Zacks Investment Research Lowers Re/Max (RMAX) to Sell

Re/Max (NYSE:RMAX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday, Zacks.com reports.

According to Zacks, “Re/Max Holdings, Inc. is a franchisor of real estate brokerage services. Re/Max Holdings, Inc. is based in Denver, CO. “

Other analysts have also issued research reports about the stock. Bank of America lowered shares of Re/Max to a “sell” rating and set a $56.00 target price for the company. in a research note on Thursday, December 20th. Compass Point assumed coverage on shares of Re/Max in a research report on Thursday, January 24th. They set a “neutral” rating and a $40.00 price target for the company. Morgan Stanley set a $39.00 price target on shares of Re/Max and gave the company a “buy” rating in a research report on Monday, March 18th. Finally, TheStreet upgraded shares of Re/Max from a “c” rating to a “b-” rating in a research report on Monday, March 11th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. Re/Max currently has a consensus rating of “Hold” and an average target price of $50.71.

RMAX opened at $40.42 on Wednesday. The company has a debt-to-equity ratio of 2.87, a quick ratio of 5.40 and a current ratio of 5.40. Re/Max has a 1-year low of $27.84 and a 1-year high of $58.65. The firm has a market cap of $723.47 million, a price-to-earnings ratio of 20.01, a price-to-earnings-growth ratio of 2.85 and a beta of 0.88.

Re/Max (NYSE:RMAX) last released its quarterly earnings data on Thursday, February 21st. The financial services provider reported $0.41 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.41. Re/Max had a net margin of 12.72% and a return on equity of 84.43%. The firm had revenue of $50.84 million for the quarter, compared to the consensus estimate of $50.56 million. During the same quarter in the prior year, the company posted $0.45 earnings per share. The business’s revenue was up 4.8% on a year-over-year basis. On average, equities research analysts anticipate that Re/Max will post 2.04 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the business. O Shaughnessy Asset Management LLC purchased a new position in Re/Max during the fourth quarter valued at $64,000. Quantamental Technologies LLC purchased a new position in shares of Re/Max in the 4th quarter worth about $102,000. Public Employees Retirement System of Ohio purchased a new position in shares of Re/Max in the 4th quarter worth about $172,000. Metropolitan Life Insurance Co. NY raised its position in shares of Re/Max by 307.1% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 6,013 shares of the financial services provider’s stock worth $185,000 after purchasing an additional 4,536 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund purchased a new position in shares of Re/Max in the 4th quarter worth about $208,000. 99.57% of the stock is owned by institutional investors and hedge funds.

Re/Max Company Profile

RE/MAX Holdings, Inc operates as a franchisor of real estate and mortgage brokerage services in the United States, Canada, and internationally. The company offers its real estate franchise services under the RE/MAX brand name; and mortgage brokerage services under the Motto Mortgage brand. It also provides real estate technology solutions.

Further Reading: Google Finance Portfolio

Get a free copy of the Zacks research report on Re/Max (RMAX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Re/Max (NYSE:RMAX)

Receive News & Ratings for Re/Max Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Re/Max and related companies with MarketBeat.com's FREE daily email newsletter.