Zacks Investment Research Lowers RE/MAX Holdings, Inc. (RMAX) to Hold
RE/MAX Holdings, Inc. (NYSE:RMAX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors 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. “
Several other research firms have also recently weighed in on RMAX. BidaskClub upgraded shares of RE/MAX Holdings from a “hold” rating to a “buy” rating in a research report on Saturday, July 1st. Bank of America Corporation cut shares of RE/MAX Holdings from a “neutral” rating to an “underperform” rating and set a $56.00 price objective on the stock. in a research report on Friday, June 30th. Finally, Stephens cut shares of RE/MAX Holdings from an “overweight” rating to an “equal weight” rating and set a $66.00 price objective on the stock. in a research report on Monday. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. RE/MAX Holdings has an average rating of “Hold” and a consensus price target of $61.00.
RE/MAX Holdings (NYSE:RMAX) opened at 62.20 on Thursday. RE/MAX Holdings has a 12-month low of $40.41 and a 12-month high of $66.10. The firm’s 50-day moving average price is $58.01 and its 200-day moving average price is $56.97. The company has a market cap of $1.10 billion, a PE ratio of 48.33 and a beta of 0.93.
RE/MAX Holdings (NYSE:RMAX) last posted its quarterly earnings data on Thursday, August 3rd. The financial services provider reported $0.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.06. The firm had revenue of $48.82 million for the quarter, compared to analysts’ expectations of $48.29 million. RE/MAX Holdings had a net margin of 12.45% and a return on equity of 79.94%. The business’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the company posted $0.46 EPS. Equities research analysts forecast that RE/MAX Holdings will post $1.90 earnings per share for the current fiscal year.
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In related news, President Geoffrey D. Lewis sold 1,200 shares of the stock in a transaction on Friday, August 4th. The shares were sold at an average price of $60.00, for a total transaction of $72,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.58% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in RMAX. Glen Harbor Capital Management LLC raised its position in RE/MAX Holdings by 127.3% in the first quarter. Glen Harbor Capital Management LLC now owns 1,700 shares of the financial services provider’s stock valued at $101,000 after buying an additional 952 shares in the last quarter. State of Alaska Department of Revenue raised its position in RE/MAX Holdings by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 1,950 shares of the financial services provider’s stock valued at $115,000 after buying an additional 40 shares in the last quarter. Sei Investments Co. raised its position in 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 valued at $149,000 after buying an additional 153 shares in the last quarter. Victory Capital Management Inc. acquired a new position in RE/MAX Holdings during the first quarter valued at approximately $159,000. Finally, Aperio Group LLC acquired a new position in RE/MAX Holdings during the second quarter valued at approximately $211,000.
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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