Realogy (NYSE:RLGY) Lowered to “Sell” at Zacks Investment Research

Realogy (NYSE:RLGYGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.

According to Zacks, “Realogy Holdings Corp. is a provider of real estate services. The Company through its subsidiaries provides real estate brokerage services, relocation services, and title and settlement services. The Company’s brands and business units include Better Homes and Gardens(R) Real Estate, CENTURY 21(R), Coldwell Banker(R), Coldwell Banker Commercial(R), The Corcoran Group(R), ERA(R), Sotheby’s International Realty(R), NRT LLC, Cartus and Title Resource Group. Realogy Holdings Corp. is headquartered in Parsippany, New Jersey. “

A number of other equities research analysts have also weighed in on RLGY. JPMorgan Chase & Co. lifted their target price on shares of Realogy from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday, March 2nd. Barclays lifted their target price on shares of Realogy from $17.00 to $19.00 in a research note on Tuesday, February 22nd. StockNews.com initiated coverage on shares of Realogy in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Finally, TheStreet lowered shares of Realogy from a “b-” rating to a “c” rating in a research note on Thursday, April 28th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $22.40.

RLGY stock opened at $11.48 on Wednesday. The company has a 50-day moving average price of $15.05. Realogy has a 12-month low of $10.88 and a 12-month high of $21.03. The stock has a market capitalization of $1.36 billion, a PE ratio of 4.13 and a beta of 2.47. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.94 and a quick ratio of 1.25.

Realogy (NYSE:RLGYGet Rating) last released its quarterly earnings data on Thursday, April 28th. The financial services provider reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.15). Realogy had a net margin of 4.13% and a return on equity of 14.24%. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the previous year, the firm posted $0.34 EPS. Realogy’s revenue was up 5.7% compared to the same quarter last year. On average, research analysts expect that Realogy will post 2.64 EPS for the current fiscal year.

Realogy announced that its board has approved a stock repurchase program on Thursday, February 17th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the financial services provider to buy up to 14.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Large investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company raised its holdings in Realogy by 1.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 56,236 shares of the financial services provider’s stock worth $945,000 after buying an additional 633 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in Realogy by 0.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 95,023 shares of the financial services provider’s stock worth $1,597,000 after buying an additional 668 shares during the last quarter. Voya Investment Management LLC raised its holdings in Realogy by 1.0% in the third quarter. Voya Investment Management LLC now owns 102,813 shares of the financial services provider’s stock worth $1,803,000 after buying an additional 981 shares during the last quarter. Assetmark Inc. raised its holdings in Realogy by 193.4% in the third quarter. Assetmark Inc. now owns 1,517 shares of the financial services provider’s stock worth $27,000 after buying an additional 1,000 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in Realogy by 3.7% in the fourth quarter. Victory Capital Management Inc. now owns 33,952 shares of the financial services provider’s stock worth $571,000 after buying an additional 1,210 shares during the last quarter.

Realogy Company Profile (Get Rating)

Realogy Holdings Corp., through its subsidiaries, provides residential real estate services. It operates through three segments: Realogy Franchise Group, and Realogy Brokerage Group. The Realogy Franchise Group segment franchises its residential real estate brokerages under the Century 21, Coldwell Banker, Coldwell Banker Commercial, Corcoran, ERA, Sotheby's International Realty, and Better Homes and Gardens Real Estate brand names.

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