RE/MAX Holdings, Inc. (NYSE:RMAX) was upgraded by stock analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a report issued on Friday.
Several other equities research analysts have also weighed in on the company. Zacks Investment Research lowered RE/MAX Holdings from a “buy” rating to a “hold” rating in a research report on Thursday. Stephens lowered RE/MAX Holdings from an “overweight” rating to an “equal weight” rating and set a $66.00 target price on the stock. in a research report on Monday. Finally, Bank of America Corporation lowered RE/MAX Holdings from a “neutral” rating to an “underperform” rating and set a $56.00 target price on the stock. in a research report on Friday, June 30th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $61.00.
Shares of RE/MAX Holdings (RMAX) traded down 0.33% during mid-day trading on Friday, hitting $60.70. 38,082 shares of the stock were exchanged. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of 46.05 and a beta of 0.93. RE/MAX Holdings has a 12 month low of $40.41 and a 12 month high of $66.10. The company has a 50-day moving average price of $58.18 and a 200-day moving average price of $57.00.
RE/MAX Holdings (NYSE:RMAX) last announced its earnings results on Thursday, August 3rd. The financial services provider reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.06. RE/MAX Holdings had a return on equity of 79.94% and a net margin of 12.45%. The company had revenue of $48.82 million during the quarter, compared to analysts’ expectations of $48.29 million. During the same period last year, the business posted $0.46 EPS. RE/MAX Holdings’s revenue for the quarter was up 12.5% on a year-over-year basis. Equities analysts expect that RE/MAX Holdings will post $1.90 earnings per share for the current year.
In other RE/MAX Holdings news, President Geoffrey D. Lewis sold 1,200 shares of RE/MAX Holdings stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $60.00, for a total transaction of $72,000.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.58% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RMAX. BlackRock Inc. raised its position in RE/MAX Holdings by 27,449.3% in the first quarter. BlackRock Inc. now owns 2,300,092 shares of the financial services provider’s stock valued at $136,741,000 after buying an additional 2,291,743 shares during the period. Teachers Advisors LLC raised its position in RE/MAX Holdings by 428.7% in the first quarter. Teachers Advisors LLC now owns 155,769 shares of the financial services provider’s stock valued at $9,260,000 after buying an additional 126,307 shares during the period. Bank of New York Mellon Corp raised its position in RE/MAX Holdings by 29.2% in the first quarter. Bank of New York Mellon Corp now owns 446,973 shares of the financial services provider’s stock valued at $26,574,000 after buying an additional 101,083 shares during the period. American Century Companies Inc. purchased a new position in RE/MAX Holdings during the second quarter valued at approximately $4,529,000. Finally, Vanguard Group Inc. raised its position in RE/MAX Holdings by 9.7% in the first quarter. Vanguard Group Inc. now owns 855,962 shares of the financial services provider’s stock valued at $50,887,000 after buying an additional 75,595 shares during the period.
About RE/MAX Holdings
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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