Re/Max (RMAX) Upgraded by Zacks Investment Research to Hold
Zacks Investment Research upgraded shares of Re/Max (NYSE:RMAX) from a sell rating to a hold rating in a research note issued to investors on Tuesday.
According to Zacks, “Re/Max Holdings, Inc. is a franchisor of real estate brokerage services. Re/Max Holdings, Inc. is based in Denver, CO. “
Other equities research analysts have also issued reports about the stock. Bank of America lowered shares of Re/Max to a sell rating and set a $56.00 price objective for the company. in a report on Thursday, December 20th. Craig Hallum set a $50.00 price objective on shares of Re/Max and gave the stock a buy rating in a report on Monday, November 5th. Morgan Stanley upgraded shares of Re/Max from an equal weight rating to an overweight rating and set a $36.00 price objective for the company in a report on Monday, November 19th. Stephens lowered their price objective on shares of Re/Max from $60.00 to $41.00 and set an equal weight rating for the company in a report on Monday, November 5th. Finally, TheStreet lowered shares of Re/Max from a b- rating to a c+ rating in a report on Friday, October 12th. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. The stock has an average rating of Hold and an average target price of $53.88.
Re/Max (NYSE:RMAX) last announced its quarterly earnings data on Thursday, November 1st. The financial services provider reported $0.53 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($0.06). The business had revenue of $54.90 million during the quarter, compared to the consensus estimate of $55.80 million. Re/Max had a return on equity of 90.23% and a net margin of 8.19%. The company’s revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.47 earnings per share. As a group, equities research analysts predict that Re/Max will post 2.02 earnings per share for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Engineers Gate Manager LP increased its stake in shares of Re/Max by 19.4% in the third quarter. Engineers Gate Manager LP now owns 17,235 shares of the financial services provider’s stock worth $764,000 after buying an additional 2,804 shares during the period. SG Americas Securities LLC increased its stake in shares of Re/Max by 254.2% in the second quarter. SG Americas Securities LLC now owns 6,432 shares of the financial services provider’s stock worth $337,000 after buying an additional 4,616 shares during the period. Marshall Wace LLP purchased a new position in Re/Max during the 3rd quarter valued at $252,000. Wells Fargo & Company MN increased its position in Re/Max by 1.0% during the 3rd quarter. Wells Fargo & Company MN now owns 241,922 shares of the financial services provider’s stock valued at $10,729,000 after purchasing an additional 2,399 shares during the period. Finally, Northern Trust Corp increased its position in Re/Max by 1.6% during the 2nd quarter. Northern Trust Corp now owns 212,494 shares of the financial services provider’s stock valued at $11,145,000 after purchasing an additional 3,358 shares during the period. 99.57% of the stock is currently owned by institutional investors.
RE/MAX Holdings, Inc operates as a franchisor of real estate and mortgage brokerage services in the United States, Canada, and internationally. The company offers its real estate franchise services under the RE/MAX brand name; and mortgage brokerage services under the Motto Mortgage brand. The company was founded in 1973 and is headquartered in Denver, Colorado.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Re/Max Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Re/Max and related companies with MarketBeat.com's FREE daily email newsletter.