Zacks Investment Research Downgrades Re/Max (RMAX) to Sell

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

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 brokerages have also recently weighed in on RMAX. Bank of America cut Re/Max to a “sell” rating and set a $56.00 price target on the stock. in a research report on Thursday, December 20th. Compass Point started coverage on Re/Max in a research report on Thursday, January 24th. They set a “neutral” rating and a $40.00 price target on the stock. Morgan Stanley set a $39.00 price target on Re/Max and gave the stock a “buy” rating in a research report on Monday, March 18th. Finally, TheStreet upgraded Re/Max from a “c” rating to a “b-” rating in a research report on Monday, March 11th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $51.75.

NYSE:RMAX opened at $36.82 on Friday. The company has a debt-to-equity ratio of 2.87, a quick ratio of 5.40 and a current ratio of 5.40. The company has a market cap of $653.70 million, a price-to-earnings ratio of 18.23, a PEG ratio of 2.60 and a beta of 0.88. Re/Max has a 52 week low of $27.84 and a 52 week high of $61.25.

Re/Max (NYSE:RMAX) last announced its quarterly earnings results on Thursday, February 21st. The financial services provider reported $0.41 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.41. The business had revenue of $50.84 million for the quarter, compared to analysts’ expectations of $50.56 million. Re/Max had a return on equity of 84.43% and a net margin of 12.72%. The business’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.45 EPS. On average, research analysts forecast that Re/Max will post 2.04 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of RMAX. Thrivent Financial for Lutherans increased its position in shares of Re/Max by 0.6% during the 4th quarter. Thrivent Financial for Lutherans now owns 46,348 shares of the financial services provider’s stock valued at $1,425,000 after purchasing an additional 279 shares during the period. Stifel Financial Corp increased its position in shares of Re/Max by 1.4% during the 4th quarter. Stifel Financial Corp now owns 32,797 shares of the financial services provider’s stock valued at $1,006,000 after purchasing an additional 438 shares during the period. Texas Permanent School Fund increased its position in shares of Re/Max by 4.0% during the 4th quarter. Texas Permanent School Fund now owns 11,613 shares of the financial services provider’s stock valued at $357,000 after purchasing an additional 447 shares during the period. Teachers Advisors LLC increased its position in shares of Re/Max by 3.4% during the 3rd quarter. Teachers Advisors LLC now owns 35,531 shares of the financial services provider’s stock valued at $1,576,000 after purchasing an additional 1,159 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of Re/Max by 0.9% during the 4th quarter. Principal Financial Group Inc. now owns 144,944 shares of the financial services provider’s stock valued at $4,457,000 after purchasing an additional 1,262 shares during the period. Hedge funds and other institutional investors own 99.57% of the company’s stock.

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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