Re/Max (NYSE:RMAX) Stock Rating Lowered by Zacks Investment Research

Re/Max (NYSE:RMAX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday, 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. “

A number of other research analysts have also recently weighed in on RMAX. Stephens boosted their target price on shares of Re/Max from $31.00 to $37.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Craig Hallum upgraded shares of Re/Max from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a research note on Wednesday, August 21st. Compass Point cut shares of Re/Max from a “buy” rating to a “neutral” rating and dropped their target price for the company from $42.00 to $31.00 in a research note on Tuesday, August 6th. JMP Securities raised 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 report on Monday, September 16th. Finally, ValuEngine raised shares of Re/Max from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $39.67.

RMAX opened at $32.11 on Tuesday. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 3.07. The stock has a market cap of $553.00 million, a price-to-earnings ratio of 16.41 and a beta of 1.22. Re/Max has a twelve month low of $24.67 and a twelve month high of $44.16. The company’s 50-day moving average price is $28.63 and its two-hundred day moving average price is $32.09.

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

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its position in shares of Re/Max by 0.9% in the second quarter. BlackRock Inc. now owns 2,721,446 shares of the financial services provider’s stock valued at $83,712,000 after purchasing an additional 22,979 shares during the period. Vanguard Group Inc. raised its position in shares of Re/Max by 2.0% in the second quarter. Vanguard Group Inc. now owns 2,053,453 shares of the financial services provider’s stock valued at $63,164,000 after purchasing an additional 40,847 shares during the period. Renaissance Technologies LLC raised its position in shares of Re/Max by 6.9% in the second quarter. Renaissance Technologies LLC now owns 1,255,000 shares of the financial services provider’s stock valued at $38,604,000 after purchasing an additional 81,100 shares during the period. Deprince Race & Zollo Inc. raised its position in shares of Re/Max by 24.1% in the second quarter. Deprince Race & Zollo Inc. now owns 967,610 shares of the financial services provider’s stock valued at $29,764,000 after purchasing an additional 188,008 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of Re/Max by 13.2% in the second quarter. JPMorgan Chase & Co. now owns 756,021 shares of the financial services provider’s stock valued at $22,681,000 after purchasing an additional 88,122 shares during the period.

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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