Zacks Investment Research Downgrades RE/MAX Holdings, Inc. (RMAX) to Sell
RE/MAX Holdings, Inc. (NYSE:RMAX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Thursday.
According to Zacks, “Re/Max Holdings, Inc. is a franchisor of real estate brokerage services. Re/Max Holdings, Inc. is based in Denver, CO. “
A number of other equities research analysts have also commented on the company. Piper Jaffray Companies assumed coverage on RE/MAX Holdings in a research report on Thursday, September 28th. They issued an “overweight” rating and a $69.00 price target for the company. BidaskClub raised RE/MAX Holdings from a “hold” rating to a “buy” rating in a research report on Tuesday, September 26th. Craig Hallum assumed coverage on RE/MAX Holdings in a research report on Wednesday, August 30th. They issued a “buy” rating and a $75.00 price target for the company. Stephens lowered 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 report on Monday, August 7th. Finally, Bank of America Corporation lowered RE/MAX Holdings from a “neutral” rating to an “underperform” rating and set a $56.00 price target for the company. in a research report on Friday, June 30th. Three analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $64.67.
Shares of RE/MAX Holdings (RMAX) opened at 64.75 on Thursday. The firm has a market capitalization of $1.15 billion, a P/E ratio of 49.13 and a beta of 0.93. The stock has a 50 day moving average of $61.58 and a 200-day moving average of $58.27. RE/MAX Holdings has a 12-month low of $41.48 and a 12-month high of $66.10.
RE/MAX Holdings (NYSE:RMAX) last released its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $0.54 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 79.94% and a net margin of 12.45%. RE/MAX Holdings’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.46 EPS. On average, equities research analysts predict that RE/MAX Holdings will post $1.90 EPS for the current fiscal year.
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In other news, President Geoffrey D. Lewis sold 1,200 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $60.00, for a total transaction of $72,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.58% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Suntrust Banks Inc. grew its stake in shares of RE/MAX Holdings by 0.5% during the 2nd quarter. Suntrust Banks Inc. now owns 8,606 shares of the financial services provider’s stock worth $481,000 after acquiring an additional 45 shares during the period. Municipal Employees Retirement System of Michigan grew its stake in shares of RE/MAX Holdings by 1.1% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 5,680 shares of the financial services provider’s stock worth $338,000 after acquiring an additional 60 shares during the period. Stifel Financial Corp grew its stake in shares of RE/MAX Holdings by 0.3% during the 2nd quarter. Stifel Financial Corp now owns 23,419 shares of the financial services provider’s stock worth $1,313,000 after acquiring an additional 61 shares during the period. Arizona State Retirement System grew its stake in shares of RE/MAX Holdings by 1.1% during the 1st quarter. Arizona State Retirement System now owns 9,200 shares of the financial services provider’s stock worth $547,000 after acquiring an additional 100 shares during the period. Finally, Texas Permanent School Fund grew its stake in shares of RE/MAX Holdings by 1.1% during the 2nd quarter. Texas Permanent School Fund now owns 12,921 shares of the financial services provider’s stock worth $724,000 after acquiring an additional 140 shares during the period.
About RE/MAX Holdings
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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