Zacks Investment Research Lowers Realogy (NYSE:RLGY) to Hold

Zacks Investment Research cut shares of Realogy (NYSE:RLGY) from a buy rating to a hold rating in a research note released on Friday morning, Zacks.com reports.

According to Zacks, “Realogy Holdings Corp. is a provider of real estate services. The Company through its subsidiaries provides real estate brokerage services, relocation services, and title and settlement services. The Company’s brands and business units include Better Homes and Gardens(R) Real Estate, CENTURY 21(R), Coldwell Banker(R), Coldwell Banker Commercial(R), The Corcoran Group(R), ERA(R), Sotheby’s International Realty(R), NRT LLC, Cartus and Title Resource Group. Realogy Holdings Corp. is headquartered in Parsippany, New Jersey. “

A number of other analysts also recently issued reports on RLGY. ValuEngine upgraded shares of Realogy from a sell rating to a hold rating in a report on Thursday, October 1st. Evercore ISI upgraded shares of Realogy from an in-line rating to an outperform rating and set a $13.00 price target on the stock in a report on Friday, July 31st. Finally, Zelman & Associates raised shares of Realogy from a hold rating to a buy rating in a research note on Monday, August 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $9.50.

Shares of RLGY stock opened at $9.62 on Friday. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of -1.87 and a beta of 2.93. Realogy has a one year low of $2.09 and a one year high of $13.88. The company’s fifty day moving average price is $10.50 and its 200-day moving average price is $7.94. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.60 and a quick ratio of 0.60.

Realogy (NYSE:RLGY) last announced its quarterly earnings data on Thursday, July 30th. The financial services provider reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.30. The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.21 billion. Realogy had a negative net margin of 11.19% and a positive return on equity of 4.67%. During the same period last year, the firm earned $0.83 EPS. Equities research analysts expect that Realogy will post 0.74 earnings per share for the current fiscal year.

In other news, Director Michael J. Williams acquired 5,000 shares of Realogy stock in a transaction that occurred on Wednesday, August 19th. The stock was purchased at an average price of $10.60 per share, for a total transaction of $53,000.00. Following the purchase, the director now directly owns 102,460 shares in the company, valued at approximately $1,086,076. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.60% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. M&G Investment Management Ltd. acquired a new stake in shares of Realogy in the third quarter valued at about $478,000. Nisa Investment Advisors LLC boosted its stake in shares of Realogy by 54.3% in the third quarter. Nisa Investment Advisors LLC now owns 10,650 shares of the financial services provider’s stock valued at $101,000 after purchasing an additional 3,750 shares during the period. Louisiana State Employees Retirement System boosted its stake in shares of Realogy by 70.3% in the third quarter. Louisiana State Employees Retirement System now owns 53,400 shares of the financial services provider’s stock valued at $504,000 after purchasing an additional 22,050 shares during the period. Campbell & CO Investment Adviser LLC purchased a new position in shares of Realogy in the third quarter valued at approximately $105,000. Finally, Bowling Portfolio Management LLC purchased a new position in shares of Realogy in the third quarter valued at approximately $235,000.

Realogy Company Profile

Realogy Holdings Corp. is an integrated provider of residential real estate services in the United States. The Company is the franchisor of residential real estate brokerages with some of the recognized brands in the real estate industry, the owner of United States residential real estate brokerage offices, the global provider of outsourced employee relocation services and a provider of title and settlement services.

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