Re/Max (NYSE:RMAX) Upgraded by Zacks Investment Research to Hold

Zacks Investment Research upgraded shares of Re/Max (NYSE:RMAX) from a sell rating to a hold rating in a report published on Thursday morning, Zacks.com reports.

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 brokerages have also issued reports on RMAX. Craig Hallum upgraded shares of Re/Max from a hold rating to a buy rating and set a $35.00 price target on the stock in a research note on Wednesday, August 21st. JMP Securities upgraded shares of Re/Max from a market perform rating to an outperform rating and set a $40.00 price target on the stock in a research note on Monday, September 16th. Compass Point lowered shares of Re/Max from a buy rating to a neutral rating and lowered their price objective for the stock from $42.00 to $31.00 in a research note on Tuesday, August 6th. Stephens boosted their price objective on shares of Re/Max from $31.00 to $37.00 and gave the stock an equal weight rating in a research note on Monday, August 5th. Finally, ValuEngine upgraded shares of Re/Max from a sell rating to a hold rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $39.67.

RMAX stock traded up $0.34 during midday trading on Thursday, hitting $30.41. The company’s stock had a trading volume of 135,232 shares, compared to its average volume of 194,161. The company has a debt-to-equity ratio of 3.07, a current ratio of 2.14 and a quick ratio of 2.14. Re/Max has a twelve month low of $24.67 and a twelve month high of $44.16. The company’s fifty day moving average price is $27.47 and its 200 day moving average price is $32.53. The stock has a market capitalization of $559.78 million, a P/E ratio of 15.05 and a beta of 1.22.

Re/Max (NYSE:RMAX) last issued its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.06. Re/Max had a net margin of 11.03% and a return on equity of 73.12%. The firm had revenue of $71.40 million for the quarter, compared to analyst estimates of $72.26 million. During the same period in the previous year, the business earned $0.62 EPS. The company’s revenue was up 31.5% compared to the same quarter last year. Equities analysts expect that Re/Max will post 1.9 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue increased its stake in shares of Re/Max by 126.7% during the 3rd quarter. State of Alaska Department of Revenue now owns 13,701 shares of the financial services provider’s stock worth $440,000 after purchasing an additional 7,657 shares during the last quarter. Macquarie Group Ltd. acquired a new position in shares of Re/Max during the 2nd quarter worth about $255,000. Royal Bank of Canada increased its stake in shares of Re/Max by 45.5% during the 2nd quarter. Royal Bank of Canada now owns 51,225 shares of the financial services provider’s stock worth $1,576,000 after purchasing an additional 16,021 shares during the last quarter. United Services Automobile Association increased its stake in shares of Re/Max by 5.3% during the 2nd quarter. United Services Automobile Association now owns 10,586 shares of the financial services provider’s stock worth $326,000 after purchasing an additional 530 shares during the last quarter. Finally, Schroder Investment Management Group acquired a new position in shares of Re/Max during the 2nd quarter worth about $3,676,000.

About Re/Max

RE/MAX Holdings, Inc operates as a franchisor of real estate and mortgage brokerage services in the United States, Canada, and internationally. The company offers its real estate franchise services under the RE/MAX brand name; and mortgage brokerage services under the Motto Mortgage brand. It also provides real estate technology solutions.

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