Re/Max (NYSE:RMAX) Rating Increased to Buy at Compass Point

Compass Point upgraded shares of Re/Max (NYSE:RMAX) from a neutral rating to a buy rating in a research note released on Monday morning, Briefing.com Automated Import reports.

A number of other research analysts have also recently commented on RMAX. TheStreet upgraded BlackRock TCP Capital from a c+ rating to a b rating in a research report on Tuesday, May 28th. Morgan Stanley set a $39.00 target price on Re/Max and gave the stock a buy rating in a report on Monday, March 18th. Craig Hallum set a $43.00 target price on Carbonite and gave the stock a buy rating in a report on Friday, May 3rd. Zacks Investment Research downgraded EXACT Sciences from a hold rating to a sell rating in a report on Tuesday, July 2nd. Finally, ValuEngine downgraded Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. The stock has an average rating of Hold and an average price target of $49.29.

NYSE RMAX opened at $30.43 on Monday. The firm has a market cap of $562.98 million, a P/E ratio of 16.69 and a beta of 1.16. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 3.40. Re/Max has a 12 month low of $27.84 and a 12 month high of $56.77. The firm has a 50 day moving average of $31.21.

Re/Max (NYSE:RMAX) last posted its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.01. The firm had revenue of $71.18 million for the quarter, compared to analysts’ expectations of $69.51 million. Re/Max had a return on equity of 70.42% and a net margin of 11.45%. The company’s quarterly revenue was up 35.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.49 EPS. As a group, equities analysts predict that Re/Max will post 1.97 EPS for the current fiscal year.

In related news, Director Daniel J. Predovich sold 1,388 shares of the stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $30.89, for a total transaction of $42,875.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gail A. Liniger bought 45,169 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were bought at an average price of $30.11 per share, with a total value of $1,360,038.59. Following the completion of the acquisition, the director now directly owns 45,169 shares in the company, valued at $1,360,038.59. The disclosure for this purchase can be found here. Insiders have purchased a total of 446,380 shares of company stock valued at $13,990,354 over the last 90 days. 0.52% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the stock. Advisory Services Network LLC raised its holdings in Re/Max by 48.1% during the first quarter. Advisory Services Network LLC now owns 1,105 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 359 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Re/Max by 8.3% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,678,810 shares of the financial services provider’s stock valued at $64,702,000 after purchasing an additional 128,203 shares during the period. Granite Investment Partners LLC purchased a new stake in shares of Re/Max in the first quarter valued at approximately $15,270,000. O Shaughnessy Asset Management LLC boosted its holdings in shares of Re/Max by 422.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 10,884 shares of the financial services provider’s stock valued at $419,000 after purchasing an additional 8,800 shares during the period. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its holdings in shares of Re/Max by 61.6% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 14,461 shares of the financial services provider’s stock valued at $557,000 after purchasing an additional 5,515 shares during the period. Institutional investors own 99.57% of the company’s stock.

About Re/Max

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.

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Analyst Recommendations for Re/Max (NYSE:RMAX)

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