Re/Max (NYSE:RMAX) Upgraded to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Re/Max (NYSE:RMAX) from a hold rating to a buy rating in a research note published on Thursday, Zacks.com reports. They currently have $41.00 price objective on the financial services provider’s stock.

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 analysts have also recently issued reports on RMAX. JMP Securities upgraded Re/Max from a market perform rating to an outperform rating and set a $40.00 price objective on the stock in a research report on Monday, September 16th. Craig Hallum upgraded Re/Max from a hold rating to a buy rating and set a $35.00 price objective on the stock in a research report on Wednesday, August 21st. ValuEngine cut Re/Max from a hold rating to a sell rating in a research report on Monday, November 4th. Stephens boosted their price objective on Re/Max from $31.00 to $37.00 and gave the company an equal weight rating in a research report on Monday, August 5th. Finally, Compass Point cut Re/Max from a buy rating to a neutral rating and lowered their price objective for the company from $42.00 to $31.00 in a research report on Tuesday, August 6th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $39.86.

Shares of RMAX traded up $0.56 on Thursday, reaching $37.30. 115,848 shares of the stock traded hands, compared to its average volume of 186,408. The firm has a market cap of $658.93 million, a price-to-earnings ratio of 18.47 and a beta of 1.21. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.20 and a quick ratio of 2.14. Re/Max has a 12 month low of $24.67 and a 12 month high of $44.16. The stock’s 50-day moving average price is $32.33 and its 200-day moving average price is $31.40.

Re/Max (NYSE:RMAX) last released its quarterly earnings data on Thursday, October 31st. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. The business had revenue of $71.54 million for the quarter, compared to analysts’ expectations of $71.36 million. Re/Max had a return on equity of 60.78% and a net margin of 10.73%. Re/Max’s quarterly revenue was up 30.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.65 earnings per share. As a group, equities research analysts forecast that Re/Max will post 1.98 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.25%. The ex-dividend date is Tuesday, November 12th. Re/Max’s dividend payout ratio is 41.58%.

A number of hedge funds have recently made changes to their positions in RMAX. Tyers Asset Management LLC boosted its stake in Re/Max by 22.0% in the 2nd quarter. Tyers Asset Management LLC now owns 2,576 shares of the financial services provider’s stock valued at $79,000 after buying an additional 464 shares in the last quarter. Bank of Montreal Can boosted its stake in Re/Max by 51.4% in the 2nd quarter. Bank of Montreal Can now owns 2,982 shares of the financial services provider’s stock valued at $93,000 after buying an additional 1,013 shares in the last quarter. Elkfork Partners LLC boosted its stake in Re/Max by 22.0% in the 2nd quarter. Elkfork Partners LLC now owns 3,542 shares of the financial services provider’s stock valued at $109,000 after buying an additional 638 shares in the last quarter. Quantamental Technologies LLC boosted its stake in Re/Max by 174.9% in the 2nd quarter. Quantamental Technologies LLC now owns 4,154 shares of the financial services provider’s stock valued at $128,000 after buying an additional 2,643 shares in the last quarter. Finally, Meadow Creek Investment Management LLC boosted its stake in Re/Max by 22.0% in the 2nd quarter. Meadow Creek Investment Management LLC now owns 4,508 shares of the financial services provider’s stock valued at $139,000 after buying an additional 812 shares in the last quarter.

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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Analyst Recommendations for Re/Max (NYSE:RMAX)

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