Resideo Technologies (NYSE:REZI) Price Target Raised to $50.00 at Morgan Stanley

Resideo Technologies (NYSE:REZIGet Free Report) had its target price boosted by investment analysts at Morgan Stanley from $42.00 to $50.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 22.65% from the company’s current price.

Other equities research analysts have also issued reports about the stock. Wall Street Zen lowered shares of Resideo Technologies from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Zacks Research downgraded Resideo Technologies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 11th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Resideo Technologies in a research report on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Resideo Technologies presently has a consensus rating of “Hold” and an average price target of $39.67.

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Resideo Technologies Price Performance

Shares of Resideo Technologies stock traded up $5.05 during midday trading on Wednesday, hitting $40.77. 970,027 shares of the company traded hands, compared to its average volume of 1,301,562. The firm’s fifty day moving average price is $35.88 and its 200-day moving average price is $36.47. Resideo Technologies has a 12 month low of $14.18 and a 12 month high of $45.29. The stock has a market cap of $6.10 billion, a price-to-earnings ratio of -8.72 and a beta of 1.73. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.07 and a current ratio of 1.88.

Hedge Funds Weigh In On Resideo Technologies

Several institutional investors have recently added to or reduced their stakes in the business. Larson Financial Group LLC grew its position in shares of Resideo Technologies by 283.8% during the 3rd quarter. Larson Financial Group LLC now owns 568 shares of the company’s stock worth $25,000 after buying an additional 420 shares during the period. ORG Partners LLC lifted its holdings in shares of Resideo Technologies by 588.2% in the third quarter. ORG Partners LLC now owns 585 shares of the company’s stock worth $25,000 after buying an additional 500 shares in the last quarter. Cullen Frost Bankers Inc. raised its stake in Resideo Technologies by 1,778.8% during the third quarter. Cullen Frost Bankers Inc. now owns 620 shares of the company’s stock valued at $27,000 after buying an additional 587 shares during the last quarter. Sound Income Strategies LLC bought a new stake in shares of Resideo Technologies in the fourth quarter worth $25,000. Finally, Danske Bank A S lifted its position in Resideo Technologies by 600.0% in the fourth quarter. Danske Bank A S now owns 700 shares of the company’s stock worth $25,000 after buying an additional 600 shares during the last quarter. 91.71% of the stock is owned by institutional investors and hedge funds.

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About Resideo Technologies

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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.

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