Resideo Technologies (NYSE:REZI) Price Target Raised to $29.00

Resideo Technologies (NYSE:REZI) had its target price upped by Citizens Jmp from $22.00 to $29.00 in a report released on Thursday morning,Benzinga reports. Citizens Jmp currently has a market outperform rating on the stock.

Several other equities analysts also recently commented on REZI. Weiss Ratings downgraded shares of Resideo Technologies from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, November 9th. Evercore started coverage on shares of Resideo Technologies in a research report on Monday, September 28th. They set an “outperform” rating and a $30.00 target price for the company. Oppenheimer cut their target price on shares of Resideo Technologies from $27.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday. Zacks Research upgraded shares of Resideo Technologies from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 13th. Finally, JPMorgan Chase & Co. started coverage on shares of Resideo Technologies in a research note on Friday, August 7th. They issued a “neutral” rating and a $30.00 price target on the stock. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $31.33.

Resideo Technologies Price Performance

NYSE:REZI traded down $0.14 during trading hours on Thursday, hitting $21.32. 1,860,852 shares of the stock traded hands, compared to its average volume of 1,807,244. The company has a market cap of $3.24 billion, a price-to-earnings ratio of 14.31 and a beta of 1.58. Resideo Technologies has a 1 year low of $15.90 and a 1 year high of $42.95. The stock has a 50 day moving average price of $18.56 and a 200 day moving average price of $29.14. The company has a quick ratio of 1.41, a current ratio of 1.42 and a debt-to-equity ratio of 3.40.

Resideo Technologies (NYSE:REZI) last released its earnings results on Tuesday, November 10th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.12. Resideo Technologies had a return on equity of 19.24% and a net margin of 4.50%. The firm had revenue of $727.00 million during the quarter, compared to analysts’ expectations of $712.64 million. During the same quarter last year, the business posted $0.89 earnings per share. The firm’s revenue was down 61.0% on a year-over-year basis. Sell-side analysts forecast that Resideo Technologies will post 2.16 EPS for the current fiscal year.

Insider Activity

In other Resideo Technologies news, SVP Amit Mehta bought 10,928 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were purchased at an average price of $20.68 per share, with a total value of $225,991.04. Following the completion of the purchase, the senior vice president owned 57,362 shares in the company, valued at $1,186,246.16. This represents a 23.53% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Resideo Technologies

A number of large investors have recently bought and sold shares of REZI. BlackRock Inc. purchased a new stake in Resideo Technologies in the second quarter worth $673,214,000. Dimensional Fund Advisors LP lifted its position in shares of Resideo Technologies by 0.8% during the first quarter. Dimensional Fund Advisors LP now owns 7,787,434 shares of the company’s stock worth $262,505,000 after purchasing an additional 64,613 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Resideo Technologies by 3.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,069,509 shares of the company’s stock valued at $69,763,000 after purchasing an additional 71,092 shares during the period. Pzena Investment Management LLC boosted its stake in shares of Resideo Technologies by 119.3% during the third quarter. Pzena Investment Management LLC now owns 3,699,890 shares of the company’s stock valued at $67,153,000 after purchasing an additional 2,013,125 shares during the period. Finally, Bank of America Corp DE purchased a new stake in shares of Resideo Technologies during the second quarter valued at $32,325,000. Hedge funds and other institutional investors own 91.71% of the company’s stock.

About Resideo Technologies

Resideo Technologies is a provider of products and services for home comfort, safety, security and energy management. Its offerings include thermostats and other heating and cooling controls, indoor air quality products, water leak detection devices, fire and carbon monoxide alarms, and security systems. Products are sold under brands that include Honeywell Home and First Alert. The company also operates ADI Global Distribution, a distributor of security, audio-visual, communications and smart-home products.