RE/MAX (NYSE:RMAX) Upgraded by Zacks Investment Research to “Buy”
RE/MAX (NYSE:RMAX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, Zacks.com reports. The brokerage currently has a $34.00 target price on the financial services provider’s stock. Zacks Investment Research’s target price would suggest a potential upside of 11.95% from the company’s current price.
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 lowered their price target on RE/MAX from $33.50 to $30.50 and set an “equal weight” rating on the stock in a report on Thursday, December 9th.
Shares of NYSE RMAX opened at $30.37 on Friday. RE/MAX has a 1-year low of $26.05 and a 1-year high of $43.85. The company has a debt-to-equity ratio of 6.78, a current ratio of 1.79 and a quick ratio of 1.79. The business’s fifty day moving average price is $29.84 and its two-hundred day moving average price is $31.31. The firm has a market capitalization of $573.72 million, a PE ratio of -32.31 and a beta of 1.47.
RE/MAX (NYSE:RMAX) last issued its earnings results 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. RE/MAX had a positive return on equity of 44.19% and a negative net margin of 5.61%. The firm had revenue of $91.00 million for the quarter, compared to analyst estimates of $89.80 million. During the same period last year, the company earned $0.64 earnings per share. The firm’s revenue for the quarter was up 28.0% on a year-over-year basis. Equities research analysts expect that RE/MAX will post 1.49 earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently made changes to their positions in RMAX. Assenagon Asset Management SA acquired a new stake in RE/MAX during the 4th quarter worth about $6,958,000. Balyasny Asset Management LLC acquired a new stake in RE/MAX during the 3rd quarter worth about $5,327,000. Hotchkis & Wiley Capital Management LLC boosted its position in RE/MAX by 203.9% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 207,210 shares of the financial services provider’s stock worth $6,457,000 after acquiring an additional 139,020 shares during the period. Bridgeway Capital Management LLC boosted its position in RE/MAX by 335.7% during the 2nd quarter. Bridgeway Capital Management LLC now owns 122,000 shares of the financial services provider’s stock worth $4,066,000 after acquiring an additional 94,000 shares during the period. Finally, Morgan Stanley boosted his position in RE/MAX by 63.9% during the 3rd quarter. Morgan Stanley now owns 231,505 shares of the financial services provider’s stock worth $7,214,000 after acquiring an additional 90,261 shares during the period. Hedge funds and other institutional investors own 92.42% of the company’s stock.
About RE/MAX
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 includes operations of the company’s owned and independent global franchising operations under the RE/MAX brand name and technology and data subscription revenue.
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