RE/MAX (NYSE:RMAX) Upgraded at Zacks Investment Research
RE/MAX (NYSE:RMAX – Get Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday, Zacks.com reports. The brokerage currently has a $32.00 target price on the financial services provider’s stock. Zacks Investment Research’s price target indicates a potential upside of 7.56% from the company’s previous close.
According to Zacks, “Re/Max Holdings, Inc. is a franchisor of real estate brokerage services. Re/Max Holdings, Inc. is based in Denver, CO.”
Separately, Morgan Stanley decreased their objective price on shares of RE/MAX from $33.50 to $30.50 and set an “equal weight” rating for the company in a report on Thursday, December 9th.
Shares of RMAX stock opened at $29.75 on Friday. The firm has a market cap of $562.01 million, a P/E ratio of -31.65 and a beta of 1.47. The company has a debt-to-equity ratio of 6.78, a current ratio of 1.79 and a quick ratio of 1.79. RE/MAX has a 1-year low of $26.05 and a 1-year high of $43.85. The firm has a fifty day moving average of $30.02 and a two hundred day moving average of $31.03.
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RE/MAX (NYSE:RMAX – Get Rating) last announced its quarterly earnings data on Monday, November 22nd. The financial services provider reported $0.71 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.08. The company had revenue of $91.00 million during the quarter, compared to analyst estimates of $89.80 million. RE/MAX had a negative net margin of 5.61% and a positive return on equity of 44.19%. The firm’s revenue for the quarter was up 28.0% compared to the same quarter last year. During the same period last year, the business earned $0.64 EPS. On average, sell-side analysts expect that RE/MAX will post 1.49 EPS for the current year.
Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. lifted its position in shares of RE/MAX by 1.9% in the 4th quarter. BlackRock Inc. now owns 3,679,385 shares of the financial services provider’s stock worth $112,184,000 after buying an additional 69,991 shares during the last quarter. Vanguard Group Inc. lifted its position in RE/MAX by 3.9% in the 2nd quarter. Vanguard Group Inc. now owns 2,222,480 shares of the financial services provider’s stock valued at $74,076,000 after purchasing an additional 83,633 shares during the last quarter. Aureus Asset Management LLC lifted its position in RE/MAX by 15.0% in the 4th quarter. Aureus Asset Management LLC now owns 714,757 shares of the financial services provider’s stock valued at $21,793,000 after purchasing an additional 93,035 shares during the last quarter. State Street Corp lifted its position in RE/MAX by 8.0% in the 4th quarter. State Street Corp now owns 641,342 shares of the financial services provider’s stock valued at $19,555,000 after purchasing an additional 47,611 shares during the last quarter. Finally, Confluence Investment Management LLC lifted its position in RE/MAX by 7.5% in the 4th quarter. Confluence Investment Management LLC now owns 575,114 shares of the financial services provider’s stock valued at $17,535,000 after purchasing an additional 40,014 shares during the last quarter. Institutional investors own 92.42% of the company’s stock.
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.
Further Reading
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