Re/Max (RMAX) Downgraded to “Sell” at Zacks Investment Research

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Zacks Investment Research lowered shares of Re/Max (NYSE:RMAX) from a hold rating to a sell rating in a report published on Friday.

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 equities research analysts also recently issued reports about the stock. Piper Jaffray Companies reissued a buy rating and set a $65.00 price target on shares of Re/Max in a research note on Friday, August 3rd. Craig Hallum set a $50.00 price target on shares of Re/Max and gave the stock a buy rating in a research note on Monday, November 5th. TheStreet downgraded shares of Re/Max from a b- rating to a c+ rating in a research note on Friday, October 12th. Finally, Stephens dropped their price target on shares of Re/Max from $60.00 to $41.00 and set an equal weight rating for the company in a research note on Monday, November 5th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $56.50.

Shares of RMAX traded down $0.90 on Friday, reaching $32.63. 144,032 shares of the company’s stock were exchanged, compared to its average volume of 136,796. The company has a debt-to-equity ratio of 3.17, a current ratio of 5.51 and a quick ratio of 5.71. The company has a market cap of $604.96 million, a price-to-earnings ratio of 16.55, a price-to-earnings-growth ratio of 2.41 and a beta of 0.66. Re/Max has a 12 month low of $32.23 and a 12 month high of $61.27.

Re/Max (NYSE:RMAX) last posted its quarterly earnings results on Thursday, November 1st. The financial services provider reported $0.53 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($0.06). The business had revenue of $54.90 million for the quarter, compared to the consensus estimate of $55.80 million. Re/Max had a return on equity of 90.23% and a net margin of 8.19%. The company’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period last year, the firm earned $0.47 earnings per share. As a group, analysts expect that Re/Max will post 2.02 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 28th. Shareholders of record on Wednesday, November 14th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend is Tuesday, November 13th. Re/Max’s payout ratio is presently 42.78%.

A number of large investors have recently modified their holdings of the business. United Services Automobile Association increased its stake in Re/Max by 30.7% in the second quarter. United Services Automobile Association now owns 6,176 shares of the financial services provider’s stock valued at $324,000 after purchasing an additional 1,449 shares in the last quarter. Bahl & Gaynor Inc. lifted its stake in shares of Re/Max by 2.5% during the 3rd quarter. Bahl & Gaynor Inc. now owns 69,092 shares of the financial services provider’s stock worth $3,064,000 after buying an additional 1,707 shares during the last quarter. Legal & General Group Plc increased its position in Re/Max by 6.2% during the second quarter. Legal & General Group Plc now owns 35,050 shares of the financial services provider’s stock worth $1,838,000 after acquiring an additional 2,034 shares during the period. Wells Fargo & Company MN increased its holdings in Re/Max by 1.0% in the 3rd quarter. Wells Fargo & Company MN now owns 241,922 shares of the financial services provider’s stock valued at $10,729,000 after buying an additional 2,399 shares during the period. Finally, Simplex Trading LLC bought a new position in Re/Max in the 3rd quarter valued at about $107,000. 99.59% of the stock is owned by hedge funds and other institutional investors.

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. The company was founded in 1973 and is headquartered in Denver, Colorado.

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