RE/MAX (NYSE:RMAX) Raised to “Buy” at Zacks Investment Research

RE / MAX (NYSE: RMAX) was upgraded from a “hold” rating to a “buy” rating by Zacks Investment Research in a research report released on Wednesday, reports Zacks.com. The company currently has a target price of $ 33.00 on the financial services company’s stock. Zacks Investment Research’s price target would indicate a potential upside of 6.18% from the stock’s previous closing price.

According to Zacks, “Re / Max Holdings, Inc. is a real estate brokerage franchisor. Re / Max Holdings, Inc. is based in Denver, CO. “

Regardless, Morgan Stanley lowered its RE / MAX stock price target from $ 33.50 to $ 30.50 and dropped its target price on Thursday, Jan.

RMAX shares opened at $ 31.08 on Wednesday. RE / MAX has a 52-week low of $ 26.05 and a 52-week high of $ 43.85. The company has a market cap of $ 587.13 million, a P / E of -33.06, and a beta of 1.47. The stock has a 50-day moving average price of $ 29.83 and a 200-day moving average price of $ 31.81. The company has a debt of 6.78, a quick ratio of 1.79 and a current ratio of 1.79.

RE / MAX (NYSE: RMAX) last released its earnings results on Monday, November 22nd. The financial services company reported earnings per share (EPS) for the quarter of $ 0.71, beating the consensus estimate of $ 0.63 by $ 0.08. The company had revenue of $ 91.00 million for the quarter, compared to the consensus estimate of $ 89.80 million. RE / MAX had a negative net margin of 5.61% and a positive return on equity of 44.19%. The company’s revenue increased 28.0% year over year. For the same quarter last year, the company had earnings per share of $ 0.64. On average, stock analysts forecast RE / MAX to achieve earnings per share of 1.46 for the current year.

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Institutional investors and hedge funds have recently added or reduced their stake in the company. Northwestern Mutual Wealth Management Co. added a new position in RE / MAX shares valued at approximately $ 34,000 during the second quarter. PNC Financial Services Group Inc. increased its stake in RE / MAX 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. increased its stake in RE / MAX by 15.2% 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 stake in RE / MAX by 94,733.3% in the second 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. Finally, Martingale Asset Management LP acquired a new stake in RE / MAX for approximately $ 209,000 in the third quarter. 89.56% of the shares are owned by hedge funds and other institutional investors.

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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This instant news alert was generated through narrative science technology and financial data from MarketBeat to provide readers with the fastest, most accurate coverage. This story has been reviewed by the editorial staff of MarketBeat prior to publication. Please send questions or comments about this story to [email protected]

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