RE/MAX (NYSE:RMAX) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded RE/MAX to a “hold” rating, while analyst opinions remain mixed. The broader consensus is “Hold,” with a target price of $13.80.
• RE/MAX’s latest quarterly results fell short of expectations, reporting EPS of $0.32 versus $0.37 expected and revenue of $51.72 million versus $72.80 million projected.
• Shares opened at $13.62, well above their 50-day and 200-day moving averages, while institutional investors and hedge funds own approximately 93.17% of the stock.

RE/MAX (NYSE:RMAX - Get Free Report) was upgraded by Wall Street Zen to a "hold" rating in a research report issued on Saturday.

A number of other research analysts have also commented on RMAX. Weiss Ratings reiterated a "sell (d)" rating on shares of RE/MAX in a report on Friday, July 24th. JonesTrading upgraded shares of RE/MAX from a "hold" rating to a "buy" rating and set a $13.80 price objective on the stock in a research note on Monday, April 27th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $13.80.

RE/MAX Stock Performance

Shares of NYSE:RMAX opened at $13.62 on Friday. The company has a market cap of $289.15 million, a P/E ratio of -32.43 and a beta of 1.82. The stock's 50-day moving average is $10.78 and its 200-day moving average is $8.67. RE/MAX has a 52-week low of $5.46 and a 52-week high of $14.63.

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

Institutional Trading of RE/MAX

Several institutional investors have recently made changes to their positions in the business. Segall Bryant & Hamill LLC bought a new position in RE/MAX during the first quarter worth about $861,000. Seven Six Capital Management LLC acquired a new stake in RE/MAX during the first quarter valued at approximately $1,290,000. IFC & Insurance Marketing Inc. bought a new stake in shares of RE/MAX in the 4th quarter valued at approximately $76,000. Strs Ohio bought a new stake in shares of RE/MAX in the 1st quarter valued at approximately $30,000. Finally, Bank of America Corp DE raised its holdings in shares of RE/MAX by 23.0% in the 1st quarter. Bank of America Corp DE now owns 52,997 shares of the financial services provider's stock worth $305,000 after buying an additional 9,905 shares in the last quarter. 93.17% of the stock is currently owned by institutional investors and hedge funds.

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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