Re/Max (NYSE:RMAX) Upgraded at Craig Hallum

Craig Hallum upgraded shares of Re/Max (NYSE:RMAX) from a hold rating to a buy rating in a research note released on Wednesday morning, BenzingaRatingsTable reports. Craig Hallum currently has $35.00 price objective on the financial services provider’s stock.

Other equities research analysts have also issued reports about the stock. Compass Point lowered shares of Re/Max from a buy rating to a neutral rating and lowered their price target for the company from $42.00 to $31.00 in a report on Tuesday, August 6th. Zacks Investment Research lowered shares of Re/Max from a hold rating to a sell rating in a report on Thursday, August 8th. TheStreet lowered shares of Re/Max from a b- rating to a c+ rating in a report on Tuesday, May 28th. Stephens raised their price target on shares of Re/Max from $31.00 to $37.00 and gave the company an equal weight rating in a report on Monday, August 5th. Finally, ValuEngine raised shares of Re/Max from a strong sell rating to a sell rating in a report on Thursday, August 1st. Three analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $39.60.

RMAX opened at $26.16 on Wednesday. The company has a fifty day simple moving average of $28.71 and a 200 day simple moving average of $34.93. The firm has a market cap of $483.63 million, a price-to-earnings ratio of 12.95 and a beta of 1.15. Re/Max has a twelve month low of $25.21 and a twelve month high of $50.35. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 3.07.

Re/Max (NYSE:RMAX) last released its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.65 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.06. The business had revenue of $71.40 million during the quarter, compared to analyst estimates of $72.26 million. Re/Max had a net margin of 11.03% and a return on equity of 73.12%. The business’s revenue was up 31.5% on a year-over-year basis. During the same period last year, the business earned $0.62 EPS. On average, analysts forecast that Re/Max will post 1.92 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Tuesday, August 13th. This represents a $0.84 dividend on an annualized basis and a yield of 3.21%. Re/Max’s dividend payout ratio (DPR) is 41.58%.

In related news, Director David L. Liniger acquired 90,000 shares of Re/Max stock in a transaction on Wednesday, June 12th. The shares were purchased at an average cost of $32.34 per share, for a total transaction of $2,910,600.00. Following the purchase, the director now directly owns 263,911 shares of the company’s stock, valued at approximately $8,534,881.74. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gail A. Liniger acquired 122,911 shares of Re/Max stock in a transaction on Wednesday, June 5th. The shares were bought at an average price of $30.33 per share, for a total transaction of $3,727,890.63. Following the completion of the purchase, the director now directly owns 45,169 shares in the company, valued at $1,369,975.77. The disclosure for this purchase can be found here. Insiders have acquired a total of 446,380 shares of company stock worth $13,990,354 over the last quarter. 0.52% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Granite Investment Partners LLC bought a new position in shares of Re/Max in the 1st quarter worth about $15,270,000. Deprince Race & Zollo Inc. lifted its position in shares of Re/Max by 24.1% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 967,610 shares of the financial services provider’s stock worth $29,764,000 after buying an additional 188,008 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Re/Max by 9.1% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,691,745 shares of the financial services provider’s stock worth $65,200,000 after buying an additional 141,138 shares during the last quarter. Ontario Teachers Pension Plan Board bought a new position in shares of Re/Max in the 2nd quarter worth about $3,798,000. Finally, Southside Capital LLC lifted its position in shares of Re/Max by 87.1% in the 2nd quarter. Southside Capital LLC now owns 260,000 shares of the financial services provider’s stock worth $7,998,000 after buying an additional 121,048 shares during the last quarter. Hedge funds and other 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.

Further Reading: Green Investing

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.