Resideo Technologies, Inc. (NYSE:REZI) Given Average Rating of “Hold” by Brokerages

Shares of Resideo Technologies, Inc. (NYSE:REZI) have earned an average rating of “Hold” from the five analysts that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $41.00.

A number of analysts have weighed in on REZI shares. Oppenheimer reiterated an “outperform” rating on shares of Resideo Technologies in a research note on Thursday, August 13th. JPMorgan Chase & Co. started coverage on Resideo Technologies in a research report on Friday, August 7th. They set a “neutral” rating and a $30.00 target price on the stock. Weiss Ratings raised shares of Resideo Technologies from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, August 14th. Morgan Stanley reduced their price target on shares of Resideo Technologies from $50.00 to $45.00 and set an “overweight” rating for the company in a research report on Monday, July 13th. Finally, Seaport Research Partners began coverage on Resideo Technologies in a report on Wednesday, July 1st. They issued a “buy” rating and a $55.00 price target for the company.

Resideo Technologies Stock Performance

REZI stock opened at $21.52 on Thursday. Resideo Technologies has a 1 year low of $20.10 and a 1 year high of $45.29. The stock’s fifty day moving average price is $30.84 and its 200-day moving average price is $33.65. The company has a market cap of $3.27 billion, a P/E ratio of 9.52 and a beta of 1.63. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.22 and a quick ratio of 1.41.

Resideo Technologies (NYSE:REZI) last announced its quarterly earnings data on Wednesday, August 12th. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.47 by $0.36. The business had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.94 billion. Resideo Technologies had a return on equity of 17.79% and a net margin of 5.37%.The business’s revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.66 earnings per share. On average, equities analysts forecast that Resideo Technologies will post 2.81 earnings per share for the current year.

Insider Transactions at Resideo Technologies

In other news, SVP Joshua Peter Foster purchased 15,317 shares of the stock in a transaction dated Friday, August 14th. The shares were purchased at an average price of $20.58 per share, with a total value of $315,223.86. Following the transaction, the senior vice president owned 183,509 shares in the company, valued at $3,776,615.22. The trade was a 9.11% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Thomas A. Surran purchased 15,000 shares of the stock in a transaction dated Friday, August 14th. The shares were acquired at an average price of $20.46 per share, with a total value of $306,900.00. Following the completion of the acquisition, the chief executive officer owned 338,573 shares in the company, valued at approximately $6,927,203.58. This trade represents a 4.64% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased 41,245 shares of company stock valued at $848,115 over the last 90 days. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Danske Bank A S boosted its stake in shares of Resideo Technologies by 600.0% in the 4th quarter. Danske Bank A S now owns 700 shares of the company’s stock valued at $25,000 after buying an additional 600 shares during the period. Larson Financial Group LLC boosted its holdings in shares of Resideo Technologies by 283.8% in the third quarter. Larson Financial Group LLC now owns 568 shares of the company’s stock valued at $25,000 after acquiring an additional 420 shares during the period. Allworth Financial LP acquired a new stake in Resideo Technologies during the 2nd quarter worth $28,000. McMillan Office Inc. purchased a new position in shares of Resideo Technologies during the fourth quarter worth about $33,000. Finally, Kestra Advisory Services LLC acquired a new position in shares of Resideo Technologies in the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 91.71% of the company’s stock.

Resideo Technologies Company Profile

Resideo Technologies, Inc, headquartered in Austin, Texas, is a global provider of home comfort, security and energy management solutions. Formed as an independent company in 2018 following its spin-off from Honeywell, Resideo leverages decades of engineering experience to deliver connected products and services to residential and light commercial customers.

The company’s core offerings include smart thermostats, security systems, video doorbells, water leak and freeze detection devices, and indoor air quality monitors.