Zacks Investment Research Downgrades RE/MAX (NYSE:RMAX) to Sell
RE / MAX (NYSE: RMAX) was downgraded from a “hold” rating to a “sell” rating by Zacks Investment Research in a research note released on Friday, reports Zacks.com.
According to Zacks, “Re / Max Holdings, Inc. is a real estate brokerage franchisor. Re / Max Holdings, Inc. is based in Denver, CO.”
A number of other analysts have also rated the company. Compass Point downgraded RE / MAX from a “buy” rating to a “neutral” rating and set a price target of $ 44.00 for the company. in a research report on Monday. They discovered that the move was a call for evaluation. JPMorgan Chase & Co. upgraded RE / MAX in a research note on Monday, December 21st, from an “underweight” rating to a “neutral” rating and raised the price target for the company from USD 27.00 to USD 36.00 elevated. Finally, Morgan Stanley raised its target price for RE / MAX from USD 37.00 to USD 40.00 and gave the company an “overweight” rating in a research note on Tuesday, January 5th. An investment analyst has rated the stock with a sell rating, three with a hold rating and two with a buy rating. The company has an average rating of “Hold” and a consensus target of $ 40.00.
The shares of RMAX opened at $ 37.85 on Friday. The company has a market cap of $ 702.38 million, a P / E of 54.86, and a beta of 1.55. The stock has a 50-day simple moving average of $ 39.27 and a two-hundred-day simple moving average of $ 35.63. The company has a leverage ratio of 1.98, a current of 2.24, and a fast of 2.24. RE / MAX has a 1-year low of $ 14.40 and a 1-year high of $ 43.85.
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RE / MAX (NYSE: RMAX) last released its earnings results on Thursday, February 25th. The financial services company reported earnings per share of $ 0.47 for the quarter, beating Thomson Reuters’ consensus estimate of $ 0.33 by $ 0.14. RE / MAX had a return on equity of 44.11% and a net margin of 4.80%. On average, stock analysts expect RE / MAX to achieve earnings per share of 1.54 this year.
In related news, CAO Brett A. Ritchie sold 2,670 shares in the company in a transaction on Monday, January 25. The stock was sold at an average price of $ 40.00 for a total value of $ 106,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission and available at this hyperlink. Insiders have sold 3,204 shares in the company for $ 128,507 in the past ninety days. Currently, 2.67% of the shares are owned by insiders.
A number of hedge funds have recently changed their positions in RMAX. KBC Group NV increased its stake in RE / MAX by 59.7% in the third quarter. KBC Group NV now owns 29,833 shares in the financial services company valued at USD 977,000 after purchasing a further 11,152 shares during the reporting period. Comerica Bank increased its stake in RE / MAX by 32.8% in the third quarter. Comerica Bank now owns 119,559 shares in the financial services company, valued at $ 4,194,000, after purchasing an additional 29,528 shares last quarter. BNP Paribas Arbitrage SA increased its stake in RE / MAX 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. The Oregon Public Employees Retirement Fund increased its stake in RE / MAX by 4.9% in the third quarter. The Oregon Public Employees Retirement Fund now owns 7,422 shares in the financial services company, valued at $ 243,000, after purchasing an additional 350 shares last quarter. Finally, the California Public Employees Retirement System increased its stake in RE / MAX by 4.4% in the third quarter. The California Public Employees Retirement System now owns 42,356 shares in the financial services company, valued at $ 1,386,000, after purchasing an additional 1,804 shares last quarter. 95.47% of the shares belong to institutional investors.
About RE / MAX
RE / MAX Holdings, Inc operates as a franchisor of real estate and mortgage brokerage services 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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