RE/MAX Holdings Inc. (NYSE:RMAX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The firm presently has a $49.00 target price on the stock. Zacks Investment Research’s price target suggests a potential upside of 12.88% from the stock’s current price.
According to Zacks, “Re/Max Holdings, Inc. is a franchisor of real estate brokerage services. Re/Max Holdings, Inc. is based in Denver, CO. “
Separately, Keefe, Bruyette & Woods lifted their price target on shares of RE/MAX Holdings from $34.00 to $41.00 and gave the stock a “market perform” rating in a report on Monday, August 8th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $42.67.
RE/MAX Holdings (NYSE:RMAX) opened at 43.41 on Wednesday. The firm has a market capitalization of $765.97 million, a PE ratio of 32.23 and a beta of 0.88. RE/MAX Holdings has a 52-week low of $30.22 and a 52-week high of $44.34. The stock’s 50 day moving average price is $42.19 and its 200 day moving average price is $39.71.
RE/MAX Holdings (NYSE:RMAX) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. The company had revenue of $43.40 million for the quarter, compared to analysts’ expectations of $40.31 million. RE/MAX Holdings had a net margin of 11.87% and a return on equity of 98.41%. RE/MAX Holdings’s revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.47 EPS. On average, analysts predict that RE/MAX Holdings will post $3.80 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 31st. Shareholders of record on Wednesday, August 17th were issued a dividend of $0.15 per share. The ex-dividend date was Monday, August 15th. This represents a $0.60 dividend on an annualized basis and a yield of 1.38%. RE/MAX Holdings’s payout ratio is 44.78%.
A number of large investors have recently modified their holdings of RMAX. BlackRock Fund Advisors boosted its stake in shares of RE/MAX Holdings by 242.8% in the first quarter. BlackRock Fund Advisors now owns 962,582 shares of the company’s stock worth $33,017,000 after buying an additional 681,806 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of RE/MAX Holdings by 56.7% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,168,570 shares of the company’s stock worth $47,047,000 after buying an additional 422,626 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of RE/MAX Holdings by 32.7% in the second quarter. Dimensional Fund Advisors LP now owns 395,025 shares of the company’s stock worth $15,903,000 after buying an additional 97,397 shares during the last quarter. Emerald Acquisition Ltd. acquired a new stake in shares of RE/MAX Holdings during the second quarter worth about $3,340,000. Finally, State Street Corp boosted its stake in shares of RE/MAX Holdings by 25.7% in the second quarter. State Street Corp now owns 302,727 shares of the company’s stock worth $12,186,000 after buying an additional 61,836 shares during the last quarter.
About RE/MAX Holdings
RE/MAX Holdings, Inc is a franchisor of real estate brokerage services. The Company is engaged in the business of recruiting and retaining agents, and selling franchises. The Company operates in two segments: Real Estate Franchise Services and Brokerages. The Real Estate Franchise Services segment comprises the operations of its owned and independent global franchising operations, and corporate-wide professional services expenses.
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