RE/MAX Holdings, Inc. (RMAX) Cut to “Buy” at BidaskClub

RE/MAX Holdings, Inc. (NYSE:RMAX) was downgraded by stock analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report released on Wednesday.

A number of other research analysts have also recently commented on RMAX. Zacks Investment Research cut shares of RE/MAX Holdings from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Stephens cut shares of RE/MAX Holdings from an “overweight” rating to an “equal weight” rating and set a $66.00 target price on the stock. in a research report on Monday, August 7th. Craig Hallum started coverage on shares of RE/MAX Holdings in a research report on Wednesday, August 30th. They issued a “buy” rating and a $75.00 target price on the stock. Finally, Piper Jaffray Companies started coverage on shares of RE/MAX Holdings in a research report on Thursday, September 28th. They issued an “overweight” rating and a $69.00 target price on the stock. Three analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. RE/MAX Holdings has an average rating of “Hold” and an average price target of $64.67.

Shares of RE/MAX Holdings (NYSE:RMAX) opened at 66.50 on Wednesday. The company has a market cap of $1.18 billion, a price-to-earnings ratio of 50.46 and a beta of 0.93. RE/MAX Holdings has a one year low of $42.18 and a one year high of $67.50. The company’s 50-day moving average is $64.39 and its 200-day moving average is $59.42.

RE/MAX Holdings (NYSE:RMAX) last posted its 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. RE/MAX Holdings had a net margin of 12.45% and a return on equity of 79.94%. The company had revenue of $48.82 million for the quarter, compared to analysts’ expectations of $48.29 million. During the same quarter in the prior year, the company posted $0.46 earnings per share. RE/MAX Holdings’s revenue for the quarter was up 12.5% compared to the same quarter last year. On average, equities analysts predict that RE/MAX Holdings will post $1.90 EPS for the current year.

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In other RE/MAX Holdings news, President Geoffrey D. Lewis sold 1,200 shares of the company’s 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.58% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of RMAX. UBS Asset Management Americas Inc. acquired a new stake in shares of RE/MAX Holdings during the first quarter worth about $269,000. Parametric Portfolio Associates LLC lifted its position in shares of RE/MAX Holdings by 5.6% during the first quarter. Parametric Portfolio Associates LLC now owns 27,786 shares of the financial services provider’s stock worth $1,652,000 after purchasing an additional 1,463 shares in the last quarter. Prudential Financial Inc. lifted its position in shares of RE/MAX Holdings by 0.6% during the first quarter. Prudential Financial Inc. now owns 32,530 shares of the financial services provider’s stock worth $1,934,000 after purchasing an additional 200 shares in the last quarter. Municipal Employees Retirement System of Michigan lifted its position in shares of RE/MAX Holdings by 1.1% during the first quarter. Municipal Employees Retirement System of Michigan now owns 5,680 shares of the financial services provider’s stock worth $338,000 after purchasing an additional 60 shares in the last quarter. Finally, OppenheimerFunds Inc. lifted its position in shares of RE/MAX Holdings by 18.1% during the first quarter. OppenheimerFunds Inc. now owns 9,179 shares of the financial services provider’s stock worth $546,000 after purchasing an additional 1,404 shares in the last quarter.

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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