RE/MAX (NYSE:RMAX) Given New $9.00 Price Target at Keefe, Bruyette & Woods

RE/MAX (NYSE:RMAX) had its target price cut by investment analysts at Keefe, Bruyette & Woods from $10.00 to $9.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 16.50% from the company’s current price.

Separately, StockNews.com raised RE/MAX from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 27th.

RE/MAX Stock Up 2.6 %

RMAX stock opened at $7.73 on Monday. RE/MAX has a twelve month low of $6.90 and a twelve month high of $14.31. The company has a market cap of $146.64 million, a PE ratio of 22.07 and a beta of 1.25. The business’s 50-day simple moving average is $8.23 and its 200 day simple moving average is $10.22.

RE/MAX (NYSE:RMAX) last issued its earnings results on Thursday, February 20th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.10). RE/MAX had a negative return on equity of 38.69% and a net margin of 2.32%. The company had revenue of $72.47 million during the quarter, compared to analyst estimates of $74.34 million. On average, equities research analysts anticipate that RE/MAX will post 0.89 EPS for the current year.

Hedge Funds Weigh In On RE/MAX

A number of institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in RE/MAX by 913.8% during the first quarter. GAMMA Investing LLC now owns 15,978 shares of the financial services provider’s stock worth $134,000 after buying an additional 14,402 shares during the last quarter. Two Sigma Advisers LP increased its holdings in shares of RE/MAX by 19.3% during the 4th quarter. Two Sigma Advisers LP now owns 17,300 shares of the financial services provider’s stock worth $185,000 after acquiring an additional 2,800 shares during the last quarter. Two Sigma Investments LP raised its stake in RE/MAX by 7.7% in the 4th quarter. Two Sigma Investments LP now owns 50,505 shares of the financial services provider’s stock valued at $539,000 after acquiring an additional 3,590 shares during the period. State of Wyoming acquired a new stake in RE/MAX during the 4th quarter valued at $91,000. Finally, Sherbrooke Park Advisers LLC bought a new position in RE/MAX during the fourth quarter worth $183,000. 93.17% of the stock is currently owned by institutional investors and hedge funds.

About RE/MAX

RE/MAX Holdings, Inc operates as a franchisor of real estate brokerage services in the United States, Canada, and internationally. It operates through Real Estate, Mortgage, and Marketing Funds segments. The company offers real estate brokerage franchising services under the RE/MAX brand; mortgage brokerage services to real estate brokers, real estate professionals, mortgage professionals, and other investors under the Motto Mortgage brand; and mortgage loan processing software and services under the wemlo brand.