RE/MAX (NYSE:RMAX) Rating Lowered to “Hold” at StockNews.com

RE/MAX (NYSE:RMAX) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

Separately, Stephens boosted their target price on shares of RE/MAX from $9.00 to $10.50 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $10.38.

RE/MAX Stock Up 4.5 %

RMAX stock opened at $12.85 on Wednesday. The company has a 50-day simple moving average of $11.98 and a 200 day simple moving average of $9.94. The company has a market capitalization of $242.35 million, a P/E ratio of -23.80 and a beta of 1.36. RE/MAX has a fifty-two week low of $6.94 and a fifty-two week high of $13.70.

RE/MAX (NYSE:RMAX) last posted its quarterly earnings results on Thursday, August 8th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.11. RE/MAX had a negative net margin of 3.08% and a negative return on equity of 35.76%. The firm had revenue of $78.45 million for the quarter, compared to analyst estimates of $78.16 million. Equities analysts anticipate that RE/MAX will post 0.85 EPS for the current year.

Institutional Trading of RE/MAX

Several hedge funds have recently modified their holdings of RMAX. BNP Paribas Financial Markets boosted its stake in shares of RE/MAX by 114.2% in the 1st quarter. BNP Paribas Financial Markets now owns 36,368 shares of the financial services provider’s stock valued at $319,000 after purchasing an additional 19,393 shares during the last quarter. Empowered Funds LLC grew its holdings in RE/MAX by 7.9% during the 1st quarter. Empowered Funds LLC now owns 50,524 shares of the financial services provider’s stock worth $443,000 after acquiring an additional 3,687 shares during the period. SG Americas Securities LLC raised its position in shares of RE/MAX by 12.7% during the 1st quarter. SG Americas Securities LLC now owns 12,992 shares of the financial services provider’s stock valued at $114,000 after acquiring an additional 1,469 shares during the last quarter. Magnolia Group LLC lifted its stake in shares of RE/MAX by 1.8% in the 1st quarter. Magnolia Group LLC now owns 3,037,843 shares of the financial services provider’s stock valued at $26,642,000 after purchasing an additional 54,000 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in shares of RE/MAX by 17.2% in the 1st quarter. Russell Investments Group Ltd. now owns 227,103 shares of the financial services provider’s stock worth $1,992,000 after purchasing an additional 33,351 shares during the last quarter. 93.17% of the stock is owned by institutional investors.

RE/MAX Company Profile

RE/MAX Holdings, Inc operates as a franchisor of real estate brokerage services in the United States, Canada, and internationally. It operates through Real Estate, Mortgage, and Marketing Funds segments. The company offers real estate brokerage franchising services under the RE/MAX brand; mortgage brokerage services to real estate brokers, real estate professionals, mortgage professionals, and other investors under the Motto Mortgage brand; and mortgage loan processing software and services under the wemlo brand.