Thursday, December 9th. Keefe, Bruyette & Woods dropped their price target on shares of RE/MAX from $37.00 to $35.00 in a research note on Monday. Finally, Jonestrading began coverage on shares of RE/MAX in a research note on Wednesday. They set a “buy” rating and a $38.00 price target on the stock.
NYSE:RMAX opened at $29.03 on Friday. The company has a current ratio of 1.81, a quick ratio of 1.79 and a debt-to-equity ratio of 6.48. The firm has a market capitalization of $548.41 million, a price-to-earnings ratio of -34.15 and a beta of 1.43. The firm’s fifty day simple moving average is $29.96 and its 200 day simple moving average is $30.84. RE/MAX has a twelve month low of $26.05 and a twelve month high of $42.88.
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Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lazard Asset Management LLC increased its position in shares of RE/MAX by 76.0% in the 4th quarter. Lazard Asset Management LLC now owns 2,165 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 935 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of RE/MAX by 143.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,708 shares of the financial services provider’s stock valued at $83,000 after buying an additional 1,594 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of RE/MAX by 134.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,750 shares of the financial services provider’s stock valued at $87,000 after buying an additional 1,576 shares during the last quarter. Federated Hermes Inc. grew its position in shares of RE/MAX by 15.2% during the 2nd quarter. Federated Hermes Inc. now owns 4,169 shares of the financial services provider’s stock valued at $139,000 after buying an additional 549 shares during the last quarter. Finally, Metropolitan Life Insurance Co NY grew its position in shares of RE/MAX by 94,733.3% during the 2nd quarter. Metropolitan Life Insurance Co NY now owns 5,690 shares of the financial services provider’s stock valued at $190,000 after buying an additional 5,684 shares during the last quarter. 94.38% of the stock is owned by institutional investors.
About RE/MAX (Get Rating)
RE/MAX Holdings, Inc engages in the provision of real estate franchise services through its subsidiaries. It operates through the following segments: Real Estate, Mortgage, Marketing Funds, and Other. The Real Estate segment is comprised of the Company’s owned and independent global franchising operations under the RE/MAX brand name and technology and data subscription for Gadberry and the First app.
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