RE/MAX Holdings, Inc. (RMAX) Stock Rating Upgraded by BidaskClub
RE/MAX Holdings, Inc. (NYSE:RMAX) was upgraded by equities research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a report released on Friday.
Other analysts have also issued research reports about the stock. Stephens lowered shares of RE/MAX Holdings from an “overweight” rating to an “equal weight” rating and set a $66.00 price target for the company. in a research note on Monday, August 7th. Zacks Investment Research lowered shares of RE/MAX Holdings from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. Bank of America Corporation lowered shares of RE/MAX Holdings from a “neutral” rating to an “underperform” rating and set a $56.00 price target for the company. in a research note on Friday, June 30th. Piper Jaffray Companies assumed coverage on shares of RE/MAX Holdings in a research note on Thursday, September 28th. They set an “overweight” rating and a $69.00 price target for the company. Finally, Craig Hallum assumed coverage on shares of RE/MAX Holdings in a research note on Wednesday, August 30th. They set a “buy” rating and a $75.00 price target for the company. Three research analysts have rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. RE/MAX Holdings presently has an average rating of “Hold” and an average target price of $64.67.
RE/MAX Holdings (RMAX) opened at 67.00 on Friday. The company has a 50-day moving average of $63.41 and a 200-day moving average of $58.91. The company has a market cap of $1.19 billion, a P/E ratio of 50.83 and a beta of 0.93. RE/MAX Holdings has a 52-week low of $42.10 and a 52-week high of $67.45.
RE/MAX Holdings (NYSE:RMAX) last announced its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $0.54 EPS for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.06. The business had revenue of $48.82 million during the quarter, compared to analyst estimates of $48.29 million. RE/MAX Holdings had a net margin of 12.45% and a return on equity of 79.94%. RE/MAX Holdings’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.46 EPS. On average, equities research analysts expect that RE/MAX Holdings will post $1.90 earnings per share for the current fiscal year.
In other news, President Geoffrey D. Lewis sold 1,200 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $60.00, for a total value of $72,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.58% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Sei Investments Co. increased its position in shares of RE/MAX Holdings by 6.5% in the first quarter. Sei Investments Co. now owns 2,501 shares of the financial services provider’s stock worth $149,000 after purchasing an additional 153 shares during the last quarter. Victory Capital Management Inc. bought a new position in shares of RE/MAX Holdings in the first quarter worth approximately $159,000. State of Alaska Department of Revenue increased its position in shares of RE/MAX Holdings by 79.3% in the second quarter. State of Alaska Department of Revenue now owns 3,496 shares of the financial services provider’s stock worth $195,000 after purchasing an additional 1,546 shares during the last quarter. Aperio Group LLC bought a new position in shares of RE/MAX Holdings in the second quarter worth approximately $211,000. Finally, Piedmont Investment Advisors LLC bought a new position in shares of RE/MAX Holdings in the second quarter worth approximately $215,000.
RE/MAX Holdings Company Profile
RE/MAX Holdings, Inc is a franchisor in the real estate industry, franchising real estate brokerages around the world under the RE/MAX brand and mortgage brokerages within the United States under the Motto Mortgage brand. The Company is a franchised business, with all of the RE/MAX branded brokerage office locations being operated by franchisees, including RE/MAX, LLC, which owns the RE/MAX brand, and sells franchises and franchising rights; Independent Regional Franchise Owner, which owns rights to sell brokerage franchises in a specified region; Franchisee (or Broker-Owner), which operates a RE/MAX-branded brokerage office, lists properties and recruits agents, and Agent (or Sales Associate), including branded independent contractors operating out of local franchise brokerage offices.
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