Realogy Holdings Corp. (RLGY) Downgraded by Zacks Investment Research to “Hold”
Zacks Investment Research cut shares of Realogy Holdings Corp. (NYSE:RLGY) from a buy rating to a hold rating in a report published on Wednesday.
According to Zacks, “Realogy Holdings Corp. is a provider of real estate services. The Company through its subsidiaries provides real estate brokerage services, relocation services, and title and settlement services. The Company’s brands and business units include Better Homes and Gardens(R) Real Estate, CENTURY 21(R), Coldwell Banker(R), Coldwell Banker Commercial(R), The Corcoran Group(R), ERA(R), Sotheby’s International Realty(R), NRT LLC, Cartus and Title Resource Group. Realogy Holdings Corp. is headquartered in Parsippany, New Jersey. “
Several other equities research analysts have also recently issued reports on the stock. Wedbush raised their target price on shares of Realogy Holdings Corp. from $32.00 to $37.00 and gave the stock an outperform rating in a research report on Wednesday, July 12th. TheStreet raised shares of Realogy Holdings Corp. from a c+ rating to a b rating in a research report on Wednesday, August 9th. BidaskClub cut shares of Realogy Holdings Corp. from a buy rating to a hold rating in a research report on Friday, October 13th. Keefe, Bruyette & Woods reissued a buy rating and issued a $38.00 target price on shares of Realogy Holdings Corp. in a research report on Friday, September 29th. Finally, Barclays PLC reissued an underweight rating on shares of Realogy Holdings Corp. in a research report on Thursday, July 13th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. Realogy Holdings Corp. currently has a consensus rating of Hold and an average target price of $34.75.
Realogy Holdings Corp. (NYSE:RLGY) last released its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.03. Realogy Holdings Corp. had a net margin of 4.06% and a return on equity of 9.53%. The company had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same period last year, the company earned $0.74 EPS. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year.
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In related news, SVP Timothy B. Gustavson sold 3,093 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $34.84, for a total value of $107,760.12. Following the transaction, the senior vice president now owns 8,705 shares in the company, valued at $303,282.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.80% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. raised its holdings in Realogy Holdings Corp. by 21.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 699,436 shares of the financial services provider’s stock valued at $20,837,000 after buying an additional 121,704 shares during the period. Principal Financial Group Inc. purchased a new position in Realogy Holdings Corp. in the first quarter valued at approximately $572,000. Bank of America Corp DE raised its holdings in Realogy Holdings Corp. by 31.4% in the first quarter. Bank of America Corp DE now owns 548,853 shares of the financial services provider’s stock valued at $16,350,000 after buying an additional 131,081 shares during the period. River Road Asset Management LLC raised its holdings in Realogy Holdings Corp. by 1.1% in the second quarter. River Road Asset Management LLC now owns 636,312 shares of the financial services provider’s stock valued at $20,648,000 after buying an additional 6,694 shares during the period. Finally, Palo Capital Inc. purchased a new position in Realogy Holdings Corp. in the second quarter valued at approximately $445,000.
About Realogy Holdings Corp.
Realogy Holdings Corp. is an integrated provider of residential real estate services in the United States. The Company is the franchisor of residential real estate brokerages with some of the recognized brands in the real estate industry, the owner of United States residential real estate brokerage offices, the global provider of outsourced employee relocation services and a provider of title and settlement services.
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