Wall Street Zen Upgrades RE/MAX (NYSE:RMAX) to “Hold”

RE/MAX (NYSE:RMAX) was upgraded by stock analysts at Wall Street Zen to a “hold” rating in a research note issued to investors on Saturday.

A number of other equities analysts have also recently commented on RMAX. Weiss Ratings reaffirmed a “sell (d)” rating on shares of RE/MAX in a research note on Friday, July 24th. JonesTrading upgraded shares of RE/MAX from a “hold” rating to a “buy” rating and set a $13.80 target price on the stock in a report on Monday, April 27th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, RE/MAX currently has an average rating of “Hold” and a consensus price target of $13.80.

RE/MAX Price Performance

NYSE RMAX opened at $13.62 on Friday. The company has a 50-day simple moving average of $10.78 and a two-hundred day simple moving average of $8.68. RE/MAX has a 12-month low of $5.46 and a 12-month high of $14.63. The firm has a market cap of $289.15 million, a price-to-earnings ratio of -32.43 and a beta of 1.82.

RE/MAX (NYSE:RMAX) last announced its quarterly earnings data on Thursday, August 6th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.05). RE/MAX had a negative net margin of 3.04% and a negative return on equity of 81.65%. The company had revenue of $51.72 million for the quarter, compared to the consensus estimate of $72.80 million.

Institutional Investors Weigh In On RE/MAX

Several institutional investors and hedge funds have recently bought and sold shares of the business. Empowered Funds LLC grew its position in shares of RE/MAX by 6.4% in the 1st quarter. Empowered Funds LLC now owns 181,253 shares of the financial services provider’s stock worth $1,044,000 after buying an additional 10,915 shares during the last quarter. Segall Bryant & Hamill LLC bought a new position in shares of RE/MAX during the first quarter valued at approximately $861,000. Bank of America Corp DE raised its holdings in shares of RE/MAX by 23.0% during the first quarter. Bank of America Corp DE now owns 52,997 shares of the financial services provider’s stock valued at $305,000 after acquiring an additional 9,905 shares in the last quarter. Seven Six Capital Management LLC purchased a new stake in RE/MAX in the first quarter worth $1,290,000. Finally, Lazard Asset Management LLC purchased a new stake in RE/MAX in the first quarter worth $95,000. Hedge funds and other institutional investors own 93.17% of the company’s stock.

About RE/MAX

RE/MAX Holdings, Inc (NYSE:RMAX) is a global franchisor of real estate brokerage services, offering residential and commercial property transaction support through a network of independently owned and operated offices. The company provides marketing, training, technology platforms and brand recognition for its affiliated agents, facilitating property buying, selling and leasing activities. In addition to core brokerage services, RE/MAX offers ancillary solutions such as mortgage referral, title and escrow coordination, relocation assistance and luxury market specialization.

Established in 1973 by David and Gail Liniger in Denver, Colorado, RE/MAX pioneered a high-commission, agent-driven model designed to attract experienced real estate professionals.