New Rating issued on Re/Max Holdings Inc (RMAX): Initiated by Wedbush to “Neutral”

Re/Max Holdings Inc (RMAX) was Initiated by Wedbush to “Neutral” and the brokerage firm has set the Price Target at $60. Wedbush advised their Clients and Investors in a research report released on Mar 15, 2017.

Based on several research reports , Wedbush Initiated Re/Max Holdings Inc on Mar 15, 2017 to “Neutral”, Price Target of the shares are set at $60.

Several company insiders have filed Insider transactions , on Mar 14, 2017, Ronald E. Harrison (director) sold 1,000 shares at $55.23 per share price. According to the SEC, on Mar 7, 2017, Daniel J. Predovich (director) sold 1,037 shares at $55.60 per share price. On Mar 3, 2017, Kathleen J Cunningham (director) sold 4,300 shares at $58.26 per share price, according to the Form-4 filing with the securities and exchange commission.

On the company’s financial health, Re/Max Holdings Inc reported $0.41 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Feb 23, 2017. Analyst had a consensus of $0.37. The company had revenue of $44.40 million for the quarter, compared to analysts expectations of $42.31 million. The company’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 EPS.

Re/Max Holdings Inc opened for trading at $55.5 and hit $56.65 on the upside on Wednesday, eventually ending the session at $56.2, with a gain of 1.90% or 1.05 points. The heightened volatility saw the trading volume jump to 72,654 shares. Company has a market cap of $992 M.

RE/MAX Holdings Inc. is a franchisor of real estate brokerage services. Its business is to recruit and retain agents and sell franchises. The Company operates in two segments: Real Estate Franchise Services and Brokerages. The Real Estate Franchise Services segment comprises the operations of the Company’s owned and independent global franchising operations and corporate-wide professional services expenses. The Brokerages reportable segment contains the operations of its 21 owned brokerage offices in the United States (which represent less than 1% of RE/MAX brokerages in the United States) the results of operations of a mortgage brokerage company in which it owns a non-controlling interest and reflects the elimination of intersegment revenue and other consolidation entities. It operates in the real estate brokerage franchise industry in the United States Canada and 95 other countries.

Re/Max Holdings Inc

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