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 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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