RE/MAX (RMAX) Downgraded by Zacks Investment Research
RE/MAX (NYSE:RMAX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
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 equities analysts also recently commented on RMAX. BidaskClub upgraded shares of RE/MAX from a “hold” rating to a “buy” rating in a report on Tuesday, September 26th. Compass Point upgraded shares of RE/MAX from a “sell” rating to a “neutral” rating in a research note on Saturday, December 30th. Piper Jaffray Companies began coverage on shares of RE/MAX in a research note on Thursday, September 28th. They issued an “overweight” rating and a $69.00 price target on the stock. Finally, JPMorgan Chase & Co. downgraded shares of RE/MAX from a “neutral” rating to an “underweight” rating and set a $51.00 price target on the stock. in a research note on Friday, December 15th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. RE/MAX presently has a consensus rating of “Hold” and a consensus target price of $61.43.
Large investors have recently added to or reduced their stakes in the business. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of RE/MAX by 2.1% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,582,633 shares of the financial services provider’s stock worth $100,576,000 after buying an additional 33,116 shares during the period. Vanguard Group Inc. lifted its holdings in shares of RE/MAX by 2.7% in the 2nd 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 in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of RE/MAX by 8.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 682,427 shares of the financial services provider’s stock worth $43,369,000 after purchasing an additional 54,283 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of RE/MAX by 5.6% in the 2nd 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 in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of RE/MAX by 0.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 458,572 shares of the financial services provider’s stock worth $29,142,000 after purchasing an additional 1,551 shares in the last quarter.
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RE/MAX 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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