Zacks Investment Research upgraded shares of RE/MAX Holdings, Inc. (NYSE:RMAX) from a hold rating to a buy rating in a research note released on Wednesday morning. Zacks Investment Research currently has $69.00 price objective on the financial services provider’s stock.
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 research firms also recently issued reports on RMAX. BidaskClub raised 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 downgraded shares of RE/MAX Holdings from a neutral rating to an underperform rating and set a $56.00 target price for the company. in a research report on Friday, June 30th. Finally, Stephens downgraded shares of RE/MAX Holdings from an overweight rating to an equal weight rating and set a $66.00 target price for the company. in a research report on Monday, August 7th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $61.00.
Shares of RE/MAX Holdings (RMAX) opened at 60.15 on Wednesday. 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 is $58.31 and its 200-day moving average is $57.04. The firm has a market capitalization of $1.06 billion, a PE ratio of 45.64 and a beta of 0.93.
RE/MAX Holdings (NYSE:RMAX) last announced its quarterly earnings data on Thursday, August 3rd. The financial services provider reported $0.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.06. The business had revenue of $48.82 million for 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%. The company’s revenue was up 12.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.46 EPS. On average, analysts expect that RE/MAX Holdings will post $1.90 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 30th. Shareholders of record on Wednesday, August 16th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.20%. The ex-dividend date is Monday, August 14th. RE/MAX Holdings’s dividend payout ratio (DPR) is 54.96%.
In other RE/MAX Holdings news, President Geoffrey D. Lewis sold 1,200 shares of the stock in a transaction that occurred on 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 Securities & Exchange Commission, which is accessible through the SEC website. 0.58% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of the stock. Bank of Montreal Can increased its stake in shares of RE/MAX Holdings by 108.2% in the first quarter. Bank of Montreal Can now owns 9,980 shares of the financial services provider’s stock valued at $593,000 after buying an additional 5,187 shares during the period. Great Lakes Advisors LLC increased its stake in shares of RE/MAX Holdings by 19.7% in the first quarter. Great Lakes Advisors LLC now owns 22,673 shares of the financial services provider’s stock valued at $1,348,000 after buying an additional 3,733 shares during the period. O Shaughnessy Asset Management LLC increased its stake in shares of RE/MAX Holdings by 836,300.0% in the first quarter. O Shaughnessy Asset Management LLC now owns 25,092 shares of the financial services provider’s stock valued at $1,492,000 after buying an additional 25,089 shares during the period. Glen Harbor Capital Management LLC increased its stake in shares of 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 during the period. Finally, Louisiana State Employees Retirement System increased its stake in shares of RE/MAX Holdings by 1.4% in the first quarter. Louisiana State Employees Retirement System now owns 7,200 shares of the financial services provider’s stock valued at $428,000 after buying an additional 100 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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