Compass Point upgraded shares of Re/Max (NYSE:RMAX) from a neutral rating to a buy rating in a research note published on Monday morning, Briefing.com Automated Import reports.
RMAX has been the subject of several other research reports. Morgan Stanley set a $39.00 price target on shares of Re/Max and gave the stock a buy rating in a research report on Monday, March 18th. ValuEngine lowered shares of Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. Zacks Investment Research lowered shares of EXACT Sciences from a hold rating to a sell rating in a research report on Tuesday, July 2nd. TheStreet raised shares of BlackRock TCP Capital from a c+ rating to a b rating in a research report on Tuesday, May 28th. Finally, Craig Hallum set a $43.00 target price on shares of Carbonite and gave the company a buy rating in a research note on Friday, May 3rd. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The stock has an average rating of Hold and an average target price of $49.29.
Shares of NYSE:RMAX opened at $30.43 on Monday. Re/Max has a 12 month low of $27.84 and a 12 month high of $56.77. The firm has a market cap of $562.98 million, a price-to-earnings ratio of 16.69 and a beta of 1.16. The company has a debt-to-equity ratio of 3.40, a current ratio of 1.92 and a quick ratio of 1.92. The stock’s fifty day moving average is $31.21.
Re/Max (NYSE:RMAX) last announced its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.01. The company had revenue of $71.18 million for the quarter, compared to the consensus estimate of $69.51 million. Re/Max had a net margin of 11.45% and a return on equity of 70.42%. The company’s revenue for the quarter was up 35.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.49 earnings per share. Research analysts anticipate that Re/Max will post 1.97 EPS for the current fiscal year.
In other Re/Max news, Director Daniel J. Predovich sold 1,388 shares of the stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $30.89, for a total transaction of $42,875.32. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gail A. Liniger acquired 45,169 shares of Re/Max stock in a transaction on Monday, June 3rd. The shares were bought at an average price of $30.11 per share, for a total transaction of $1,360,038.59. Following the completion of the purchase, the director now directly owns 45,169 shares in the company, valued at $1,360,038.59. The disclosure for this purchase can be found here. Insiders bought 446,380 shares of company stock valued at $13,990,354 over the last 90 days. Insiders own 0.52% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of RMAX. BlackRock Inc. lifted its position in shares of Re/Max by 5.7% in the 4th quarter. BlackRock Inc. now owns 2,705,898 shares of the financial services provider’s stock worth $83,207,000 after buying an additional 145,953 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Re/Max by 9.1% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,691,745 shares of the financial services provider’s stock worth $65,200,000 after buying an additional 141,138 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Re/Max by 2.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 800,283 shares of the financial services provider’s stock worth $24,609,000 after buying an additional 20,881 shares during the last quarter. Deprince Race & Zollo Inc. bought a new position in shares of Re/Max in the 1st quarter worth about $30,046,000. Finally, JPMorgan Chase & Co. lifted its position in shares of Re/Max by 4.3% in the 1st quarter. JPMorgan Chase & Co. now owns 667,899 shares of the financial services provider’s stock worth $25,741,000 after buying an additional 27,239 shares during the last quarter. Hedge funds and other institutional investors own 99.57% of the company’s stock.
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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