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.
Thanks to the rare convergence of three economic triggers, time is running out for a unique wealth creation opportunity.
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.
Recommended Article: How Does Inflation Affect Different Investments?
Get a Free Copy of Zacks Research Report on RE / MAX (RMAX)
For more information on research offerings from Zacks Investment Research, please visit Zacks.com
This instant message alert was generated through narrative science technology and financial data from MarketBeat to give readers the fastest, most accurate coverage possible. This story has been reviewed by the editorial staff of MarketBeat prior to publication. Please send questions or comments about this story to [email protected]
7 cloud computing stocks to take your portfolio to new heights
Cloud computing sounds complicated and has become more and more sophisticated over the years. However, the basic idea behind the cloud is the same. The “cloud” is a euphemistic term for the provision of various services over the Internet. In the beginning, the cloud was used exclusively for data storage. Here is a simple example of why this was important.
Back when the internet was cutting its teeth, I was working in marketing communications. The need to adhere to Total Quality Control Systems (TQCS) for our largest customers meant that we had to save every version of our files. Everyone. Single. On. Now imagine creating a 120-page product catalog with photos and diagrams. Your hard drive will burn if you just think about it. However, this “data” had to be stored somewhere. And so we had a virtual server farm trying to store all of those graphics-intensive (and memory-intensive) files until we could archive them.
Keep in mind that working remotely was a problem aside from the storage nightmare. You could copy a file from the server, but did you work on the correct file? I’m sure at least one person is reading this who will remember this pain.
The cloud takes that away. Cloud computing allows you to store files on a secure remote server that anyone can access wherever they have an internet connection. But it has become so much more. Cloud computing now offers companies a platform on which to build applications and software. If this sounds confusing, I hope to simplify it in this presentation. To understand which cloud computing stocks you use, you may want to add to your portfolio. We created this particular presentation. These are seven of the cloud computing stocks that will continue to grow with the sector.
Check out the “7 Cloud Computing Stocks To Take Your Portfolio To New Heights”.