RE/MAX (NYSE:RMAX) Rating Increased to Hold at Zacks Investment Research
RE/MAX (NYSE:RMAX – Get Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday, 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.”
Several other equities research analysts also recently weighed in on RMAX. Jonestrading started coverage on shares of RE/MAX in a research note on Wednesday, March 2nd. They issued a “buy” rating and a $38.00 target price for the company. Morgan Stanley lowered their target price on shares of RE/MAX from $30.50 to $28.50 and set an “equal weight” rating for the company in a research note on Wednesday, March 9th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of RE/MAX from $37.00 to $35.00 in a research note on Monday, February 28th.
NYSE RMAX opened at $29.46 on Thursday. The company has a debt-to-equity ratio of 6.48, a quick ratio of 1.81 and a current ratio of 1.81. The firm’s 50-day moving average price is $29.67 and its 200-day moving average price is $30.50. RE/MAX has a 52-week low of $26.05 and a 52-week high of $41.79. The company has a market cap of $556.53 million, a PE ratio of -34.66 and a beta of 1.41.
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Hedge funds and other institutional investors have recently bought and sold shares of the business. Prudential Financial Inc. raised its holdings in shares of RE/MAX by 39.4% in the second quarter. Prudential Financial Inc. now owns 32,469 shares of the financial services provider’s stock worth $1,083,000 after buying an additional 9,169 shares during the last quarter. KBC Group NV raised its holdings in shares of RE/MAX by 36.1% during the third quarter. KBC Group NV now owns 55,431 shares of the financial services provider’s stock worth $1,727,000 after purchasing an additional 14,715 shares during the last quarter. UBS Asset Management Americas Inc. raised its holdings in shares of RE/MAX by 7.9% during the second quarter. UBS Asset Management Americas Inc. now owns 17,790 shares of the financial services provider’s stock worth $593,000 after purchasing an additional 1,306 shares during the last quarter. Tudor Investment Corp Et Al raised its holdings in shares of RE/MAX by 72.0% during the third quarter. Tudor Investment Corp Et Al now owns 25,599 shares of the financial services provider’s stock worth $798,000 after purchasing an additional 10,713 shares during the last quarter. Finally, Morgan Stanley raised its holdings in shares of RE/MAX by 105.8% during the second quarter. Morgan Stanley now owns 141,244 shares of the financial services provider’s stock worth $4,708,000 after purchasing an additional 72,598 shares during the last quarter. 94.38% of the stock is owned by institutional investors and hedge funds.
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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