Zacks Investment Research Upgrades Re/Max (RMAX) to Hold

Zacks Investment Research upgraded shares of Re/Max (NYSE:RMAX) from a sell rating to a hold rating in a research report sent to investors on Tuesday.

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 analysts have also recently weighed in on the stock. Bank of America cut shares of Re/Max to a sell rating and set a $56.00 price target on the stock. in a research note on Thursday, December 20th. TheStreet cut shares of Re/Max from a b- rating to a c+ rating in a research note on Friday, October 12th. Morgan Stanley upgraded shares of Re/Max from an equal weight rating to an overweight rating and set a $36.00 price target on the stock in a research note on Monday, November 19th. Stephens dropped their price target on shares of Re/Max from $60.00 to $41.00 and set an equal weight rating on the stock in a research note on Monday, November 5th. Finally, Craig Hallum set a $50.00 price target on shares of Re/Max and gave the stock a buy rating in a research note on Monday, November 5th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $53.88.

Shares of RMAX stock opened at $36.31 on Tuesday. Re/Max has a 12-month low of $27.84 and a 12-month high of $61.27. The company has a debt-to-equity ratio of 3.17, a quick ratio of 5.51 and a current ratio of 5.51. The company has a market capitalization of $623.06 million, a P/E ratio of 19.42, a P/E/G ratio of 2.42 and a beta of 0.62.

Re/Max (NYSE:RMAX) last issued its earnings results on Thursday, November 1st. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by ($0.06). The company had revenue of $54.90 million during the quarter, compared to analysts’ expectations of $55.80 million. Re/Max had a return on equity of 90.23% and a net margin of 8.19%. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.47 EPS. As a group, equities analysts predict that Re/Max will post 2.02 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Confluence Investment Management LLC lifted its stake in shares of Re/Max by 6.8% during the 4th quarter. Confluence Investment Management LLC now owns 130,169 shares of the financial services provider’s stock valued at $4,003,000 after buying an additional 8,326 shares in the last quarter. Teachers Advisors LLC increased its holdings in Re/Max by 3.4% in the 3rd quarter. Teachers Advisors LLC now owns 35,531 shares of the financial services provider’s stock valued at $1,576,000 after acquiring an additional 1,159 shares during the last quarter. Vanguard Group Inc increased its holdings in Re/Max by 7.9% in the 3rd quarter. Vanguard Group Inc now owns 1,978,312 shares of the financial services provider’s stock valued at $87,738,000 after acquiring an additional 145,307 shares during the last quarter. Marshall Wace North America L.P. bought a new stake in Re/Max in the 3rd quarter valued at $935,000. Finally, Marshall Wace LLP bought a new stake in Re/Max in the 3rd quarter valued at $252,000. Institutional investors own 99.57% of the company’s stock.

About Re/Max

RE/MAX Holdings, Inc operates as a franchisor of real estate and mortgage brokerage services in the United States, Canada, and internationally. The company offers its real estate franchise services under the RE/MAX brand name; and mortgage brokerage services under the Motto Mortgage brand. The company was founded in 1973 and is headquartered in Denver, Colorado.

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