Zacks Investment Research downgraded shares of RE/MAX Holdings, Inc. (NYSE:RMAX) from a hold rating to a sell rating in a research note released on Thursday morning.
According to Zacks, “Re/Max Holdings, Inc. is a franchisor of real estate brokerage services. Re/Max Holdings, Inc. is based in Denver, CO. “
Other analysts have also recently issued reports about the company. Craig Hallum started coverage on RE/MAX Holdings in a research note on Wednesday, August 30th. They issued a buy rating and a $75.00 price objective on the stock. BidaskClub cut RE/MAX Holdings from a strong-buy rating to a buy rating in a research note on Thursday, August 17th. Stephens cut RE/MAX Holdings from an overweight rating to an equal weight rating and set a $66.00 price target on the stock. in a research note on Monday, August 7th. Piper Jaffray Companies began coverage on RE/MAX Holdings in a research note on Thursday, September 28th. They issued an overweight rating and a $69.00 price target on the stock. Finally, Bank of America Corporation cut RE/MAX Holdings from a neutral rating to an underperform rating and set a $56.00 price target on the stock. in a research note on Friday, June 30th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. RE/MAX Holdings has an average rating of Hold and a consensus target price of $64.67.
RE/MAX Holdings (NYSE RMAX) opened at 64.75 on Thursday. The stock has a market capitalization of $1.15 billion, a P/E ratio of 49.13 and a beta of 0.93. RE/MAX Holdings has a one year low of $41.48 and a one year high of $66.10. The stock has a 50 day moving average price of $61.58 and a 200-day moving average price of $58.27.
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 (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.06. The business had revenue of $48.82 million for the quarter, compared to analysts’ expectations of $48.29 million. RE/MAX Holdings had a return on equity of 79.94% and a net margin of 12.45%. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period last year, the firm earned $0.46 earnings per share. Analysts anticipate that RE/MAX Holdings will post $1.90 earnings per share for the current year.
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In other RE/MAX Holdings 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 value of $72,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.58% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. raised its stake in RE/MAX Holdings by 27,449.3% in the first quarter. BlackRock Inc. now owns 2,300,092 shares of the financial services provider’s stock valued at $136,741,000 after buying an additional 2,291,743 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of RE/MAX Holdings by 2.5% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,549,517 shares of the financial services provider’s stock worth $86,851,000 after purchasing an additional 37,840 shares during the last quarter. Van Berkom & Associates Inc. grew its holdings in shares of RE/MAX Holdings by 0.4% during the second quarter. Van Berkom & Associates Inc. now owns 1,125,326 shares of the financial services provider’s stock worth $63,075,000 after purchasing an additional 4,320 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of RE/MAX Holdings by 2.7% during the second quarter. Vanguard Group Inc. now owns 879,079 shares of the financial services provider’s stock worth $49,272,000 after purchasing an additional 23,117 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of RE/MAX Holdings by 5.6% during the second quarter. Renaissance Technologies LLC now owns 681,900 shares of the financial services provider’s stock worth $38,220,000 after purchasing an additional 36,400 shares during the last quarter.
RE/MAX Holdings Company Profile
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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