RE/MAX Holdings, Inc. (RMAX) Lifted to Strong-Buy at BidaskClub
RE/MAX Holdings, Inc. (NYSE:RMAX) was upgraded by equities researchers at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued on Friday.
RMAX has been the subject of several other research reports. Craig Hallum initiated coverage on RE/MAX Holdings in a research note on Wednesday, August 30th. They set a “buy” rating and a $75.00 target price for the company. Zacks Investment Research downgraded RE/MAX Holdings from a “hold” rating to a “sell” rating in a research note on Thursday, October 5th. Piper Jaffray Companies initiated coverage on RE/MAX Holdings in a research note on Thursday, September 28th. They set an “overweight” rating and a $69.00 target price for the company. Bank of America Corporation downgraded RE/MAX Holdings from a “neutral” rating to an “underperform” rating and set a $56.00 target price for the company. in a research note on Friday, June 30th. Finally, Stephens downgraded 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 note on Monday, August 7th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $64.67.
Shares of RE/MAX Holdings (NYSE RMAX) traded up 0.07% during midday trading on Friday, reaching $67.00. 54,068 shares of the company traded hands. The stock’s 50-day moving average is $63.41 and its 200-day moving average is $58.91. RE/MAX Holdings has a 1-year low of $42.10 and a 1-year high of $67.45. The stock has a market capitalization of $1.19 billion, a P/E ratio of 50.83 and a beta of 0.93.
RE/MAX Holdings (NYSE:RMAX) last announced its earnings results on Thursday, August 3rd. The financial services provider reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.06. RE/MAX Holdings had a return on equity of 79.94% and a net margin of 12.45%. The firm had revenue of $48.82 million during the quarter, compared to the consensus estimate of $48.29 million. During the same quarter in the prior year, the company earned $0.46 EPS. The firm’s revenue for the quarter was up 12.5% compared to the same quarter last year. Equities analysts predict that RE/MAX Holdings will post $1.90 EPS for the current fiscal year.
In other RE/MAX Holdings news, President Geoffrey D. Lewis sold 1,200 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The stock was 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 available at this link. 0.58% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of the stock. Piedmont Investment Advisors LLC bought a new position in shares of RE/MAX Holdings during the 2nd quarter worth approximately $215,000. The Manufacturers Life Insurance Company lifted its position in shares of RE/MAX Holdings by 2.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,713 shares of the financial services provider’s stock worth $768,000 after buying an additional 276 shares during the period. State Street Corp lifted its position in shares of RE/MAX Holdings by 4.6% during the 2nd quarter. State Street Corp now owns 419,864 shares of the financial services provider’s stock worth $23,532,000 after buying an additional 18,611 shares during the period. Stifel Financial Corp lifted its position in shares of RE/MAX Holdings by 0.3% during the 2nd quarter. Stifel Financial Corp now owns 23,419 shares of the financial services provider’s stock worth $1,313,000 after buying an additional 61 shares during the period. Finally, Voya Investment Management LLC lifted its position in shares of RE/MAX Holdings by 24.6% during the 2nd quarter. Voya Investment Management LLC now owns 18,855 shares of the financial services provider’s stock worth $1,057,000 after buying an additional 3,726 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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