RE/MAX (NYSE:RMAX) Price Target Cut to $9.00 by Analysts at Stephens

RE/MAX (NYSE:RMAX) had its price target reduced by Stephens from $10.00 to $9.00 in a research note issued to investors on Monday, Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

RMAX has been the subject of a number of other research reports. Keefe, Bruyette & Woods cut their price target on RE/MAX from $11.00 to $10.00 and set a market perform rating for the company in a research note on Wednesday, February 28th. Morgan Stanley cut their target price on RE/MAX from $9.00 to $7.00 and set an underweight rating for the company in a research report on Wednesday, April 10th. StockNews.com cut RE/MAX from a buy rating to a hold rating in a report on Monday, February 26th. Finally, Jonestrading reaffirmed a hold rating on shares of RE/MAX in a report on Friday, March 1st. Two analysts have rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of Hold and an average price target of $11.60.

RE/MAX Stock Up 9.1 %

NYSE RMAX opened at $8.73 on Monday. RE/MAX has a 52 week low of $6.94 and a 52 week high of $20.48. The company has a market capitalization of $159.55 million, a P/E ratio of -2.21 and a beta of 1.42. The stock’s 50-day moving average price is $7.82 and its 200-day moving average price is $9.65.

RE/MAX (NYSE:RMAX) last released its earnings results on Thursday, February 22nd. The financial services provider reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. RE/MAX had a negative net margin of 22.51% and a negative return on equity of 50.09%. The company had revenue of $76.60 million for the quarter, compared to analysts’ expectations of $77.19 million. Research analysts anticipate that RE/MAX will post 0.75 EPS for the current year.

Insider Activity

In related news, EVP Abigail C. Lee sold 4,500 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $8.51, for a total value of $38,295.00. Following the sale, the executive vice president now owns 89,229 shares in the company, valued at $759,338.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other RE/MAX news, EVP Abigail C. Lee sold 4,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $8.51, for a total transaction of $38,295.00. Following the sale, the executive vice president now directly owns 89,229 shares of the company’s stock, valued at $759,338.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Adam K. Peterson purchased 54,000 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were bought at an average price of $7.64 per share, for a total transaction of $412,560.00. Following the acquisition, the insider now directly owns 3,037,843 shares in the company, valued at approximately $23,209,120.52. The disclosure for this purchase can be found here. Corporate insiders own 5.99% of the company’s stock.

Institutional Trading of RE/MAX

Several institutional investors have recently added to or reduced their stakes in RMAX. Allspring Global Investments Holdings LLC purchased a new position in RE/MAX during the 3rd quarter valued at $35,000. Patron Partners LLC purchased a new stake in shares of RE/MAX during the first quarter valued at $93,000. SG Americas Securities LLC increased its stake in RE/MAX by 12.7% in the 1st quarter. SG Americas Securities LLC now owns 12,992 shares of the financial services provider’s stock worth $114,000 after buying an additional 1,469 shares during the period. Robertson Stephens Wealth Management LLC bought a new stake in RE/MAX during the 4th quarter valued at about $139,000. Finally, Pinnacle Wealth Planning Services Inc. purchased a new stake in RE/MAX in the 4th quarter valued at about $141,000. Institutional investors own 93.17% of the company’s stock.

RE/MAX Company Profile

RE/MAX Holdings, Inc operates as a franchisor of real estate brokerage services in the United States, Canada, and internationally. It operates through Real Estate, Mortgage, and Marketing Funds segments. The company offers real estate brokerage franchising services under the RE/MAX brand; mortgage brokerage services to real estate brokers, real estate professionals, mortgage professionals, and other investors under the Motto Mortgage brand; and mortgage loan processing software and services under the wemlo brand.