RE/MAX (NYSE:RMAX) Upgraded by Zacks Investment Research to “Hold”

RE / MAX (NYSE: RMAX) was upgraded from a “sell” rating to a “hold” rating by Zacks Investment Research in a note issued to investors on Wednesday, Zacks.com reports.

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

A number of other equity analysts recently weighed the company as well. JPMorgan Chase & Co. upgraded RE / MAX from an “underweight” rating to a “neutral” rating in a report on Monday, December 21, and raised its price target for the company from $ 27.00 to $ 36.00 . Morgan Stanley raised its target price on RE / MAX from $ 37.00 to $ 40.00 and rated the stock as overweight in a report on Tuesday, January 5th. Three analysts have given the share a hold rating and three have given it a buy rating. The stock has a consensus rating of “Buy” and an average price target of $ 37.00.

The NYSE RMAX opened at $ 38.80 on Wednesday. The company has a current rate of 2.24, a fast rate of 2.24, and a leverage ratio of 1.98. The stock’s 50-day moving average is $ 37.77 and the two-hundred-day moving average is $ 34.70. The company has a market capitalization of $ 720.01 million, value for money of 56.23, and a beta of 1.55. RE / MAX has a 1-year low of $ 14.40 and a 1-year high of $ 40.78.

RE / MAX (NYSE: RMAX) last released its quarterly earnings data on Thursday November 5th. The financial services company reported earnings of $ 0.64 per share for the quarter, beating analysts’ consensus estimate of $ 0.60 by $ 0.04. The company posted revenue of $ 71.10 million for the quarter, compared to the consensus estimate of $ 70.62 million. RE / MAX had a return on equity of 44.11% and a net margin of 4.80%. The company’s quarterly revenue declined 0.6% year over year. For the same period last year, the company posted earnings of $ 0.61 per share. On average, analysts predict that RE / MAX will achieve earnings per share of 1.54 this year.

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In related news, CAO Brett A. Ritchie sold 2,670 shares in the company in a transaction that occurred on Monday, Jan. 25. The shares were sold at an average price of $ 40.00 for a total value of $ 106,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC website. 2.67% of the shares are owned by insiders.

A number of hedge funds have recently bought and sold RMAX stocks. PNC Financial Services Group Inc. increased its position in RE / MAX stocks by 40.7% in the second quarter. PNC Financial Services Group Inc. now owns 1,133 shares in the financial services company, valued at $ 37,000, after acquiring an additional 328 shares last quarter. BNP Paribas Arbitrage SA increased its position in RE / MAX stocks by 342.0% in the third quarter. BNP Paribas Arbitrage SA now owns 4,513 shares in the financial services company valued at $ 148,000 after purchasing an additional 3,492 shares last quarter. Strs Ohio bought a new stake in RE / MAX stock valued at $ 163,000 in the fourth quarter. The Florida Retirement System State Board of Administration purchased a new portion of RE / MAX stock valued at $ 212,000 in the third quarter. Finally, Two Sigma Advisers LP bought a new stake in RE / MAX for $ 239,000 in Q2. Hedge funds and other institutional investors own 95.47% of the company’s stock.

About RE / MAX

RE / MAX Holdings, Inc operates real estate and mortgage brokerage franchisors in the United States, Canada and internationally. The company operates in four segments: RE / MAX Franchising, Motto Franchising, Marketing Funds and Other. The company offers its real estate franchise services under the brand name RE / MAX. and Mortgage branded mortgage brokerage services.

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