RE/MAX Holdings, Inc. (RMAX) Stock Rating Lowered by Stephens
RE/MAX Holdings, Inc. (NYSE:RMAX) was downgraded by analysts at Stephens from an “overweight” rating to an “equal weight” rating in a research report issued on Monday. They currently have a $66.00 target price on the financial services provider’s stock. Stephens’ target price indicates a potential upside of 6.11% from the stock’s previous close.
RMAX has been the topic of several other research reports. Keefe, Bruyette & Woods set a $53.00 price objective on shares of RE/MAX Holdings and gave the company a “hold” rating in a research report on Monday, April 10th. BidaskClub upgraded shares of RE/MAX Holdings from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Zacks Investment Research cut shares of RE/MAX Holdings from a “buy” rating to a “hold” rating in a research report on Friday, May 5th. Finally, 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. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $59.33.
Shares of RE/MAX Holdings (NYSE RMAX) traded up 0.16% during trading on Monday, hitting $62.20. 84,403 shares of the stock were exchanged. The firm has a 50 day moving average of $57.39 and a 200-day moving average of $56.79. RE/MAX Holdings has a 52-week low of $40.41 and a 52-week high of $66.10. The stock 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 released 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 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 company’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.46 earnings per share. Equities research analysts anticipate that RE/MAX Holdings will post $1.90 earnings per share for the current fiscal year.
In other RE/MAX Holdings news, President Geoffrey D. Lewis sold 1,200 shares of the business’s 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 legal filing with the SEC, which is available at the SEC website. Insiders own 0.58% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of RMAX. Kayne Anderson Rudnick Investment Management LLC boosted its position in RE/MAX Holdings by 2.5% in 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 buying an additional 37,840 shares during the period. Principal Financial Group Inc. boosted its position in RE/MAX Holdings by 2.4% in the second quarter. Principal Financial Group Inc. now owns 149,093 shares of the financial services provider’s stock worth $8,357,000 after buying an additional 3,543 shares during the period. Great Lakes Advisors LLC boosted its position in RE/MAX Holdings by 22.2% in the second quarter. Great Lakes Advisors LLC now owns 27,698 shares of the financial services provider’s stock worth $1,552,000 after buying an additional 5,025 shares during the period. American Century Companies Inc. purchased a new position in RE/MAX Holdings during the second quarter worth $4,529,000. Finally, Victory Capital Management Inc. boosted its position in RE/MAX Holdings by 17.5% in the second quarter. Victory Capital Management Inc. now owns 3,150 shares of the financial services provider’s stock worth $177,000 after buying an additional 470 shares during the period.
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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