RE/MAX (NYSE:RMAX) Rating Increased to Buy at JonesTrading

Key Points

• JonesTrading upgraded RE/MAX from a "hold" to a Buy with a $13.80 price target, implying about a 41.23% upside from the current price.
• Analyst views remain mixed—Weiss Ratings reiterated a Sell, and the consensus rating is a "Hold" with a $11.40 average price target.
• Shares jumped to $9.77 on heavy volume (~11.66M vs. avg 379k) after RE/MAX reported $0.30 EPS (beat by $0.02), though revenue slightly missed estimates and ROE was deeply negative.

RE/MAX (NYSE:RMAX - Get Free Report) was upgraded by stock analysts at JonesTrading from a "hold" rating to a "buy" rating in a report issued on Monday,Benzinga reports. The brokerage presently has a $13.80 price objective on the financial services provider's stock. JonesTrading's price objective indicates a potential upside of 41.23% from the company's current price.

Separately, Weiss Ratings reiterated a "sell (d)" rating on shares of RE/MAX in a report on Wednesday, January 28th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $11.40.

RE/MAX Stock Performance

NYSE:RMAX traded up $1.78 during mid-day trading on Monday, hitting $9.77. 11,657,403 shares of the company's stock traded hands, compared to its average volume of 379,396. The firm's 50 day simple moving average is $6.19 and its 200 day simple moving average is $7.31. RE/MAX has a 1 year low of $5.46 and a 1 year high of $10.32. The company has a market cap of $196.79 million, a PE ratio of 25.06 and a beta of 1.27.

RE/MAX (NYSE:RMAX - Get Free Report) last issued its quarterly earnings results on Thursday, February 19th. The financial services provider reported $0.30 EPS for the quarter, topping analysts' consensus estimates of $0.28 by $0.02. The business had revenue of $71.14 million during the quarter, compared to the consensus estimate of $71.33 million. RE/MAX had a net margin of 2.80% and a negative return on equity of 73.77%. On average, research analysts expect that RE/MAX will post 0.85 earnings per share for the current fiscal year.

Insider Activity at RE/MAX

In related news, major shareholder Adam K. Peterson sold 61,000 shares of the business's stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $5.71, for a total value of $348,310.00. Following the completion of the sale, the insider directly owned 2,604,643 shares in the company, valued at approximately $14,872,511.53. The trade was a 2.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On RE/MAX

Institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its position in RE/MAX by 95.5% during the third quarter. JPMorgan Chase & Co. now owns 533,201 shares of the financial services provider's stock valued at $5,028,000 after buying an additional 260,416 shares in the last quarter. Hillsdale Investment Management Inc. lifted its position in RE/MAX by 20.0% during the third quarter. Hillsdale Investment Management Inc. now owns 590,380 shares of the financial services provider's stock valued at $5,567,000 after buying an additional 98,241 shares in the last quarter. Jump Financial LLC acquired a new position in RE/MAX during the fourth quarter valued at approximately $149,000. XTX Topco Ltd acquired a new position in RE/MAX during the second quarter valued at approximately $141,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in RE/MAX during the first quarter valued at approximately $129,000. 93.17% of the stock is currently owned by hedge funds and other institutional investors.

RE/MAX Company Profile

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.

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