Re/Max Holdings Inc (NYSE:RMAX) Receives $46.83 Consensus PT from Brokerages

Re/Max Holdings Inc (NYSE:RMAX) has been given a consensus recommendation of “Hold” by the nine brokerages that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $46.83.

A number of brokerages have weighed in on RMAX. Zacks Investment Research downgraded shares of Re/Max from a “hold” rating to a “sell” rating in a research note on Saturday, May 11th. TheStreet raised shares of Re/Max from a “c” rating to a “b-” rating in a research note on Monday, March 11th. Finally, Morgan Stanley set a $39.00 target price on shares of Re/Max and gave the company a “buy” rating in a research note on Monday, March 18th.

Shares of NYSE RMAX opened at $30.00 on Tuesday. Re/Max has a fifty-two week low of $27.84 and a fifty-two week high of $56.77. The firm’s 50 day simple moving average is $32.34. The company has a market capitalization of $517.00 million, a P/E ratio of 14.85 and a beta of 1.19. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 3.40.

Re/Max (NYSE:RMAX) last announced its earnings results on Thursday, May 2nd. The financial services provider reported $0.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.01. Re/Max had a net margin of 11.45% and a return on equity of 70.42%. The business had revenue of $71.18 million during the quarter, compared to the consensus estimate of $69.51 million. During the same quarter last year, the firm earned $0.49 earnings per share. The business’s revenue for the quarter was up 35.2% on a year-over-year basis. As a group, research analysts forecast that Re/Max will post 1.97 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Shareholders of record on Wednesday, May 15th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend was Tuesday, May 14th. Re/Max’s dividend payout ratio is 41.58%.

In other news, Director David L. Liniger purchased 140,800 shares of Re/Max stock in a transaction that occurred on Monday, June 10th. The stock was bought at an average price of $31.75 per share, with a total value of $4,470,400.00. Following the completion of the transaction, the director now directly owns 165,004 shares of the company’s stock, valued at $5,238,877. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gail A. Liniger purchased 45,169 shares of Re/Max stock in a transaction that occurred on Monday, June 3rd. The shares were purchased at an average cost of $30.11 per share, with a total value of $1,360,038.59. Following the transaction, the director now directly owns 45,169 shares of the company’s stock, valued at $1,360,038.59. The disclosure for this purchase can be found here. Insiders have acquired 446,380 shares of company stock valued at $13,990,354 in the last ninety days. Insiders own 0.52% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Advisory Services Network LLC grew its holdings in Re/Max by 48.1% during the 1st quarter. Advisory Services Network LLC now owns 1,105 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 359 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its holdings in Re/Max by 8.3% during the 1st 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 last quarter. Granite Investment Partners LLC bought a new position in Re/Max during the 1st quarter valued at about $15,270,000. O Shaughnessy Asset Management LLC grew its holdings in Re/Max by 422.3% during the 1st 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 last quarter. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC grew its holdings in Re/Max by 61.6% during the 1st 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 last quarter. 99.57% of the stock is owned by 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. It also provides real estate technology solutions.

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Analyst Recommendations for Re/Max (NYSE:RMAX)

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